Dow's 50 worst days
Wall Street continued to make the wrong kind of history on Monday, posting the sixth-worst loss the Dow has ever seen.
Updated Monday, Aug. 8, at 5:06 PM ET
The Dow closed down 5.6% to 10,810, its 48th-worst percentage loss. That came on the heels of last Thursday's 512.76-point loss. The blue chips have fallen 11% in the first six trading days of August, the worst start for an August ever.
On Sept. 29, 2008, the Dow plummeted 777.68 points, its largest point loss ever.
Here is how Monday's loss compares.
|The Dow's biggest point losses|
Congrats to all of the people who have pointed out the irrelevance of comparing the loss based on points!
Unfortunately, I believe the writers of these kind of articles know that they are misleading but they don't care because they are just trying to be dramatic and want people to become traumitized so that they will read more of the same "sky is falling" mentality that is prevasive in much of today's journalism. Where is the ethics in journalism anyway?
Without a DOUBT, There should a be a "percentage drop list" side by side.
And then put their computers to work,along with brain power to develop an
"INFLATION adjusted list" also...Then and there, we would have the "TRUE" comparisons.
It's very good to see MSN readers,were not taken in by this HOOEY.
Charley, the readers have given you and the others, A GREAT ASSIGNMENT !! Please.
Sorry Charley...Thought this was your list or doing........IT'S NOT
But still a good idea for someone to do a comparable percentage chart.
Side by Side.
How about adjusting for inflation?
An 11,300 point Dow in 2011 is far smaller than a 10,300 point Dow in the year 2000.
The Dow's 10 worst days
5 of the worst days happened in between 1929 and 1933
2 of the worst dayts happend in 19887 & 1988
the otehr three happended in 1899, 1907 & 2008
By percent decline:
- Oct. 19, 1987: 22.6 percent, or 508 points
- Oct. 28, 1929: 12.8 percent, or 38 points
- Oct. 29, 1929: 11.7 percent, or 31 points
- Nov. 6, 1929: 9.9 percent, or 26 points
- Dec. 18, 1899: 8.7 percent, or 6 points
- Aug. 12, 1932: 8.4 percent, or 6 points
- March 14, 1907: 8.3 percent, or 7 points
- Oct. 26, 1987: 8 percent, or 157 points
- Oct. 15, 2008: 7.9 percent, or 733 points
- July 21, 1933: 7.8 percent, or 8 points
- Sept. 29, 2008: 778 points, or 7 percent
- Oct. 15, 2008: 733 points, or 7.9 percent
- Sept. 17, 2001: 685 points, or 7.1 percent
- Dec. 1, 2008: 680 points, or 7.7 percent
- Oct. 9, 2008: 679 points, or 7.3 percent
- April 14, 2000: 618 points, or 5.7 percent
- Oct. 27, 1997: 554 points, or 7.2 percent
- Oct. 22, 2008: 514 points, or 5.7 percent
- Aug. 4, 2011: 513 points, or 4.3 percent
- Aug. 31, 1998: 513 points, or 6.4 percent
I remember October 19 1987 very well as well.
Another key mistake made by many investors that day was to place a sell order on mutual funds early in the day when loss was only 5% or so but they later found out that when you sell a mutual fund you get the end of day price which was a huge wake up call for many.
Those that bought funds that day (Oct 19) from cash account also did very well indeed!
Your correct, I missed that in my research on Google. My apologies.
Percentages do portray a more accurate picture than point drop, and 2008 was a banner year for tremendous loss in the financial markets Approximately 40% for the year, which lead to unprecedented job loss, loss in savings, loss in retirement accounts.
The Republicans and the Democrats are both to blame for allowing the financial loop holes to occur.
After the 1929 crash, Banks were no longer allowed to sell stocks or insurance. In the 1950's they could sell stock again. In the 1990's they could sell insurance again. My opinion is that congress needs to get its act together and stop squabbling over nonsense and consider the long term goals of stabilizing our nation and it's markets.
While it's unpopular, we need to raise taxes and lower spending to erase the past 10 years of tremendous national debt growth. This means less funding for programs and taxing income levels appropriately based on today's value of the dollar not the value ten or 20 years ago.
yaknow... The oil deregulations happend in the 1990's and thus the $4/gal at the pump which then caused the housing bust and the trickle down effect through today. There are many factors that got us here, for today's economy, so has anyone of us done so much to correct their own habits, to make sure that your debts are fully paid for and then help and encourage your neighbores to do the same.
The situation is large. it didn't happen with just Obama or the current Congress or overnight, And there isn't a sure fire way to fix the problem.
Did you know that most devorices happen because the root of their problems were caused by money woes. That is just (2) people. How many in Congress and all of their aids and researches. then you add in the media and then the peanut gallery.... We elected these people. All those who didn't VOTE should not be complaining. Do your reasearch on how your Rep's vote, your senetor's vote. and then see what they are saying in their campaigns.
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[BRIEFING.COM] The major averages spent the entire session in a steady downtrend, but despite persistent selling pressure, today's losses were limited in scope. The Dow, S&P 500, and Nasdaq shed between 0.2% and 0.3% while the Russell 2000 lagged, falling 0.9%.
The underperformance of the Russell 2000 was likely owed in part to tax-loss selling, which tends to pick up this time of year. Small-caps often feel that pinch in a stronger fashion than large-cap issues since individual ... More
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