What was the Dow Jones at in October 2008?
The Dow would plummet 3,600 points from its Sept. 19, 2008 intraday high of 11,483 to the Oct. 10, 2008 intraday low of 7,882.
What percentage did the Dow drop in 2008?
From October 6–10, 2008, the Dow Jones Industrial Average (DJIA) closed lower in all five sessions. Volume levels were record-breaking. The DJIA fell over 1,874 points, or 18%, in its worst weekly decline ever on both a points and percentage basis.
What was the major cause of the 2008 economic crisis in the US?
The financial crisis was primarily caused by deregulation in the financial industry. That permitted banks to engage in hedge fund trading with derivatives. Banks then demanded more mortgages to support the profitable sale of these derivatives. Housing prices started falling in 2007 as supply outpaced demand.
How long did it take the economy to recover from 2008?
Since 1900, the average recession has lasted 15 months while the average expansion has lasted 48 months, Geibel says. The Great Recession of 2008 and 2009, which lasted for 18 months, was the longest period of economic decline since World War II.
Who is most responsible for the financial crisis of 2008?
The Biggest Culprit: The Lenders Most of the blame is on the mortgage originators or the lenders. That’s because they were responsible for creating these problems. After all, the lenders were the ones who advanced loans to people with poor credit and a high risk of default. 7 Here’s why that happened.
What is the current price of the Dow Jones industrial average?
Dow Jones – 100 Year Historical Chart. Historical data is inflation-adjusted using the headline CPI and each data point represents the month-end closing value. The current month is updated on an hourly basis with today’s latest value. The current price of the Dow Jones Industrial Average as of November 06, 2018 is 25,635.01.
What happened to the Dow in 2008 on September 29?
The Dow bounced around 11,000 until Sept. 29, 2008, when the Senate voted against the bailout bill. 14 The Dow fell 777.68 points during intraday trading. 15 Global markets also panicked: To restore financial stability, the Fed doubled its currency swaps with foreign central banks in Europe, England, and Japan to $620 billion.
What happened to the stock market in 2008?
2008 was a Historic year for the Dow Jones Industrial Average ( DJIA ) and the overall Stock Market. 2008 started off with the Dow Jones breaking down through 13,000 with massive volume on recession fears. The saying goes, whatever the Stock Market does in January is how the rest of the year would go.
What happened to the Dow Jones in October?
The Dow Jones industrial average wound up one of its most volatile months ever. The Dow plunged 14.1%, or 1526 points, through Oct. 31. The Dow has enjoyed only seven positive days in the month, and none of them were consecutive until this Thursday and Friday.