To

put some risk

context

behind how poor a ~7% drop is -in relation to the worst losses over different time (not just relative to all daily changes)- we look at a

variety

of time units.

This is different from the market convolution math discussed previously ( here here ).

For example, today’s loss in China is worse than 93% of the

worst daily losses per m

onth

, since 2007.

We see this in the chart immediately below.

And in the chart further below that, we see today’s loss is worse than 67% of the worst daily losses per year.

Lastly,

in that same chart, we show China’s first day loss is worse than even the majority of the

worst weekly losses per year

!

This conservative measure substantiates that on just a single day, the losses stemming from China has breached

most

of the

worst risk levels

that would normally take a complete week to get through.