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donsutherland1 · 07-11-08, 04:16 PM

The Dow Jones Industrials fell to 11,100.54. That is its lowest close since the Dow closed at 11,097.87 on August 14, 2006.

To date, the Dow Jones Industrials has now fallen 21.6% from its October 2007 peak of 14,164.53. In inflation-adjusted terms, the Dow is now 24.9% below its peak.

The S&P 500 closed at 1,239.49. That is its lowest close since July 18, 2006 when it closed at 1,236.86. To date, the S&P 500 has now fallen 20.8% from its October 2007 peak of 1,565.15. In inflation-adjusted terms, the S&P 500 is now 24.1% below its peak.

At one point this afternoon, the Dow Jones Industrials was trading as low as 10,977.68, down 251.34 points from yesterday’s close. However, later in the afternoon news that the Fed had indicated that it would grant both Fannie Mae and Freddie Mac access to its discount window briefly triggered a rapid recovery in stock prices. For a brief moment, the Dow Jones Industrials was up 12.05 points and the S&P 500 was higher by 3.88 points. Nevertheless, the reality that the fundamental risks confronting the two GSEs had not changed, along with a near-record closing price of $145.08 per barrel for crude oil, cut off the short-lived rally and stock prices again descended.

07-11-08, 04:16 PM	#33 (permalink)
donsutherland1 Moderator Mod team member Join Date: Oct 2007 Last Online: Today 03:09 PM Location: New York Posts: 2,273 Thanks: 719 Thanked 1,356 Times in 787 Posts Lean: Centrist Gender: Awards:	Re: U.S. Stocks Tumble: Some Comparisons from Past Recessions The Dow Jones Industrials fell to 11,100.54. That is its lowest close since the Dow closed at 11,097.87 on August 14, 2006. To date, the Dow Jones Industrials has now fallen 21.6% from its October 2007 peak of 14,164.53. In inflation-adjusted terms, the Dow is now 24.9% below its peak. The S&P 500 closed at 1,239.49. That is its lowest close since July 18, 2006 when it closed at 1,236.86. To date, the S&P 500 has now fallen 20.8% from its October 2007 peak of 1,565.15. In inflation-adjusted terms, the S&P 500 is now 24.1% below its peak. At one point this afternoon, the Dow Jones Industrials was trading as low as 10,977.68, down 251.34 points from yesterday’s close. However, later in the afternoon news that the Fed had indicated that it would grant both Fannie Mae and Freddie Mac access to its discount window briefly triggered a rapid recovery in stock prices. For a brief moment, the Dow Jones Industrials was up 12.05 points and the S&P 500 was higher by 3.88 points. Nevertheless, the reality that the fundamental risks confronting the two GSEs had not changed, along with a near-record closing price of $145.08 per barrel for crude oil, cut off the short-lived rally and stock prices again descended.