-733.08

The Dow dropped today by 733.08 points to close at 8577.91. That’s a loss of 7.87%. By percentage, this was worse than both October 9 (-7.33%) and September 29 (-6.98%). This was the worst day for the Dow since October 26, 1987, and it was the ninth-worst day ever. Three of the 19 worst days have come in the last 13 sessions.
The S&P 500 fell by 9.03% today which was much worse than the Dow. The Dow has outperformed the S&P 500 on all three big plunges. It also performed on October 7, which was only a drop of 5.11%.
The Dow has been steadily outperforming the S&P for nearly three years. In fact, last week the Dow-to-S&P ratio hit a 5-1/2 year high. The ratio hasn’t broken 9.5 yet, but it seems as if it’s about to. The ratio hasn’t been over 10 since 1966.

Posted by on October 15th, 2008 at 9:06 pm


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