the American economy slowed from 7.2% real GDP growth to −2.1% contraction, while inflation (by CPI) jumped from 3.4% in 1972 to 12.3% in 1974.
The effect was worse in the United Kingdom, particularly on the London Stock Exchange's FT 30, which lost 73% of its value during the crash.
Thanks for the clarification!
So more important than the falling stock markets, we may have to worry about keeping our jobs, homes and feeding our families. This is shaping up to be another historic event, like the 08 great recession. Shops closing, travel restrictions, school, universities and workplace, forced shop closures on the high street (think Italy), this time will be different for sure.
I was hoping for an ordinary recession this time with a chance to benefit from the rebound. I have read fortunes can be made during times of great financial crisis.
I will keep up to date with other posters on here throughout this crisis,(It provides comfort that I'm not alone in this as well as motivation.) I aim to keep up my plan of steady buying even if they announce the world is ending tomorrow.
What will be will be! I'll probably try and put away a hundred quid each payday as cash buffer for emergency spending, with the rest is going into income ITs.