DJIA Jumps 936 points After World Leaders Agrees To Cooperates

Posted by Kris | Tuesday, October 14, 2008 | | 0 comments »

Over the weekend, the US and the world meet together and decided to cooperate with each other to lessen the impact of the global financial crisis. As a result, on 13 October 2008, DJIA had a historical rally as much as ~936 points!!

October 2008 brought a rapid acceleration of the bear market, as the DJIA plowed back below the 10,000 level, lost more than 20% in the first seven trading days of the month alone, and set multiple volatility records. A record 800-point intraday tumble occurred on October 6. Although the Dow lost only 128 points on October 10, its intraday range spanned more than 1,000 points for the first time in history. On "Manic Monday", October 13, the Dow rebounded 936.42 points to nearly double the largest daily point gain in history and record the first gain of more than 10% since 1933, during the Great Depression. The Dow Jones closed up 11.4%, to 9,387.61, its biggest single day rise since 1939, ending the 8-session losing streak (erasing previous week's 18% loss). Its biggest single-day gain in 75 years, the 11.6% gain in the broad Standard & Poor’s 500-stock index was that gauge’s best single-day gain since 1939. Dow had risen more percentage points in a day, only 4 times - in 1929, 1931, 1932, and 1933.However, the Dow remained 34% below the all-time previous week closing high of 14,164.53, amid Nikkei index's record 14.15% soar to 1,171.14 points, to close at 9,447.57, its biggest single-day point gain in history, after nearly 10% plummet Friday. The Dow Jones industrial average's 936 points soar is the biggest one-day point gain in its 112-year history.