The Dow Jones Falls Below Where It Was When Trump Took Office

VOX: More than three years of solid market returns evaporated in a few weeks, due to coronavirus.

“Since my election, U.S. stock markets have soared 70 percent,” President Trump bragged at his State of the Union address in February, before claiming that this bull market was “transcending anything anyone believed was possible.”

Those gains are gone.

On January 19, 2017, the day before Trump took office, the Dow Jones Industrial Average closed at 19,804.72. As of this writing, the Dow has dropped below that level, meaning that the rise in stock prices Trump touted so recently — and that he hoped to ride into this November’s election — no longer exists. (Though it is worth noting that ordinary market fluctuations could bring the Dow above the 19,804.72 point mark.) » | Ian Millhiser | Wednesday, March 18, 2020

Stocks Plunge, With Dow Losing 1,000 Points

THE NEW YORK TIMES: PARIS — The global market turmoil continued on Monday, as stocks fell sharply in the United States, Europe and Asia, led by another big sell-off in China. The Dow Jones industrial average dropped more than 1,000 points in the first minutes of trading.

Investors’ concerns over China’s economic slowdown and a souring view of emerging economies have rattled financial markets around the world in recent days, and showed no signs of letting up.

As the stock markets opened in the United States, the Standard & Poor’s 500-stock index and the Dow Jones industrial average plunged more than 5 percent. The Nasdaq was down more than 8 percent.

In China, the benchmark Shanghai composite index closed 8.5 percent lower, erasing all of the gains it had made in an extraordinary run-up this year. And in Europe, stocks fell sharply, with the main indexes down by 4 percent or more in the early afternoon. » | David Jolly and Neil Gough | Monday, August 23, 2015

Starke Kursverluste nach Obamas Wiederwahl
NEUE ZÜRCHER ZEITUNG: Die Erleichterung über die Wiederwahl des amtierenden US-Präsidenten Barack Obama hat an der Schweizer Börse am Mittwoch rasch wieder einer pessimistischeren Einschätzung Platz gemacht. Stark ins Minus sank der Dow Jones.

(Reuters) Nach einem Anstieg auf ein Jahreshoch setzten Gewinnmitnahmen ein und die Börse schloss tiefer. Die von der EU-Kommission gesenkten Wachstumsprognosen sorgten Händlern zufolge für neue Verunsicherung. » | Mittwoch, 07. November 2012

News Hub: Dow Falls 228 Points, Dips Below 12000
Stocks closed with broad, steep losses Thursday after rumblings of unrest in Saudi Arabia compounded economic worries abroad and in the U.S. Jonathan Cheng has details

Dow Slips Below 10,000 ... Again

World Stock Markets Slide into Red
THE INDEPENDENT: Stock markets across the world plunged into the red today as jittery investors sold off stock amid fears over US consumer spending.

A 1.5 per cent slump in London and falls in Japan were followed by a hefty decline on Wall Street, putting a dent in gains that have seen markets recover to levels not recorded since the onset of financial crisis.

The benchmark Dow Jones Industrial Average plunged in early trading, falling 182 points - or 2% - to 9,134.28 by mid morning.
New York opened today on the back of a 3% drop in the Nikkei in Tokyo and amid tumbling stocks in the FTSE 100.

It represented a continuation of the drift downwards which started on Friday as a result of poor consumer confidence figures in the US. >>> Matt Williams and Holly Williams, Press Association | Monday, August 17, 2009

Dow Tumbles on Bank Nationalisation Fears
THE TELEGRAPH: America's leading Dow Jones Industrial Average touched a new bear-market low last night as investor concern that a number of major banks may be nationalised reached fever-pitch and sent banking shares to 17-year-lows.

The Dow Jones index touched a new low for the current bear market following a number of near-misses earlier in the week, closing down 89.68 points – or 1.17pc – at 7,465.95. The closing level was some 87 points below the previous low in the current bear market – of 7552.29 on November 20.

