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The Boston Globe

Business

Historic high

After losing 54 percent of its value in the Great Recession of 2007-2009, the Dow Jones Industrial Average has come roaring back. The Dow bottomed out at 6,547 in March 2009 before roaring back in the five-year-old bull market to close Thursday at 17,068.26 -- a 160 percent gain for savvy investors who got in at the bottom.

Timeline

8/17/07: Federal Reserve cuts discount rate half a point to help ease subprime lending crisis

8/23/07: Bank of America invests $2 billion in Countrywide Financial to help shore up the nation's largest mortgage lender

11/1/07: Federal Reserves injects $41 billion into US money markets after cutting interest rates further

11/12/07: Big banks pledge a $75 billion superfund to restore confidence in credit markets

12/12/07: Federal Reserve injects $40 billion into money supply in coordination with other central banks

2/19/08: Crude oil prices top $100 a barrel

6/26/08: Crude oil hits new high of $140 a barrel, gas prices at record highs

9/7/08: Federal government takes over Fannie Mae and Freddie Mac

9/14/08: Merrill Lynch sold to Bank of America

9/15/08: Lehman Brothers files for bankruptcy protetion

9/17/08: Federal Reserve loans $85 billion to American International Group

10/6/08: Federal Reserve makes emergency move to lend $1.3 trillion directly to companies

12/16/08: Federal Reserve cuts federal funds rate to between 0 and 0.25 percent

12/19/08: US auto industry bailout approved

1/20/09: Barack Obama inaugurated as president

2/17/09: President Obama signs $787 billion economic stimulus package

2/27/09: Fourth quarter GDP decreased at an annual rate of 6.2 percent

4/30/09: Chrysler files for bankruptcy; one month later, General Motors files for bankruptcy

1/28/10: US Senate confirms Federal Reserve Chairman Ben Bernanke for a second term.

3/23/10: President Obama signs Affordable Care Act

4/2/10: Massive oil spill in Gulf of Mexico

7/21/10: President Obama signs the Wall Street Reform and Consumer Protection Act

3/11/11: Powerful earthquake and tsunami jolt Japan

5/1/11: Osama bin Laden killed

7/11/11: Debt woes in Europe depress US stocks.

12/15/11: US marks the end of the Iraq war

5/18/12: Facebook has its IPO

6/28/12: US Supreme Court upholds the Affordable Care Act

10/28/12: Superstorm Sandy hits New York/New Jersey area

3/13/13: Cardinals elect Pope Francis to lead the Roman Catholic Church

4/15/13: Bombs set off at Boston Marathon kill 3, injure hundreds

6/26/13: US Supreme Court strikes down parts of the Defense of Marriage Act, allowing states to decide who can marry

10/1/13: Congress shuts down US government for 16 days

11/7/13: Twitter debuts as a public stock, raising $2.1 billion

11/19/13: J.P. Morgan Chase and Co. agrees to a record $13 billion penalty for its role in mortgage crisis.

SOURCE: California Department of Finance

Globe staff

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