You can’t really use past market events as a reference for anything happening now. The global system is completely different and changing very fast. The longer term implications here are that the U.S. Govt has been out of money for a while and there is a ton of upcoming debt to issue. Part of the response to this is to fund the Govt using tariffs, and begin shrinking the deficit by using the economic problems and the total debt to justify it. They are trying to avoid a debt crisis where there is more debt being issued than buyers. The problem is that this time, with other options existing for capital than Treasuries, which given the circumstances, the old idea that people run to Govt debt when the markets crash for safety just might not hold up this time. The end result is that they haven’t solved anything, and in fact made the upcoming debt crisis much worse. What’s more is that the old reserve currency dollar system being replaced will accelerate now as trade is forced to route around the U.S. There are so many second order effects here too, all of this will kick off a justification to privatize everything and have the private sector jump in to save and replace Govt functions. What they have wanted to do all along anyway, and given the current political climate will mirror the oligarchs taking over Govt functions after the collapse of the USSR. This is just more of a controlled demolition.

Sorry for the wall of text. Also, a bretton woods style agreement will be necessary, it’s just that there is no single world power strong enough to enforce one. The futures for Monday look pretty bad too, and there are so many unresolved problems since 2008 that could blow up one after another once all the liquidity is removed and there is no one willing to purchase all the upcoming debt.