The benchmark index was dragged down on fears over the solvency of a number of major banks, including Citigroup and Bank of America, both of which ended the day 14pc lower. The KBW banking sector index fell to its lowest level in 17 years as a result. >>> By James Quinn, Wall Street Correspondent | Friday, February 20, 2009

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Wall Street dans le rouge
LE FIGARO: La Bourse de New York chute ce vendredi, emportée par un mouvement de panique dans le sillage des marchés asiatiques et européens. Seul réconfort : des reventes de logements anciens qui ont progressé au cours du mois d'août.

Le Dow Jones perd 4,19% à 8327,26 points et le Nasdaq Composite 2,98% à 1156,12 points. Les marchés sont très volatils depuis début octobre et les opérateurs nerveux, eux qui craignent une récession de l'économie mondiale. Et ce ne sont pas les propos guères rassurants d'Alan Greenspan, qui pourraient redonner confiance aux investisseurs. Selon l'ancien président de la Fed, le marché du crédit est en train de vivre «un tsunami comme on en voit un par siècle». La crise aurait été amplifiée par le marché de la titrisation. Alan Greenspan estime qu'une «stabilisation des prix immobiliers aux Etats-Unis» est nécessaire. Cependant, cela pourrait «au minimum prendre plusieurs mois ». >>> T Dong | 24.10.2008

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The Dawning of a New Dark Age (Relié) >>>

Financial Crisis: Dow Jones Drops Below 9,000 for First Time in Five Years
THE TELEGRAPH: The Dow Jones Industrial Average has fallen below 9,000 for the first time since 2003.

Higher borrowing costs and slower consumer spending have left carmakers, insurers and energy companies fearing they will be the next victims of the financial crisis.

The Dow fell 678.91 points, or 7.3 per cent to end at 8,579.19 at the close. It had not fallen below 9,000 since August 6, 2003.

Shares in the United States have now lost 20 per cent of their value in the last week.

A year ago, the Dow closed at a record high above, 14,000. Financial Crisis: Dow Jones Drops Below 9,000 for First Time in Five Years >>> By Chris Irvine | October 9, 2008

LE MONDE:
La Bourse de New York reste en proie à la peur : Un an jour pour jour après son plus haut historique de clôture à plus de 14 000 points, l'indice Dow Jones a fini jeudi sur un repli de 678,91 points, soit 7,33 %, à 8 579,19. L'indice large Standard & Poor's 500 a abandonné 75,02 points (- 7,62%) à 909,92 et le Nasdaq Composite a cédé 95,21 points (- 5,47%) à 1 645,12. >>> LEMONDE.FR Avec Reuters | 09.10.08

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Dow Jones unter 10'000 Punkten - SMI verliert 6 Prozent
TAGESANZEIGER: Finanzkrise und Rezessionsangst treiben den Dow Jones unter 10'000 Punkte auf ein Vierjahrestief. Die Schweizer Börse erlebte einen Schwarzen Montag. Die Finanztitel verloren massiv.

Die Finanzkrise und Rezessionssorgen haben an der Schweizer Börse zu den grössten Kursverlusten seit den Anschlägen vom 11. September 2001 geführt. Beschleunigt wurde die Talfahrt am Nachmittag noch vom Absturz der Kurse an der Wall Street.

Der SMI schloss 6,12 Prozent tiefer auf 6458,72 Punkten. 2001 waren das Börsenbarometer um mehr als sieben Prozent eingebrochen. Der breite SPI sackte 5,84 Prozent auf 5369,22 Zähler ab.

Als einen Auslöser des Kurseinbruchs orteten Händler die jüngste Entwicklung bei der Hypo Real Estate. Für die deutsche Immobilienbank musste über das Wochenende ein zweites Rettungspaket geschnürt werden. Zudem deute die Tatsache, dass verschiedene EU-Staaten für Spareinlagen garantieren wollen, auf den Ernst der Lage hin. Dow Jones unter 10'000 Punkten - SMI verliert 6 Prozent >>> | 6. Oktober 2008

NZZ Online:
Dow Jones reisst Europas Aktienmärkte in den Keller: Miserable Stimmung an der Wall Street >>> ap/sda/Reuters | 6. Oktober 2008

