Luna went from $100 to 1 cent.

UST was also meant to be a stable coin, it was sold as being equivalent to stacking your money in a savings account, just stable currency that follows the USD value. Lots of people took their money OUT of many coins, and moved it to UST for "stability" thinking that their nest was safe during the storm. (Of course their trust was misplaced as it was not equivalent to keeping your money at the bank, but that's what they were led to believe)

It's equivalent as if banks were bankrupting all over the place in the United States with no bank insurance from the government.

No common measure comparaison with the SP 500 being down for a few months (or even a few years).