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...Historical Parallels We tend to think of the Depression as having been triggered by the stock-market crash of 1929. The Wall Street crash is conventionally said to have begun on "Black Thursday" - Oct. 24, 1929, when the Dow Jones industrial average declined 2% - though in fact the market had been slipping since early September. On "Black Monday" (Oct. 28), it plunged 13%, the next day a further 12%. Over the next three years, the U.S. stock market declined a staggering 89%, reaching its nadir in July 1932. The index did not regain its 1929 peak until...
...Sept. 29 of this year, as investors and traders reacted to Congress's rejection of the bailout plan presented by Treasury Secretary Hank Paulson, the stock market sell-off was dramatic: the Dow fell nearly 7% that day, a one-day drop that has been matched only 17 times since the index's birth in 1896. From its peak last October, the Dow has fallen more than...
...GOOD A new Campbell's Soup and Kraft Singles marketing campaign is coming soon, with the slogan "Warm hearts without stretching budgets." Campbell's stock rose on Sept. 29 as the Dow Jones dropped 778 points...
After the Sept. 29 House vote, the Administration found a new and much more effective spokesman for its case that Wall Street chaos was bad for everyone: the Dow Jones industrial average. It plunged 778 points, and suddenly calls and e-mails to LaTourette's office that had been running 200 to 1 against the bailout leveled out. He said half the callers were thrilled with his no vote but "the other half are looking at their 401(k)s drop[ping] $50,000 in a day, and they call and scream at me and say, You rat bastard...
Blogger Beverly Biehl, an interior decorator, mother and wife, noted, however, that there is some real concern mingling with the outrage. On the Dallas Morning News site this week, she wrote: "The news lately appears to be written by Chicken Little. 'The Sky is Falling! The Dow is Falling! Our Profits are Falling!' It's enough to make you swear off poultry. However, few things can prepare you for the day when your children ask about the headline 'Worst Financial Crisis Since the Great Depression...