The great panic of 2008

Language: 
English

"The continuing financial crisis in the US financial sector led to yet another major panic in the Dow Jones Industrial Average (DJIA) with the -4.40%  collapse on September 15, 2008. This was due to the bankruptcy of Lehman Brothers and the sale of Merrill Lynch to Bank of America. Deals for these moves were arranged on Sunday September 14, which had been called Black Sunday by several market commentators at the time (ref). However, this only proved to be a forerunner of even more severe panics on:
*    September 29 (-6.98%), when the US Congress failed to pass laws ensuring a US$700 billion bailout of indebted companies.
*    October 9 (-7.33%), with the continuing fear in the market.
These trends are assessed in relation to Moon Sun cycles. 

NB: The annual one day (AOD) fall is the biggest % one day fall in the year beginning in March 1. based on closing market levels. Additionally, September 11, 2001 was taken as the OAD fall for 2001, as this represented the maximum panic intensity."

Author: 
David McMinn
Article Link: 
Average: 2 (1 vote)

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