How the Market Endures Through a Decade of Drama

If you’ve been investing over the past decade, you’ve lived through a masterclass in market resilience: global pandemics, geopolitical invasions, inflation surges, government shutdowns, and banking crises. Each time, headlines warned us—“This time it’s different.” And each time, that warning proved to be more emotion than fact.

Now, new concerns dominate the headlines: escalating tensions in the Middle East, the looming possibility of U.S. involvement in the Iran–Israel conflict, renewed tariff debates, and uncertainty over sweeping tax legislation.

So… is this time really different?

Let’s take a look back at the past ten years—at some of the most jarring events, the panic-inducing headlines, and how the markets actually performed in the aftermath. You may find that the greatest threat to long-term investors isn’t the crisis of the moment—it’s forgetting how often we’ve been here before.

1. Brexit Vote – June 2016
• Headline: “Brexit: Britain shocks world by voting to leave the EU”
— CNN, June 24, 2016
• Dow Jones: 17,400

Markets tumbled in the immediate aftermath—but rebounded within weeks. Long-term? The Dow nearly doubled in the years that followed.

2. U.S. Election Shock – November 2016
• Headline: “Markets plunge worldwide as Trump wins presidency”
— The Guardian, November 9, 2016
• Dow Jones: 18,332

After a single overnight sell-off, the market reversed and began a historic climb. “Trump Rally” entered the lexicon.

3. COVID-19 Pandemic – March 2020
• Headline: “Dow plunges 2,997 points as coronavirus collapse continues”
— CNBC, March 16, 2020
• Dow Jones: 20,188

This was the fastest bear market in history. But by August 2020, markets had recovered. By the end of 2021, the Dow was at 36,000+.

4. Capitol Riots & Political Unrest – January 2021
• Headline: “Dow closes at record high despite Capitol chaos”
— Yahoo Finance, January 6, 2021
• Dow Jones: 30,829

Even in the face of unprecedented political chaos, the markets focused on recovery, stimulus, and long-term growth.

5. Inflation & Rate Hikes Panic – June 2022
• Headline: “Stocks tumble as inflation hits 40-year high”
— Bloomberg, June 10, 2022
• Dow Jones: 31,392

Inflation fears rocked the market—but not permanently. Rate hikes were absorbed and eventually normalized.

6. Regional Bank Collapse – March 2023
• Headline: “Silicon Valley Bank collapses in biggest bank failure since 2008”
— Reuters, March 10, 2023
• Dow Jones: 31,909

Fears of systemic collapse were widespread. Yet the market stabilized, and the Fed quickly acted to prevent contagion.

7. War in the Middle East – October 2023
• Headline: “Hamas launches surprise attack on Israel”
— BBC, October 7, 2023
• Dow Jones: 33,407

Geopolitical crises often create temporary fear—but rarely result in long-term market devastation.

Despite all the chaos, the Dow climbed from around 17,000 in 2016 to over 42,000 by 2025.

Here’s a powerful truth: the average intra-year market drop is 14.1% (source: JPMorgan Asset Management). That means markets fall every year—often sharply—but more often than not, they recover and keep moving higher.

Because fear sells. “This time is different” isn’t just reporting—it’s a dramatic story that demands your attention, drives clicks, and keeps you coming back for more. But history tells a different story: the headlines change, the players shift, but the long-term trajectory of the market continues to rise.

The Real Lesson for Investors

Panic is loud. Strategy is quiet.
The most successful investors don’t get swept up in the noise—they stick to their plan, stay diversified, and keep long-term goals in focus.

Want to Protect Your Future?

The next storm will come—it always does. The key is being ready. That means focusing less on the headlines and more on what truly matters: a solid, forward-looking plan tailored to you.

At Carver Financial, we take a proactive, personalized approach to planning. We monitor your portfolio consistently and make thoughtful, customized recommendations based on your unique goals and vision.  We make adjustments that take advantage of uncertainty.

While we use cutting-edge technology to enhance your experience, we never outsource your future to an algorithm. Unlike firms that delegate portfolio management to AI, our experienced advisors work personally with you to help navigate uncertainty and pursue long-term success.

Have questions or want to review your plan? We’re here to help—because your vision is our priority.

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Any opinions are those of Randy Carver and not necessarily those of Raymond James. This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete.

