Everyone is saying the DJIA has fallen 42% from its high a year ago (or a year and a day?)
I have poked around, and to show my lack of Google-fu am unable to find the market top.
What day was the highest DJIA close? At what level?
Thank you. I am being dumb today for some reason.
10/09/07
14,164.53
This appears to be the high point:
9-Oct-07 14,164.53
Closing High: 14,164.53
Date: October 9, 2007
Scroll down to RECORD HIGHS.
On October 9, 2007, the Dow Jones Industrial Average closed at the record level of 14,164.53. Roughly on-par with the 2000 record when adjusted for inflation, this represented the final high of the cyclical bull.
is directly from the Wikipedia article.
Intelligence peaked a year ago, and is now down 42% ?
Thank you all.
I am only down 20%, so somehow that means I am making money.
Now it reads like this;
*The crisis unfolded over weeks, but it is useful to look at Thursday, 9 October, 2008. The market tumbled on the heaviest trading day ever up to that point, almost 8.3 shares trading hands. After a calm morning, sellers hit hard in the last two hours of trading, driving the average down 679 points, a seven percent loss in a single afternoon.
General Motors fell 31% on news new-vehicle sales were falling to fifteen-year lows. Exxon Mobil, and Chevron both lost about 12%
Perhaps more illustrative is the fact that exactly a year before, the market had reached a then-all-time high close of 14,164.53. On 9 October 2008, it closed down 42% from that high water mark at 8,579.91.
The bottom line is we’re witnessing a complete panic.
-Trevor Callan
But keep in mind, the crash of 9 October came close on the heels of the crash of 17 September 2008, down 7.13% and the crash of 29 September 2008, down 6.98%. The effect was like a series of hammer lows.