The next measurable step in a falling market would be measuring it against the 2008 economic collapse. We are not near anything like that, but the Dow is off approximately 3,000 points just this week.
The linked story notes that a few stocks are up, like Clorox, which makes cleaning supplies with bleach in it. One of the big questions that companies and building owners and operators will have is how to clean their facilities to make sure the virus is not spreading due to ineffective cleaning methods.
It is the unknowns that is unsettling to people and markets. Using precise language would be helpful. It is important to say what we do know and what we don't know. Assumptions are the enemy of future announcements that will not be believed.
Stick to the facts!