2009 was a 17-month bear market that lasted from October 9th 2007 to March 9th 2009, during the financial crisis of 2007-2009. 30 large companies on the New York Stock Exchange, peaked on October 9, trading azionario forex market with a closing price of 14,164. On October 11, 2007, the DJIA hit an intra-day peak of 14,198. 2008 was in tandem with other stock markets across the globe.
On September 29, 2008, the DJIA had a record-breaking drop of 777. 68 with a close at 10,365. The DJIA hit a market low of 6,443. The day the bear market declared.
Values represent percent change from previous date listed in table. During the bear market a heavy debate ensued as to whose fault the falling market was. The political parties were heavily divided during this period. In February 2007, a coming recession and bear market was predicted by Paul Lamont due to a growing debt bubble, the housing bubble and lack of car sales. High oil prices have impacted global economic growth, causing the Dow’s 12th bear market since 1962 and the first since 2002 according to The Washington Post. Tom Petruno of the LA Times points out that “the U.
14 trillion, powered by 300 million people and engaged in complex global commerce is nuts — whether that person is Bush, Obama, Alan Greenspan, Bernard Madoff, Osama bin Laden or the editors of opinions at The Wall Street Journal. Former United States Secretary of Labor Robert Reich said the fall in stock prices since Obama’s inauguration was caused by the policies of former President George W. Justin Fox of Time magazine pointed to eight major economic mistakes George W. In March 2009 White House budget director Peter Orszag said, “Job losses began in January 2008. The stock market started declining October 2007.
This has been, you know, eight years in the making, and again, it’s going to take some time to work our way out of it. President Obama on March 3, 2009 said “What you’re now seeing is profit-and-earning ratios are starting to get to the point where buying stocks is a potentially good deal if you’ve got a long-term perspective on it,” probably meaning price-earnings ratio. E levels despite first quarter strong earnings. The DJIA hit a low on March 6, 2009 of 6,469. On March 6, a regulatory report indicated that the 5 biggest banks still have large risk exposure due to derivatives that could fail. On Tuesday, March 10, Vikram Pandit the CEO of Citibank, said that his bank has been profitable the first two months of 2009 and was currently enjoying its best quarterly performance since 2007.
50 billion in 2009 pre-tax revenue”. Already rising for two weeks, following the Geithner announcement the DJIA had its fifth-biggest one-day point gain in history. Yields dropped during this time period, part of a long-term bull market. High-grade corporate bonds and muni bonds also performed well. However, high-yield bonds had very bad performance, although they turned up coincident with the bull market in stocks. The Nikkei 225 average went from 18,262 on July 9, 2007 to 7,055 on March 10, 2009. Elizabeth Stanton Dow Average’s Drop Into Bear Market May Signal Losses July 3, 2008.
Bears Are Wary as Bull Returns”. Laurie Kellman: Whose economy is it anyway? Tom Petruno Obama bad for stocks? Robert Reich:Is Obama responsible for Wall Street’s meltdown? Archived from the original on October 12, 2008.