We were down nearly 3,000 points on the Dow.

The single largest point drop in history.

The worst Dow point lost ever.

The Dow and S&P having its worst one-day point drop ever.

On March 16, 2020, the Dow Jones industrial average fell by nearly 3,000 points, as investors

came to grips with the implications of the coronavirus pandemic.

Media outlets around the world ran dramatic headlines, calling it the biggest point drop

in the Dow's history.

Those media outlets weren't wrong.

The 2020 plunge was the largest point drop in the Dow's history, but in percentage terms,

it was much smaller than the Black Monday crash of 1987.

In this episode, we look at how we often fail to make important transformations with data,

like thinking and percentages.

We do this when considering things like fuel efficiency, the value of our homes, how investors

should respond to news, and how to protect wildlife habitats.

I'm Dr. Katie Milkman, and this is Traceology, an original podcast from Charles Schwab.

It's a show about the psychology and economics behind our decisions.

We bring you true stories involving tough choices, and then we explore how they relate

to the latest research in behavioral science.

We do it all to help you make better judgments and avoid costly mistakes.

These forests have massive trees that reach over 300 feet in height and can be 10, 20 feet in diameter.

That's Damon.

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