I don't think it broke any real records, the only one is the absolute point drop in the indexes, but that's a meaningless stat that will constantly be broken in the future as the economy grows - proportion is what's interesting.
My bad, it did not break records outside the 1987, dot-com and GCF crises, made a mistake there. However, I don't agree with the theory of infinite economy growth (as you said "constantly be broken in the future").
It's hard to objectively calculate how large the impact from corona virus will be and how it has affected the supply chain. Additionally, this could be a black swan event that could become a catalyst, this is not an isolated event and it will send a shockwave across the markets.
The losses in earnings as well as the reduction of consumption are hard to estimate, they need to be priced in into the stock's price which might be currently undervalued or overvalued. The idea is that no one knows exactly what the prices should look like. You might go for the S&P yield and end up losing 20% in the short term because of the price tanking.
The point is that investors like certainty, that's why some are holding cash or even a mix of bonds, cash and gold. They might prefer lower yields than S&P and more certainty.
I did help him remove the keylogger and explained him what I did. We've known each other since kindergarden. Plus, it was a mutual challenge, a capture the flag situation.