Though the market on September 29th 2008 Crashed it only fell 777.68 points. Until 2018 that was the largest point loss ever until 2018. It crashed because Congress rejected the bank bailout bill. On October 9th 2007, the dow hit it's pre-recession high and closed at 14,164.43. By March 5th 2009 it had dropped to 6,594.44.
I find it kind of eerie to be repeating in some ways what happened then. I can remember quite well how scared my wife and I were then as we walked into a meeting with our financial advisors in the fall of 2008. My wife's father had just passed away that summer and my mother passed away a month later and my favorite aunt had passed away in June and one of my favorite female cousins passed away that fall too. So, on top of the crash we were dealing with a lot of grief too. So, as our financial advisors gathered in a meeting room my wife and I were sort of shell shocked by all the changes. Luckily, my wife has a master's degree in Business and by listening to advisors and her business background and my background as a business owner and contractor over the years just by asking logical questions of what we could do saved us in the long run. So, at least we weren't road kill like most middle Class people were then in the U.S. Instead we were able to make logical sensible decisions, leave our money in the stock market and ride it up into the 20,000 plus range like right now.
In times like these you have to be very very level headed because for many people it is just too easy to panic and make bad decisions. So, you need to find a way to stay calm enough and then gather people you trust around you before making any decisions at all.
Getting enough actual facts (not made up ones) is important so you don't go off half cocked without enough information.
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The stock market crash of 2008 occurred on September 29, 2008. The Dow Jones Industrial Average fell 777.68 points in intra-day trading. Until 2018, it was the largest point drop in history. It plummeted because Congress rejected the bank bailout bill.
Jump to Crash of 2008–2009 - The economic crisis caused countries to close their markets temporarily. On October 8, the Indonesian stock market halted trading, after a 10% drop in one day. The Times of London reported that the meltdown was being called the Crash of 2008, and older traders were comparing it with Black Monday in 1987.
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