Business

Dow’s 10 largest single-day point losses

Specialist Frank Masiello wasis reflected in his screen on the floor of the New York Stock Exchange on Monday.
Richard Drew/AP
Specialist Frank Masiello wasis reflected in his screen on the floor of the New York Stock Exchange on Monday.

As worries over China’s economy continued to roil world markets after two straight days of losses last week, the Dow Jones industrial average plunged nearly 1,000 points in early trading Monday before regaining some of the losses, then tumbling again in late trading.

The huge swings were reminiscent of the Great Recession of 2008, when triple-digit point swings were the norm. Here is a look at the 10 largest single-day point losses in the history of the Dow, including Monday’s 588-point tumble and Friday’s 530-point drop.

1. Sept. 29, 2008

Close: 10,365.45

Net loss: 777.68

Advertisement

Percentage change: -6.98

Get Talking Points in your inbox:
An afternoon recap of the day’s most important business news, delivered weekdays.
Thank you for signing up! Sign up for more newsletters here

The Dow suffered its worst point decline after the House defeated a $700 billion bailout package that was backed by the Bush administration and meant to shore up the nation’s financial system. A revamped plan was approved in a second vote.

2. Oct. 15, 2008

Close: 8,577.91

Net loss: 733.08

Percentage change: –7.87

The Dow logged its second-biggest point decline after investors reacted to news of declining retail sales in September. The loss came two days after the index had its largest point increase ever.

3. Sept. 17, 2001

Advertisement

Close: 8,920.70

Net loss: 684.81

Percentage change: -7.13

Stocks plummeted on the first day of trading after the September 11 terrorist attacks, which closed stock exchanges in New York for four trading days. Investors questioned whether the attacks would drag the United States into a recession.

4. Dec. 1, 2008

Close: 8,149.09

Net loss: 679.95

Percentage change: -7.7

Advertisement

The index dropped after the National Bureau of Economic Research said the US economy has been in recession since December 2007.

5. Oct. 9, 2008

Close: 8,579.19

Net loss: 678.91

Percentage change: -7.33

The Dow plunged in late-day trading, falling below 9,000 for the first time in five years, as investors expressed fear about the credit markets and economy.

6. Aug. 8, 2011

Close: 10,811

Net loss: 634.76

Percentage change: -5.6

US stocks sank the most since December 2008, while Treasuries rallied and gold surged to a record, as Standard Poor’s reduction of the nation’s credit rating spurred concern the economic slowdown would worsen.

7. April 14, 2000

Close: 10,305.78

Net loss: 617.77

Percentage change: -5.66

In the late 1990s, the technology industry rapidly expanded as startups sought to take advantage of opportunities created by the Internet. Investors poured money into new companies with questionable revenue prospects and murky business models. The stock prices of these companies ballooned until early 2000.

8. Aug. 24, 2015

Close: 15,871.28

Net loss: 588.47

Percentage change: -3.58

The Dow experienced a 1,000-point dive in early trading as worries about China's economy continued to hurt global markets. After the initiel drop, the Dow regained much of its losses by midday, only to slide again in afternoon trading to end one of the most jarring days for stock investors since the financial meltdown in 2008..

9. Oct. 27, 1997

Close: 7,161.14

Net loss: 554.26

Percentage change: -7.18

In 1997, the collapse of Thailand’s currency spawned a financial crisis that would engulf Asia and roil markets in the United States and Europe. On October 27, a worldwide stock decline began in Hong Kong and moved west. Stock prices fell so fast that they triggered the New York Stock Exchange’s “circuit breaker” rules, which halt trading during steep drops.

10. Aug. 21, 2015

Close: 16,459.75

Net loss: 530.94

Percentage change: -3.12

US stocks plunged for a second day in a row following sharp declines in Asia and Europe as worries about China roiled markets around the world. The Dow’s decline marked a 10 percent drop from its May peak, making it a market “correction.”