In today’s digital age, our lives are increasingly intertwined with technology, often leading to the accumulation of various digital assets. These assets, ranging from online financial accounts to social media profiles, hold both sentimental and monetary value.

However, without proper estate planning, these digital possessions can become inaccessible or lost upon one’s passing. This blog post outlines essential steps to ensure your digital assets are effectively managed and transferred according to your wishes.

Examples of digital assets

Digital assets encompass a broad spectrum of electronic possessions, including the following:

• Financial accounts: Online banking, investment portfolios, cryptocurrency wallets non-fungible tokens (NFTs), which are unique digital assets that you can buy, sell and trade, stored on a blockchain. NFTs represent assets such as digital games, music, art, videos and collectible items.
• Medical records: These are some of your most important digital assets
• Personal media: Photos, videos and documents stored on cloud services or personal devices
• Social media profiles: Accounts on platforms like Facebook, Instagram, LinkedIn and X (formerly Twitter)
• Subscriptions and memberships: Digital subscriptions to services such as Netflix, Amazon Prime or online publications
• Intellectual property: Domain names, blogs and other online content you’ve created

Balancing ease of access with privacy

Managing your digital assets requires thoughtful planning and the guidance of an estate-planning professional. Sorting through tangible assets is difficult enough when a loved one dies; it can be extremely time-consuming, frustrating and difficult for loved ones when someone also has a lot of digital assets but leaves no instructions about how to access them.

However, you want to balance the ability of your executor to access these assets easily with privacy. For example, you might want some information accessible while keeping your personal emails private. Or you might want to grant access to your business information but not your personal details. To accomplish this, you can grant your executor access to some digital accounts while excluding others, or you can select different people to receive access to different accounts.

Why it’s important to include digital assets in your estate plan

Incorporating digital assets into your estate plan is crucial for several reasons:

• Accessibility: Without proper documentation, your loved ones may struggle to locate or access your digital assets, leading to potential loss of valuable information or funds.
• Security: Proper planning helps protect your digital assets from unauthorized access or potential fraud after your passing.
• Preservation: These assets can help ensure that sentimental items, such as family photos or personal writings, are preserved for future generations.

Steps to incorporate digital assets into your estate plan

Here are six steps to help you get started.

1. Create a comprehensive inventory

Begin by listing all your digital assets, including the following:

• Account names and types, including online shopping sites, customer-loyalty programs and even gaming avatars
• URLs, web addresses and domain names you have registered
• Usernames and associated email addresses
• Passwords and security questions
• Tax software and documents, bookkeeping records, proprietary business software and client data

Include information for all your electronic devices. Store this inventory securely, such as in a password-protected document or a reputable digital vault, so your executor can access them easily.

2. Understand legal considerations

Familiarize yourself with the legal aspects of digital asset management:

• Terms of service agreements: Each digital platform has its own policies regarding account access and transferability after death. Review these terms to learn what is permissible.
• State laws: Legislation like the Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA) provides a framework for fiduciary access to digital assets, but its adoption and specifics can vary by state.

3. Incorporate digital assets into your legal documents

Just as you would any other assets, explicitly address digital assets in your estate-planning documents:

• Wills and trusts: Specify how digital assets should be handled and who should have access to them. Do not include passwords in your will, though, because it will become a public document upon your death.
• Powers of attorney: Grant trusted individuals the authority to manage your digital assets in case you become incapacitated.

Clearly outlining your wishes can help prevent legal challenges and ensure your digital assets are managed as intended.

4. Designate a digital executor

Appointing a digital executor — a person responsible for managing your digital assets after your death — can streamline the process of distributing them as you wish. This individual should be trustworthy and tech-savvy, capable of navigating various digital platforms. The legal recognition of digital executors varies by jurisdiction, so consult with an estate-planning attorney to ensure compliance with local laws.

5. Use online tools

Some platforms offer features to manage your account posthumously. Here are a few examples:

• Google’s Inactive Account Manager: Allows you to decide what happens to your account after a period of inactivity.
• Facebook’s Legacy Contact: Enables you to designate someone to manage your memorialized profile.
• LinkedIn does not have a legacy feature. However, if you are legally authorized to act on behalf of a deceased LinkedIn member, you can submit a request to have that person’s account closed or memorialized. If you are not authorized, you can still report the member as deceased, and LinkedIn will memorialize the profile.