DIE PRESSE:
Österreich: Molterer spricht von voller Garantie für Sparguthaben: Österreichs Finanzminister hat eine hundertprozentige Garantie für Sparguthaben in Aussicht gestellt. "Österreich ist bereit, Limit anzuheben oder aufzuheben", kündigte Molterer an. >>> 6. Oktober 2008

WIENER ZEITUNG:
ATX bricht mehr als acht Prozent ein: Internationale Börsen im freien Fall: Die Weltbörsen haben am Montag ihre jüngste Talfahrt angesichts der Finanzkrise weiter beschleunigt. Der New Yorker Dow Jones rasselte zum ersten Mal seit Oktober 2004 unter die Marke von zehntausend Punkten. In Europa gaben die wichtigsten Börsen mehr als fünf Prozent nach. Der deutsche DAX verlor mehr als 7 Prozent, der Euro-Stoxx-50 rasselte um 7,8 Prozent ins Minus. Besonders kräftig nach unten ging es in Wien. Der Wiener ATX fiel um 8,22 Prozent auf 2.585,13 Punkte und notiert auf dem tiefsten Stand seit Jänner 2005. >>> Von WZ Online | 6. Oktober 2008

The Dawning of a New Dark Age (Taschenbuch) >>>
The Dawning of a New Dark Age (Gebundene Ausgabe) >>>

$US700b Bailout Deal Voted Down
SYDNEY MORNING HERALD: Wall Street's benchmark Dow index has suffered its worst single-day points hit ever after a $860 billion ($US700 billion) financial bailout package failed to pass the US House of Representatives.

The Dow lost about 778 points, or 6.98%, posting its biggest daily percentage decline since the October 1987 stock market crash, while the benchmark S&P 500 also had its worst day in 21 years after the House sent the bailout plan to defeat by a vote of 228 to 205.

The tech-heavy Nasdaq had its worst day since April 2000 when the Internet bubble collapsed.

Market fear was deep and widespread, as investors dumped stocks for the relative safety of US government bonds. The Chicago Board Options Exchange Volatility Index, Wall Street's main barometer of investor fear, jumped 39% to 48.40, a nearly six-year high, and was at 46.72 at the close.



''I am shocked. Credit markets were struggling even with the prospect this bill was going to get passed. Now the bill doesn't get passed and it just throws one more monkey wrench into the mix,'' said Bob Doll, global chief investment officer of equities at BlackRock Inc, one of the world's largest asset managers.



The failure of the bailout bill means the US Treasury now has very limited capacity to bailout firms in the future, and economists are predicting that credit markets will seize up, preventing businesses and people from getting loans for ordinary day-to-day business activities, for college fees, for cars, and for appliances as well as for housing. Consumer and business interest rates are likely to rise sharply. $US700b Bailout Deal Voted Down >>> Anne Davies, Washington | September 30, 2008

SYDNEY MORNING HERALD:
Dollar Hammered as Bailout Voted Down >>> | September 30, 2008

Watch BBC video: Henry Paulson reacts to the failure of the rescue package >>> | September 29, 2008
TIMESONLINE:
US Banking Bailout in Chaos after Shock House of Representatives Vote: The financial system lurched closer to a catastrophic breakdown tonight after the US Congress dramatically rejected a bailout plan designed to restore confidence to paralysed banks.

Wall Street suffered one of its worst days in history. In 24 hours five banks across the West, including Britain’s Bradford & Bingley, had to be rescued to avoid insolvency.

With plans for the biggest rescue of Wall Street since the Great Depression in tatters, the Dow Jones industrial average of shares dived almost 800 points, losing 7 per cent of its value. It was the worst one-day points fall and the worst percentage fall since Black Monday in 1987. >>> | September 30, 2008

THE GUARDIAN:
Panic grips world's markets: Shock as American rescue plan rejected on a day of nationalisations and bail-outs >>> Andrew Clark in New York | September 30, 2008

THE TELEGRAPH:
Asian Shares Fall after US Rejects Bail-out Plan: Asian markets slumped as fears of escalating financial turmoil triggered panic selling after US politicians unexpectedly rejected a financial rescue plan. >>> By Jessica Salter | September 30, 2008

THE TELEGRAPH:
US Economy: $700 billion Wall Street Bail-out Rejected on Meltdown Monday 2: The $700 billion bail-out to save the global financial system from potential collapse has been rejected by US politicians. >>> By Robert Winnett | September 30, 2008

LE FIGARO:
Plongeon historique 
de Wall Street : La Bourse de New York a lourdement chuté, après que les places européennes ont accusé le coup de plusieurs déroutes bancaires.

