Economy Today

The Dow Jones Has Its Largest Single-Day Point Drop in History

.

The day started with silence and things just got worse from there, ending in the single biggest one-day point loss in history.

Stocks Have Miserable Day After House Vote

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.

Source: ABC News - 29/Sept/2008