Leveraging these tools can provide additional layers of control over your digital legacy.

6. Update your plan regularly

Digital assets and platforms evolve rapidly. Just as we review your financial portfolio regularly to and adjust it as needed, we recommend that you regularly review and update your digital estate plan. We want to make sure that new assets are included, outdated information is removed and your wishes are current.

Conclusion

As our digital footprints expand, integrating digital assets into estate planning becomes increasingly vital. By taking proactive steps — such as creating a detailed inventory, understanding legal considerations and updating your plan regularly — you can ensure that your digital legacy is preserved and managed according to your wishes. Consult with estate-planning professionals who can provide personalized guidance tailored to your unique digital-asset portfolio.

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Any opinions are those of Randy Carver and not necessarily those of Raymond James. This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete.

At any given time, global events — and the deluge of headlines about them — can contribute to significant shifts in the markets. However, history has shown us time and time again that whenever the markets experience even significant declines, they have always recovered and gone on to reach new highs. We cannot predict how long it will take for the stock market to recover, but historically, it always has.

One common denominator among all market crashes is investor panic. The markets are quite resilient; however, when events such as global crises, economic downturns and speculative bubbles happen, it can cause widespread panic among investors, who begin to sell their stocks en masse, leading to sudden and significant market downturns.

A stock market crash occurs when a broad market index, such as the S&P 500 or the Dow Jones Industrial Average (DJIA), undergoes a sudden and severe drop — typically 10 percent or more over a few days. Unlike regular market corrections, crashes are marked by their speed and intensity. In contrast, a recession is a significant, persistent, and widespread contraction in economic activity. Since the Great Depression, the United States has suffered 14 official recessions.

Following a financial crisis, the US economy typically recovers through a combination of monetary policy (actions by the Federal Reserve to manage interest rates and the money supply) and fiscal policy (government spending and tax adjustments) aimed at boosting demand and stimulating growth.

To show you how the markets have recovered, even following significant crashes, I’ve put together examples of 10 notable crashes, market events, and recoveries in U.S. history since 1980.

There are several indexes we could track, but here, I note the rises and declines in the DJIA, which is considered a gauge of the broader U.S. economy. The DJIA is a stock market index that tracks 30 large, publicly owned blue-chip companies that trade on the New York Stock Exchange (NYSE) and Nasdaq. This index is named after Charles Dow, who created it in 1896 with his business partner, Edward Jones.

As you read about these ups, downs and rebounds, I hope you will realize how critical it is to focus on your long-term vision and ignore the foreboding headlines and the inevitable market fluctuations.

The 1981–82 recession

(The Dow fell from 1,024 to 776 and rebounded to 875.)

The United States entered a recession in January 1980, caused primarily by a disinflationary monetary policy adopted by the federal reserve and cuts in domestic spending made by Ronald Reagan. This recession is actually considered to be two separate recessions. The “1980 recession” lasted throughout the first six months of the year, and “the early 1980s” recession lasted from July 1981 to November 1982.

From February to April 1980, the DJIA fell 16 percent. As a result, the Federal Reserve cut the Fed Funds rate to 8.5 percent. This adjustment caused the Dow to rise, and the Fed brought rates up to combat inflation. That caused the Dow to fall 22 percent. This is considered to be the worst recession since the Great Depression, except for the 2008 recession.

The Dow fell from a peak of around 1,024 in April 1981 to a low of around 777 in August 1982, representing a decline of more than 22 percent.

But then the US economy rebounded through a combination of policy changes, including deregulation, tax cuts and a reduction in government spending. Also contributing to the recovery was a shift toward a focus on controlling inflation, which eventually led to sustained economic growth.

The DJIA closed out 1980 at 963.99 and 1981 at 875.00.

The stock market crash of 1987

(The Dow fell from 2,247 to 1,739 and rebounded to 1,938.)

The first contemporary global financial crisis began on October 19, 1987, a day known as “Black Monday,” when the DJIA dropped 22.6 percent in a single trading session. The Dow fell from 2,246.74 to 1,738.74, a loss of 507.99 points, the largest one-day stock market decline in history.

