How far would the stocks have fallen if the US hadn’t pumped absolutely massive amounts of money into the stock market? When it falls and keeps falling people suddenly realize how worthless all the paper stocks they have been buying are and don’t want to keep buying more. I suspect 30% drop would have been the tip of the iceberg and no one asked me if I wanted my tax dollars spent this way so the rich that own all the equities could keep their paper gains.

Top 1% own 38% of the value in stocks.