DJIA Crashes Through a Landmark
November 20, 2008
In Intra-day trading, the DOW today sunk below 7777. Below that level, the current bear market became the largest since the second world war, eclipsing a 45.1% drop from 1051.7 on January 11, 1973 to 577.6 on December 6, 1974. That period had embodied part of a deep recession caused by the first OPEC oil price spike as well as the Watergate scandal. The current bear market began at a peak close on October 9, 2007 of 14165. The next key level is at 7197, the low in October 2002 that ended a downward run from 11723 on January 14, 2000.
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