The Dow Jones Has Its Largest Single-Day Point Drop in History
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The Dow Jones industrial average lost 777.68 to close at 10,365.45. The previous biggest point drop came on Sept. 17, 2001, the first day the market reopened after the 9/11 terrorist attacks.
A jittery stock market spent all morning in negative territory as investors worried about the $700 billion bailout package before Congress today.
By 1:40 p.m. it became clear that the House was not going to pass the bill, and stocks went into a freefall; the Dow fell 400 points in 10 minutes before eventually dropping 700 points below Friday's close.
The Nasdaq and S&P 500 also posted massive losses, down 9.1 percent and 8.8 percent respectively.
The Nasdaq and S&P 500 also posted massive losses, down 9.1 percent and 8.8 percent respectively.
Source: ABC News - 29/Sept/2008