AGB 310 Lec Crash

AGB 310 Lec Crash - 2-1 Financial Crash of 2008 CY2008...

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Ehrhardt Chapter 8 Page 1 2-1 Financial Crash of 2008 CY2008 – Third Worst for DJIA ( 34.7%) #1 – 1931 ( 52.7%); #2 – 1907 ( 37.7%) Investors in US Lost $9 Trillion from November 2007 to November 2008; DJIA down 40% from 14164 November 6 – DJIA Fell 929 points in two days largest two-day point drop since 1987 October 15 – DJIA Fell 7.9% (733 points; $1 trillion) largest percentage drop since 1987 October 9 – DJIA fell 680 points ( 7.3%) $872 billion lost down 20% in seven days ($2.5 trillion loss) 2-2 Financial Crash of 2008 September 29 – DJIA Fell 777 points ( 7%) Largest day loss in history ($1.2 trillion loss) DJIA Two Weeks Previous (September 15 to 19) lost 812 points in 3 days; gained 778 in 2 days $1 trillion lost; $1 trillion gained Compare to Crash of 1987 (October 16) DJIA lost 508 points ( 22%); 43% in 7 days no bailout in 1987 February 2009 – Markets 50% off 1997 Peak
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Ehrhardt Chapter 8 Page 2 2-3 Recession of 2007 to 2009(?) Longest in History (21 months) US Unemployment at 9.7% (August 2009) Highest rate since end of 1982 (10.8%) 15m out of work; 9.0m part-time work 6.9m lost jobs since December 2007 2.2m quit looking; 19.5m unemployed or
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AGB 310 Lec Crash - 2-1 Financial Crash of 2008 CY2008...

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