Le scénario catastrophe se réalise. La Chambre des représentants a rejeté hier le plan Paulson, censé sauver le système bancaire américain de l'implosion. Wall Street, pris par surprise, a très mal réagi. L'indice Dow Jones a connu un plongeon historique (en points). Il a reculé de 6,98 %, le Nasdaq de 9,14 % et le S&P 500 de 8,81 %.

Le plan prévoyait l'octroi au Trésor américain de 700 milliards de dollars pour financer un programme de rachat d'actifs bancaires dévalorisés. Hier matin encore, le président Bush avait imploré les députés américains de surmonter leurs doutes à l'égard de ce plan et de se ranger derrière les leaders des deux partis qui s'y étaient finalement ralliés.

Hier soir, le secrétaire au Trésor, Henry Paulson, visiblement frustré par la fronde des élus, a expliqué qu'il continuerait de « travailler avec les législateurs. L'enjeu est trop important pour que l'on abandonne. Nous cherchons le moyen de faire passer quelque chose le plus vite possible ».

La crainte des autorités américaines est désormais que les marchés de crédit soient paralysés du fait du manque de confiance dans la solidité de banques dont les bilans sont accablés de créances immobilières douteuses. « Les marchés de crédit vont se retrouver encore plus paralysés », estimait à chaud Bill Gross, patron de Pimco, le plus grand fonds obligataire du monde. Un tel scénario perturberait gravement le fonctionnement des systèmes de paiement, provoquerait des faillites de banques et d'entreprises et plongerait vite l'Amérique dans une grave récession. >>> Pierre-Yves Dugua (à Washington) | 30.09.2008

TORONTO STAR:
Capitalism in Limbo as Renegades Kill Bailout: In a stunning rebuke to U.S. President George W. Bush and GOP presidential candidate John McCain, Republicans in the U.S. House of Representatives, joined by many Democrats, yesterday killed a bailout scheme promoted by the administration to rescue a U.S. financial system in paralysis.

Stock markets predictably nose-dived on the news, with Toronto suffering some of the greatest damage.

The S&P/TSX, heavy with energy stocks, was dealt a double whammy, suffering one of its largest one-day declines on record, at 6.9 per cent, on worries about the unresolved world capital crisis and yesterday's $10.52 (U.S.) collapse in oil prices, to $96.37 a barrel.

(Oil is now down 35 per cent from its July peak.)

Bush and McCain put their political capital on the line to gain passage of the Bush-sponsored $700-billion bailout plan, which would have enabled the U.S. Treasury Department to begin purchasing soured, or "toxic," mortgage and other loans from U.S. banks – a move designed to increase their solvency so they can resume business as usual.

Yet, despite exhortations from Bush, who twice has addressed the nation on the urgent need for passage of the rescue package, and from McCain, who stayed in the capital over the weekend making calls to recalcitrant Republican members of Congress to win their reluctant support for the bailout bill, 133 GOP and 95 Democratic members of the House joined to defeat the bill in a 228-205 vote. >>> David Olive | September 30, 2008

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Stocks Surge as US Acts to Shore Up Money Funds and Limits Short Selling
THE NEW YORK TIMES: Stocks shot wildly upward Friday morning after the federal government moved to try to restore confidence in the financial markets.

The Dow Jones industrial average rose more than 400 points only moments after the opening, and later settled at around 300 points higher. The broader Standard & Poor’s 500 was up nearly 3 percent. Markets in Europe and Asia also traded higher.

In a span of about 12 hours, the government took several moves to help restore stability in the markets. The actions began Thursday with discussions between the Treasury, Federal Reserve and Congressional leaders on what could become the biggest bailout in United States history, a plan likely to authorize the government to buy distressed mortgages at deep discounts from banks and other institutions.

