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Dow Braces for One-Day 1,000 Drop, as Markets Plunge

A 1,000-point drop in the Dow Jones Industrial Average (DJIA) may appear like a great deal but, based on historical standards, it is not much. Japan's Nikkei has sold off 14% so far this year, and 4% in a day. The sell-off in equity markets has accelerated. A thousand points off the DJIA would be only 6.5%. And the outside forces that pressure markets up and down are pushing them relentlessly down for the time being.

The DJIA has a tradition of plunging on bad news. It sold off 7.9% on October 15, 2008, a single day during the financial crisis in 2008. More than once during that panic, it dropped more than 7%. Nearly as recently, on October 19, 1987, the DJIA dropped 22.6%. The cause was not extraordinary. The economy was in recession and investors rushed for the exits once it became clear that day's trading would be terrible.


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More Correction! More Correction! More Correction! Please?

My only strategy in day trading is knowing the "code". And that code is 'Buying and Selling' pressure. Period. With that information, I just get onboard and go along for the ride. Today's action grossed 60 points in the S&P emini. For $3,000 per contract gross profit. I don't know ANYBODY who pulls 60 points out of the S&P! NOBODY.
To enlarge, right click on chart. Left click on 'view image'. Then just click the magnifying glass.

The whole world is in the midst of a correction...


... or crash.

Bump. Thanks for posting.

The Diamond Dog is a real cool cat. | Reporting on the world from an altitude of 420.

Cyril's picture

Heya Janet! Whazzup?! 'Ya sure ya wanna continue "tapering"?

Heya Janet! Whazzup?! 'Ya sure ya wanna continue "tapering"?



"Cyril" pronounced "see real". I code stuff.


"To study and not think is a waste. To think and not study is dangerous." -- Confucius