The only part that wasn't real was the fact that the futures hit the limit-down circuit breakers, which means the market wasn't totally free. Otherwise, yeah. T

The only part that wasn't real was the fact that the futures hit the limit-down circuit breakers, which means the market wasn't totally free. Otherwise, yeah. That's real money. A bunch of people overreacted and sold SPX 6% lower than where it closed the next day. Potentially they were hedging derivatives, but either way, frantically selling in a sliding market is not a position you want to be in.