Bottom Of The Barrel

Dow drops again

The Dow Jones Industrial Average was down today, 508.39 points, marking the 6th largest single day loss in the history of the stock market. This joins the other huge losses [3 days with a total of 1,731.52] we have seen in the past month. Here is a list of the top 10 days, or more accurately, the bottom 10 days of trading in the stock market's history:

Date               Net Loss
9/29/2008     777.68
9/17/2001     684.81
4/14/2001     617.77
10/27/1997   554.26
8/31/1998     512.62
10/7/2008     508.39
10/19/1987   508.00
9/15/2008     504.48
9/17/2008     449.36

Looking at the past 16 days for the average, it doesn't look good:



Note the green line indicates the failed first vote on the bailout while the green line shows when it was finally approved.

So when is the 700 Billion Dollar Emergency Economic Stabilization Act of 2008 going to take effect and stabalize the markets? I hope it's soon before my 401k is completely depleated and I have to start all over again.

Labels: Finance

posted by TheWino @ 6:01 PM