Crash Of 2008 Now Worse Than Crash Of 1929
Thu, Mar 5th, 2009
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.
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