The current crash has been languishing at number 5 in the Top 10 list of all time crashes. But, this week the markets seem to have taken fright at the sheer scale of Obama’s “rescue package”. The DJIA has been slipping all week and as I write this post….has just reached 7336.
If this level is maintained at today’s close the market will have fallen by 48% from its all time peak of 14166, achieved on 9 October, 2007. This would put the crash at Number 4 in the all time top 10, beating the 1929 crash. The latter marked the end of the “Roaring 20’s” and the start of the Great Depression.
Update 21 February: The Dow Jones finally closed at 7366, exactly 48% below the 9 October 2007 peak, So this Millenium Crash rises up the Top 10 Chart of worst stock market crashes to…… Number 4!!
See the full list of Top 10 Market Crashes HERE
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