Top 10 Dow Jones Drops
In the wake of the U.S. House of Representatives' 228-205 rejection of the Bush administration's $700 billion bailout bill, the Dow Jones industrial average plunged 778 points. It was the largest one-day drop in history, though in terms of market percentage lost, it failed to approach the calamitous crashes of 1987, 1929, and 1914.
—Alex Altman & Frances Romero
513 points (6.4%)
Some of the very stocks that lifted Wall Street to stratospheric heights in
the late '90s — like Yahoo! and America Online — sent the markets
spiraling south. Analysts viewed this bearish run as simple market
correction: once in-favor stocks could no longer rise higher, they were
bound to come back to earth. It just happened a little more quickly than
anyone expected, as confidence among investors had fallen due to reports of
a drop in new home sales and business deterioration among domestic
manufacturers.
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