20081776 Club
The Dow sheds 733 points; only Black Monday fell faster
A 7.87 percent close puts the 2008 financial crisis in the same sentence as 1987.
A month after Lehman Brothers collapsed, Wall Street still had no floor. On October 15, 2008, the Dow Jones Industrial Average closed down 733.08 points, a 7.87 percent drop that ranked as the second-worst single-day percentage decline in the index's history, trailing only the 22.6 percent collapse of Black Monday in 1987. Banks were failing, credit markets had frozen, and the federal bailout passed weeks earlier had not stopped the bleeding…
