Recap just how bad October was

Let's recap just how bad October was for markets

The S&P 500 lost almost $2 trillion for its worst month since September 2011.

The Dow lost 5.1% for the month, the S&P 6.9%, and the Nasdaq 9.2%. The main drivers? Fears corporate America is closing in on peak earnings, concerns over a trade war with China, and worries about rising interest rates.

Here's the real kicker: It was the most volatile October in a decade...and October is known for putting equities markets on a roller coaster.

Via CNBC

So who put the red in red October?

Starts with "t," ends with "ech."

In two sessions earlier this week, Facebook, Amazon, Netflix, and Alphabet lost a combined $200 billion in market value...aka the equivalent of axing an entire Coca-Cola.

The tech-heavy Nasdaq logged its worst month since November 2008. And the S&P 500 information technology sector suffered its worst month since May 2010. Just five names in the 66-stock sector were in the black for October.

Before you head to the bunker...

Consider this:

• "The drop this month came out of nowhere. Usually that's a sign of a correction and not a bear market," said Personal Capital's Craig Birk to CNBC. "Usually a bear market rolls more slowly."
• And FWIW, as of earlier this week, nearly eight in 10 companies reported better-than-expected quarterly earnings this season. That's a 26.3% jump from last year.

And that's what brings hope to LPL Financial's Ryan Detrick. "Call us old school, but we still think earnings drive long-term stock gains, and this is a great sign amid all the market volatility."