The markets had done well in the first half of 1987. In fact, the DJIA had gained 44 percent in just seven months, by late August. In mid-October, a series of negative news reports undermined investor confidence and led to additional volatility in markets. Plus, the federal government disclosed a larger-than-expected trade deficit, and the dollar fell in value. The markets began to unravel, foreshadowing the record losses that would develop a week later.

To address the crisis, then-Fed Chairman Alan Greenspan encouraged banks to continue to lend on their usual terms. He also affirmed, in October 1987, the Federal Reserve’s “readiness to serve as a source of liquidity to support the economic and financial system.”

As a result, stock markets quickly recovered a majority of their Black Monday losses. In just two trading sessions, the DJIA gained back 288 points, or 57 percent, of the total Black Monday downturn. Less than two years later, US stock markets surpassed their pre-crash highs. The DJIA closed out 1987 at 1,938.83 points.

As central banks cut interest rates, financial markets in the United States and Europe fully recovered. In fact, five years later, markets were rising by about 15 percent a year.

The Asian financial crisis of 1997

(The Dow fell from 7,715 to 7,161 and then rose to 7,908.)

In the fourth quarter of 1997, currency devaluations and economic instability in Asia impacted global financial markets. On October 27 and 28, 1997, the nation’s securities markets fell by a record absolute amount on then-record trading volume.

On Monday, October 27, the DJIA declined 554.26 points, from 7,715.41 to close at 7,161.15 — a loss of 7.18 percent. And then on Tuesday, October 28, market prices initially resumed their decline before rallying sharply. The DJIA closed up 337.17 points at 7498.32, an increase of 4.71 percent. The DJIA closed out 1997 at 7,908.30.

The dot-com bubble on March 11, 2000

(The Dow fell from 11,723 to 7,286 and rebounded to 10,022.)

The “dot-com bubble,” also known as the “internet bubble,” occurred from 1995 to 2001. That bubble burst in 2000 due to a combination of factors, including overvaluation of tech companies, an abundance of venture capital, a media frenzy and ultimately, a shift in investor sentiment as the reality of many companies’ lack of profitability became apparent.

As the World Wide Web became available to the general public, investors rapidly made significant equity investments in internet-based companies (dot-coms). That led to inflated market valuations and a subsequent market crash. This event was characterized by a rapid rise and subsequent fall in technology stock prices.

The Dow fell from 11,722.98 on Jan. 14, 2000, to 7,286.27 on Oct. 9, 2002, a loss of

37.8 percent. However, the DJIA closed out 2001 at 10,021.57.

Market declines after the 9/11 attacks in 2001

(The Dow fell from 9,606 to 8,921 and rebounded to 10,022.)

Also wreaking havoc on the markets in 2011 were the terrorist attacks on Sept. 11, 2001. The unprecedented terrorist attacks on American soil increased market volatility and investor anxiety and led to a sharp plunge in the stock market. The total loss in market value was $1.4 trillion. Following the attacks, the New York Stock Exchange and the Nasdaq remained closed until Sept. 17, the longest shutdown since the Great Depression.

On the first day of NYSE trading after Sept. 11, the DJIA fell 684 points, a 7.1 percent decline. At that time, it was a record for the biggest loss in the exchange’s history for a single trading day. (This record has since been eclipsed by the market reaction during the global coronavirus pandemic). The close of trading that Friday ended a week that saw the biggest losses in NYSE history.

The DJIA closed down around 684.81 points, from 9,605.51 to 8,920.70 — the biggest one-day point loss ever at the time. However, again, the DJIA closed out 2001 at 10,021.57.

The stock market crash of 2008–09

(The Dow fell from 11,143 to 6,470 and rebounded to 10,428.)

The 2008 financial crisis resulted from a convergence of multiple factors, including a glut of subprime mortgages a housing bubble, risky mortgage lending, complex financial products and inadequate regulation. The collapse of Lehman Brothers and the ensuing global financial crisis led to severe market downturns worldwide.

Between 2007 and 2009, U.S. households lost more than $16 trillion in net worth. Also, the value of the stock market fell by half, unemployment reached 10 percent and the crisis turned into the Great Recession. On September 29, 2008, the DJIA had a record- breaking drop of 777.68, from 11,143.13 down to 10,365.45 at closing. And then the DJIA hit a market low of 6,469.95 on March 6, 2009, losing more than 54 percent of its value since a high on October 9, 2007.

