Monday, March 9, 2009

Market crash now worse than 1929 crash

From Business Insider, quoting the New York Times:
We just hit another milestone. The market has now fallen farther faster than it did during the Great Crash of 1929-1932.

Floyd Norris, NYT:
It has been 513 calendar days since the stock market peaked on Oct. 9, 2007. Since then, the S.&P. 500 is down 56 percent and the Dow is off 53 percent.

On Jan. 29, 1931 — the identical number of days after the 1929 market peak — the S.&P. 500 was down 49 percent and the Dow was down 56 percent. The 1929 crash got off to a much faster start, but we have now more or less caught up.
And in pictures, from (click chart to biggify):

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