Daily Archives: 2008/10/10

Stock Markets Worst Week in History

Wall Street and the Dow lost another 128 points Friday resulting in an 8 day loss by the blue chips of 2,400 points , or 22 % . The stock market had its worst week on record in both point and percentage terms. The S&P 500 index , watched by market professionals , had its worst week since 1933.

Investors suffered a paper loss for the day of about $100 billion. For the week , investors lost $2.4 TRILLION [ $2,400,000,000,000 ] and over the past year , the losses equal $8.4 trillion [ $8,400,000,000,000 ]

Most major central banks around the world slashed interest rates this week after continuing problems in the credit market triggered concerns that banks will run out of money. Trading floors this week are under seige by investors bailing out of investments on fears and panic there is no end in sight to the financial carnage.

Fear has been running rampant all over Wall St. Fear and greed , that’s what rules the Street.

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