Top Ten DOW Jones Drops

the top ten greatest single-day drops in the DOW Jones. September 29, 2008 marked the largest single-day drop in history as the DOW plunged 778 points (7%). The same day, the U.S. House of Representatives rejected the Bush administrations $700 billion bailout bill. The recent drops have stoked fears that the U.S. economy is on the verge of a recession, if not already deeply sunk in one. But if we take a look back into history, in terms of market percentage loss we haven't even come close to the catastrophic stock market crashes of 1987, 1929, and 1914.

Below is a brief account of the events that took place on the days of the top ten drops:
September 29, 2008: U.S. House of Representatives fails to pass the Bush Administration's $700 billion bailout plan.
September 17, 2001: Following the worst terrorist attack in U.S. history on 9/11, the market plummeted after the ASE and NYSE had been shut down for almost a week.
April 14, 2000: Investors lose 2 trillion dollars in a week. Core consumer prices rise 0.4% and investors ditch technology stocks.
October 27, 1997: The "mini-crash." Hong Kong Hand Seng Index falls 6% and the DOW has to close 30 minutes early.
September 31, 1998: Market corrects itself, stocks that skyrocketed (like Yahoo! and AOL) come back down.
October 19, 1987: Black Monday, the Dow loses more than one-fifth of its total value.
September 15, 2008: Lehman Brothers files for bankruptcy. Bank of America buys Merrill Lynch.
September 18, 2008: Government bails out AIG for $85 billion, unease among traders.
March 12, 2001: tech bubble pops and stocks tumble, in addition to weak earning reports and a faltering economy.
Febuary 27, 2007: Slumping Chinese stocks, fears over domestic markets, and a Taliban assassination attempt on VP Dick Cheney.
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