The Dow crashed 635 points today.

This is the worst plunge since 2008, and the sixth biggest crash in history:

Largest daily point losses

Rank Date Close Net Change % Change
1 &2008-09-29 10,365.45 −777.68 −6.98
2 &2008-10-15 8,577.91 −733.08 −7.87
3 &2001-09-17 8,920.70 −684.81 −7.13
4 &2008-12-01 8,149.09 −679.95 −7.70
5 &2008-10-09 8,579.19 −678.91 −7.33
6 &2011-08-08 10,809.85 −634.76 −5.55
7 &2000-04-14 10,305.78 −617.77 −5.66
8 &1997-10-27 7,161.14 −554.26 −7.18
9 &2008-10-22 8,519.21 −514.45 −5.69
10 &2011-08-04 11,383.68 −512.76 −4.31
11 &1998-08-31 7,539.06 −512.62 −6.37
12 &2008-10-07 9,447.11 −508.39 −5.11
13 &1987-10-19 1,738.74 −508.00 −22.61
14 &2008-09-15 10,917.51 −504.48 −4.42
15 &2008-11-05 9,139.27 −486.01 −5.05
16 &2008-09-17 10,609.66 −449.36 −4.06
17 &2008-11-20 7,552.29 −444.99 −5.56
18 &2008-11-06 8,695.79 −443.48 −4.85
19 &2001-03-12 10,208.25 −436.37 −4.10
20 &2008-11-19 7,997.28 −427.47 −5.07

Gold – once again ignoring those who say it is in a bubble – rose 68

Category: Markets

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

18 Responses to “Sixth Biggest Stock Market Crash Ever”

  1. T_S says:

    Thanks for the table. I love to see things collected in one place. I would prefer this, however,
    in percentage decline order rather than absolute size. As Krugman would say, that pesky denominator is just
    as important as the numerator.

  2. DeDude says:

    But that is what happens in a bubble – people ignore those who say it is a bubble.

  3. johnhaskell says:

    if the South Korean Central Bank is loading into gold, all I need to know is “where is my checkbook.” Because a central bank could never be wrong about investing in gold.

  4. A7L-B says:

    Agreed.

    12th biggest.

  5. rktbrkr says:

    Forgot how many big selloffs back in 08, remember Maria peeing in her pants on a regular basis as the 3, 3:30 selloffs occurred, lots of big up days too. Remember BRs column here how +300 days are indicators of upcoming selloffs.

  6. rootless says:

    And the funny things is, the higher the stock market goes, the bigger the crashes become in absolute points.

  7. dead hobo says:

    ZH suggests that the Fed might do some panic money dumps soon, meaning possible today. Perhaps they’re that stupid. If so, I got my assets-ready-to-inflate already picked out.

  8. rktbrkr says:

    Korea joins Greece banning all short sales.

    If there is a PPT they could probably get the most bang for the buck by bidding up the futures market, no? Shallowest market, a little buying goes a long way reestablishing investor confidence. That’s IF there is a PPT of course!

  9. Mike in Nola says:

    Just remember that some of the biggest one-day gains have come near the biggest losses and not only because of the rise of the machines. Some of the biggest were during the 1st Great Depression. Check out the other tables in the wikipedia article linked in the main post. I remember reading in histories of 1929 that there were more up than down days.

    @mathman: Sorta like the vid. We will be seeing a lot more of this as the oligarchs impose “shared sacrifice” on the middle and lower classes. Who did I recently see using that term? :) Run-of-the-mill Tea Partiers don’t impress me as being particularly well off, unlike their leaders who manipulate them via talk radio and Fox News. They have no clue how ultimately dependent they are/will be on the government programs that they are so anxious to cut.

    As to gold, I have the same attitude as some others here: like other bubbles, it doesn’t matter if you point it out. Like housing, “$200 dollar oil” of 2008, and the $150 dollar oil of 2011, it will fall when the stars align and there’s a rush to the exits. Exactly when that is, who knows?

    I was looking at puts on GLD the other day, but they were pretty expensive, which shows the level of confidence many of the investors have. Instead picked around the edges with a very few puts of some of the pacific ETF’s since we know that area is decoupled :) Did okay so far.

  10. rktbrkr says:

    London calling…

    Parliament called back from holiday after days of riots in London and other English cities

    London calling to the faraway towns
    Now that war is declared-and battle come down
    London calling to the underworld
    Come out of the cupboard, all you boys and girls

  11. [...] as a repudiation of S&P; but was there any other bit of news that could have triggered the sixth-biggest drop in Wall Street history? There’s some support for Frum’s view from the CNN article in the first link above [...]

  12. Livermore Shimervore says:

    needs another column…how many trading days were needed to get back (and hold off) the loss. The drop is meaningless without an indicator of how resilient the ammunition.

  13. ancientone says:

    You really do need to use percentage loss when comparing big down days; yesterday’s sixth largest point loss was nowhere near historic proportion in percentage terms.

  14. Suvikas says:

    Well, the Big Picture problem is reflected by the data – #6 and #7. So similar, even though 11 YEARS apart ! That is what we should be concerned about (much more concerned than a 5.55% fall). 11 Years of the Dow going nowhere.

    And here we are, again, 11 years later, fretting about a 600 point fall.

    And if anyone says 2000 was a total ‘Bull’, look at #19 – 2001. Not very different either.

  15. Suvikas says:

    Well, the Big Picture problem is reflected by the data – #6 and #7. So similar, even though 11 YEARS apart ! That is what we should be concerned about (much more concerned than a 5.55% fall). 11 Years of the Dow going nowhere.

    And here we are, again, 11 years later, fretting about a 600 point fall.

    And if anyone says 2000 was a total ‘Bull’, look at #19 – 2001. Not very different either.

  16. garet1223 says:

    Misleading. These should have been ranked by percentages, not points. ’87 was by far the biggest.

    ~~~

    BR: True !

  17. anti-thax says:

    I would rather see the data arranged by percentage .