Wednesday, October 15, 2008

9th worst market drop since 1929

Dow down 733 points (7.87%), its 9th worst day in history (and 7th worst since 1929). I wish the stupid press would stop reporting the meaningless "fact" that it's the 2nd worst point drop in history.
Oct. 19, 1987-22.60
Oct. 28, 1929-12.80
Oct. 29, 1929-11.70
Nov. 6. 1929-9.90
Aug. 12, 1932-8.40
Oct. 26, 1987-8.00
Oct. 15, 2008-7.87
July 21, 1933-7.84
Oct. 18, 1937 -7.75
Oct. 9, 2008-7.33

The Dow is now at 8578, exactly where it was last Thursday. My TV had told me that the bulls were in charge. Stupid TV.

ETA: A lot of sources give the above list as worst drops ever, but that is incorrect. There were drops of 8.7% in 1899 and 8.3% in 1907 that are not represented above.

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