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You thought October was bad? Over the past two days, the S&P 500 has fallen a little more than 10 per cent, which is the biggest two-day decline since 1987.

According to Bespoke Investment Group, the previous month did not post such an atrocious back-to-back loss. At least the 1987 record for a two-day loss is going to be hard to beat: The S&P 500 fell 24.6 per cent then.

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