The Dow Jones industrial average and the Standard & Poor’s 500 index have finished their fifth straight week of losses. For the Dow, it’s the longest losing stretch since July 2004. the S&P hasn’t had it this bad since mid-2008.
The stock market fell 2.3% during the Memorial Day-shortened week following weaker-than-expected job growth in the U.S. and continued concerns over Greece. Treasury yields fell and the dollar index declined.
History of recents Dow drops …
The largest one-day percentage drop occurred on Black Monday; October 19, 1987, when the average fell 22.61%.
The third largest one-day point drop in DJIA history (-684.81 points, or -7.1%) occurred on September 17, 2001, which was the first day of trading after the September 11, 2001 attacks. The Dow fell 684.81 points, or 7.1%.
The Dow had been in a downward trend for virtually all of 2001 prior to Sept 11, losing well over 1000 points between January 2, 2001 and September 10, 2001.
On February 27, 2007, the Dow Jones Industrial Average fell 3.3% (415.30 points), its biggest point drop since 2001.
On October 9, 2007, the Dow Jones Industrial Average closed at the record level of 14,164.53. On October 11, the Dow traded at its highest intra-day level to date, at the 14,198.10 mark.
In 2009, during two months of extreme volatility, the Dow experienced its largest one day point loss, its largest daily point gain, and its largest intra-day range (more than 1,000 points). The index closed at a new twelve-year low of 6,547.05 on March 9, 2009 (after an intra-day low of 6,469.95 on March 6, 2009).
After rising the latter half of 2009, the Dow closed at the 10,785.89 level on March 22, 2010, but dropped 998.50 points on May 6, 2010 — the biggest intra-day drop to date.