If September was painful for investors, October was worse. Standard & Poor’s reckons that global equity markets lost $5.8 trillion in October, eclipsing September’s record $4 trillion. U.S. markets accounted for 40% of October’s loss. Aggregate loss for the year so far for the 52 global equity markets that S&P follows: $16.2 trillion. Much more of this and it will start to be serious money.