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September 29, 2008
778 Points!
The DOW dropped 778 points today, it's largest point drop in a single day ever:
NEW YORK - Wall Street ended a stunning session with a huge loss Monday, with the Dow Jones industrial average plunging 778 points — its largest point drop ever — after the failure of a House vote on the financial bailout plan.Wall Street started tumbling as the vote was shown on television Monday afternoon, sending investors fleeing to the relative safety of credit markets, worrying that the financial system would continue to sink under the weight of failed mortgage debt.
This is not good folks. Perhaps those who are still desperately clinging to the notion that the economy is fine will see just how bad off it truly is. This has taken eight long, tortuous years under Bush's leadership (or lack there of) to get to this point. There is not overnight fix for this and sadly the road is most likely going to get a lot more bumpy before this is all over.
Posted by Dianne at September 29, 2008 5:11 PM
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