No.
When I was a kid watching news on one of the three TV stations we had reception for, it was rare that the market moved more than five points a day. Usually less than one or two. We are just in an era of wider swings.
Whenever I see folks on CNN getting all excited about a 3-400 point drop, I recall the Simpsons episode where Ralph Wiggum is standing by the mailbox, raising and lowering the flag. Every time he put it up he would cheer, every time he put it down he would cry. Again and again, over and over....
I hear so often that the current cause is the drop in oil prices. Almost like we are supposed to be GLAD if gas goes back up near 4 bucks a gallon. I'll take $1.50 gas any day.