Since there is a maximum reputation cap, is there also a cap for how much can be lost in a day?
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No, there is not (until you reach 1 rep). Because there is a -100 penalty for spam/offensive posts, this is probably a good thing.
No, there is no kind of cap for rep loss, except the fact that you can't have negative reputation.
If you get to 1, and keep losing rep, you will stay at 1.
It's like san loss, once you hit rock bottom you can't get any more insane. What were we talking about?
No, there is no cap on the rep loss.
(You can't go below 1 though, so actually, the cap is the rep you have now minus 1)