The bear market corrected on March 9, 2009, when the DJIA rebounded more than 20 percent from its low to 7,924.56 after only three weeks of gains. The Dow closed out 2009 at 10.428.05.

The Eurozone debt crisis of 2010

(The Dow fell from 10,444 to 10,068 and rebounded to 11,578.)

Triggered by high levels of public debt, this period of economic uncertainty in the Eurozone began in 2008 with the collapse of Iceland’s banking system. It then spread to Portugal, Italy, Ireland, Greece and Spain in 2009. Several of these countries, including Greece, Portugal, and Ireland had their sovereign debt downgraded to junk status by international credit rating agencies during this crisis, worsening investor fears. The crisis led to a loss of confidence in European businesses and economies.

On May 20, 2010, the DJIA fell 376.36 points, from 10,444.37 to 10,068.01 its biggest point drop since February 2009.

The crisis was eventually controlled by the financial guarantees of European countries, who feared the collapse of the euro and financial contagion, and by the International Monetary Fund (IMF). The DJIA closed out 2010 at 11,577.51.

The COVID-19 stock market crash in 2020

(The Dow fell from 27,554 to 20,188 and rebounded to 30,606.)

The 2020 stock market crash caused by the coronavirus began on February 20, 2020, and ended on April 7. The COVID-19 pandemic led to global economic shutdowns and investor panic. During this time, the stock market experienced the three worst point drops in U.S. history.

On Monday, March 9, 2020, the Dow fell 2,014 points, a 7.79 percent drop. On March 12, 2020, the Dow set another record by falling 2,352 points to close at 21,200. It was a

9.99 percent decline and the sixth-worst percentage drop in history. Finally, on March 16, the Dow plummeted nearly 3,000 points to close at 20,188, losing 12.9 percent. The drop in stock prices was so significant that the New York Stock Exchange suspended trading several times during those days.

The DJIA recovered, closing out 2020 at 30,606.48 points.

Record inflation in 2022

(The Dow fell from 32,911 to 32,273 and rebounded to 33,147.)

In May 2022, gasoline prices hit a record high, and the cost of food soared, leading to the largest annual increase in nearly 40½ years. There were growing concerns about a potential recession. The DJIA fell 638.11 points to end at 32,272.79 points.

By the end of 2022, the DJIA had rebounded to 33,147.25 points.

The banking crisis of 2023

(The Dow fell from 31,910 to 31,819 and rebounded to 37,690.)

Early in March 2023, a banking crisis took place after a rapid rise in interest rates caused the value of Silicon Valley Bank’s (SVB’s) bonds to plummet, as well as a “run” on the bank as depositors, fearing instability, withdrew their funds. In just a few days, SVB collapsed, along with Signature Bank and First Republic. They were among the biggest banks to fail in U.S. history.

The SVB downfall triggered the largest single-day bank run in U.S. history and led to aggressive action by the Federal Reserve, FDIC, Treasury Department and others to

prevent spillovers to the rest of the U.S. banking system. As a result of this crisis, the DJIA fell 90.50 points, from 31,909.64 to 31,819.14, a 0.3 percent loss.

The Dow closed out 2023 at 37,689.54 points.

As you can see, despite persistent negative media narratives that forecast economic downturns and market crashes, the Dow Jones Industrial Average has demonstrated remarkable resilience and growth over the past decades. At the end of March 2025, as usual, the headlines are full of negative news. However, on March 28^th, 2025. the Dow was at 41,583.90.

As always, we encourage you to keep your eyes on your long-term vision at all times and avoid bailing out of the market out of fear. While there is no guarantee of investment success, historically, investors who have stayed the course and held onto their stock holdings when the market crashes have been rewarded later. Remember, investing successfully requires a long-term approach.

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Any opinions are those of Randy Carver and not necessarily those of Raymond James. This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete.

Investing involves risk and you may incur a profit or a loss regardless of strategy selected. No investment strategy can guarantee your objectives will be met. Every investor’s situation is unique and you should consider your investment goals, risk tolerance and time horizon before making any investment decision.

The stock indexes mentioned are unmanaged and cannot be invested into directly. Past performance is no guarantee of future results.