{
  "id": 16820061,
  "title": "It's extremely rare. But it happens. The size of the damage at the EWZ",
  "url": "https://urgent.news/2026/10/28/e-rarissimo-mas-acontece-o-tamanho-do-estrago-no-ewz",
  "topic": "world",
  "section": "World",
  "published": "2026-10-28T00:15:00.000Z",
  "source": {
    "name": "Brazil Journal",
    "slug": "brazil-journal",
    "url": "https://braziljournal.com/e-rarissimo-mas-acontece-o-tamanho-do-estrago-no-ewz"
  },
  "original_language": "pt",
  "account": "The Dow Jones index plummeted 22.6% on Black Monday, October 19, 1987, considered statistically 'impossible' with 25 standard deviations. The Brazilian stock market, tracked by the EWZ ETF, also experienced a rare drop of 19.8%, equivalent to 8.4 standard deviations, according to Kobeissi Letter. This event has a probability of 1 in 58 quadrillion under a normal distribution. The EWZ ETF has seen similar extreme drops, including 23.09% on March 16, 2020, and 19.6% on October 15, 2008. The EWZ closed 0.4% higher today.",
  "summary": "In its largest percentage fall in a single day, the Dow Jones plummeted 22.6% on Black Monday, October 19, 1987 – a very rare phenomenon driven by widespread panic heightened by the then novelty of computerized trading models. The crash of this magnitude was considered statistically ‘impossible’ – a 25 sigma event, or 25 standard deviations.",
  "key_points": [],
  "editors_take": "Extreme market fluctuations defy conventional statistical models, proving that human behavior and algorithmic trading can trigger massive losses that traditional risk assessments fail to predict.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}