Dow Industrial Average
August 10, 2011 by staff
Dow Industrial Average, The roller coaster continues on Wall Street on Wednesday. Stocks tumbled Monday, pushing the Dow Jones Industrial Average to its biggest drop since 2008 and below 11,000 for first time since October last year. He was also one of the 10 worst point drop in Dow history.
The markets recovered slightly on Tuesday after the Fed announced interest rates will remain near zero. Wednesday, however, the Dow Jones fell back to around 400 points by midmorning.
But the big day so far was Monday when the Dow fell 634.76 points, down 5.55 percent more in the trading session for the first time since Standard & Poor Standard & Poor
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Follow this company downgraded the credit of the federal government under AAA. The index ended the day at 10,809.85.
Note: Click on “View Gallery” above the photo of the newly updated presentation of top 10 biggest point drops one day.
Standard & Poor’s 500 stock indexes dove 80 points, or 6.66 percent, at 1119.46 that day.
The Nasdaq composite index fell 174.72 points, or 6.9 percent, to 2357.69.
Indexed small-cap stocks in the Russell 2000 fell again to 63.67 points, or 8.9 percent, to 650.96.
Indices reached new minimum after President Barack Obama, who spoke to the nation about the S & P downgrade, said it should provide “new sense of urgency” to address the deficit.
S & P Downgrade on Friday the U.S. AAA credit rating, the highest level to AA + was the first time the country’s credit rating has dropped below AAA. S & P said the downgrade was largely the result of the agreement on debt relief reached last week that said he did not take into account the problems of federal spending.
The downgrade followed a sell-off on Thursday when the Dow plunged 513 points in one session. Monday’s drop was the largest, but still not in the Top 5 worst percentage fall in a single day.
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