BREAKING: Brazil's -19.8% stock market crash on Monday was one of the rarest market events in the last two decades, according to our analysis. Brazil's EWZ ETF plunged -19.8% on October 26th, marking an 8.4 standard deviation move. For context, the ETF's average daily move over the last 20 years has been just +0.04%, with a standard deviation of 2.36%. Under a normal distribution, the probability of a decline this extreme is approximately 1 in 58 quadrillion. In other words, this event should be virtually impossible under conventional statistical models. What just happened in Brazil was *almost* impossible.