Stock market crashes are sudden, scary, and surprisingly common. According to Christian Mueller-Glissmann, a strategist at Goldman Sachs, crashes of at least 20% are incredibly painful because of their rapid pace and long recovery times, but they're also more frequent than you may expect. Since 1950, there have been 57 such crashes in four of the world's major indexes (the US' S&P 500, the UK's FTSE All Share, Germany's DAX, and Japan's TOPIX). Mueller-Glissmann also notes that the drawdowns are beginning to happen in concert. Crashes in the 1960s, 1970s, and early 1980s were relatively disconnected. In recent instances, such as the tech bubble burst and the financial crisis, the precipitous drops have been more coordinated. [stock market crashes since 1950]Goldman Sachs NOW WATCH: FORMER GREEK FINANCE MINISTER: The single largest threat to the global economy
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