One year ago today, the world looked and felt like it was coming to an end on Wall Street. The Dow dropped 777 points which was actually a larger point drop than the day the market reopened after the 9/11 attacks.
Bespoke Investment Group does a great job reminding us of what was going on that day:
What everyone thought wouldn’t happen did. At the end of the day, the major averages finished down more than 7%, and the DJIA had its largest point decline in history with a loss of 777 points. Nearly 200 of these points came in the minutes after the close as the crush of last minute sell orders were delayed in hitting the tape.
Also in the post is a pretty concise narrative of each mind-boggling event that led up to this sell-off as well as a graph showing where it ranks percentage-wise against other Dow Jones nosedives throughout history.
Get over there to reminisce about the bad old days.