They probably do sensationalize it, but actually I like that this article gives perspective by saying it was the worst since Brexit, right in the title.

Knowing that it's the worst day in 1.5 years is a quantitative summary for lay people of how significant the news is.

In this case, I suspect for people with a particular interest in the market (like those would follow money.cnn.com), this actually is a large event for them.