On Friday morning, in a move against traders who have sought to profit from the financial crisis by betting against bank shares, the Securities and Exchange Commission issued a temporary ban on short sales of 799 financial stocks, following similar action in Britain on Thursday.

And then the Treasury said that it would guarantee, at least temporarily, money market funds up to an amount of $50 billion in order to ensure their solvency, a startling intervention to shore up an area that had been considered among the safest investments. Stocks Surge as US Acts to Shore Up Money Funds and Limits Short Selling >>> By Graham Bowley | September 19, 2008

THE INDEPENDENT:
Bouncing Back! Record Day for UK Shares >>> By Matt Dickinson, PA | September 19, 2008

LE FIGARO:
Hausse historique à la Bourse de Paris : Au bord du gouffre tout au long de la semaine, le CAC 40 réalise une performance inégalée ce vendredi, clôturant en hausse de 9,27%. >>> Par A Panizzo | 19.09.2008

WELT ONLINE:
Interview zur Finanzkrise: Warum Banken Spielcasinos geworden sind: Joseph Perellas Rat ist gefragt an der Wall Street und in Washington. Oft hat der renommierte Banker davor gewarnt, dass seine Kollegen zu hohe Risiken eingehen. Nun sagt Perella WELT ONLINE: Die Wall Street habe sich von ihren Wurzeln verabschiedet, viele Häuser seien zu Casinos geworden. >>> Von Jörg Eigendorf | 19. September 2008

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Targeting Opportunities in the United Arab Emirates
EMIRATES BUSINESS 24/7: Dow Jones Indexes has opened its first office in the region in Dubai. While the office will promote all the company's indexes, attention is likely to be given to the Dow Jones Islamic Market Indexes, which were launched in 1999. The Dubai office will target investment banks, asset managers, fund managers and exchanges across the region. Sumeet Nihalani, senior director for Asia Pacific and Middle East, spoke to Emirates Business about what Dow Jones Indexes hopes to achieve from its presences in the region and the general outlook for Islamic banking.



Why has Dow Jones Indexes decided now is the time to establish a new presence in the Middle East? 



We have been in the Islamic market and business index for a long time. But we have been growing our business with the licensees in the Middle East. As this business grew, it was important to have somebody in terms of proximity to be able to efficiently and in a timely manner to serve and support potential clients. We have seen a lot of growth in the Middle East – mainly in GCC countries. And we have seen a lot of growth in the Middle East around Islamic index opportunities. It is important to have somebody on the ground to see what are the emerging trends. And to see how we can fit our competence with local knowledge and understanding to the local market place to create more products or different products. 



What are the challenges facing Islamic financial banking? 


I would like to use the word opportunities rather than challenges. I do think there are a number of opportunities. As a lot of banking and financial professionals engage themselves with Islamic finance activities, they are able to create new products and services that can be [useful] across regions. And they can address the different aspects of Islamic finance in insurance, mortgages, etc. Our office has given us a good opportunity to contribute to this and bring our global experience to Dubai and the region in similar services in this market place. Also, the members of our Sharia board who provide Islamic Finance expertise to Dow Jones Indexes and provide the Sharia rules that we apply to our index components are located here.
Targeting Opportunities in UAE >>> By Rami Eljundi | April 29, 2008

The Dawning of a New Dark Age (Paperback - UK)
The Dawning of a New Dark Age (Hardback - UK)

Dow Plunges More than 300 Points on Grim Outlook
NEW YORK TIMES: Stock markets plunged on Thursday as investors confronted a troubling manufacturing report and new indications of the depth of subprime losses and housing woes. The Dow Jones industrial average lost more than 300 points.

The Standard and Poor’s 500-stock index, a broad measure of the financial markets, tumbled below its low for last year, set in March. At the close, it was down 2.9 percent after giving up early morning gains, bringing its decline since Jan. 1 to 9.2 percent.

The Dow Jones industrial average ended down 306.95 points, or 2.5 percent, at 12,159.21, and the technology-heavy Nasdaq composite index was off 2 percent.

A dismal report on manufacturing activity caught investors by surprise on Thursday morning, sending the main indexes into the red after an early stint in positive territory.

The Federal Reserve reported that a survey of Philadelphia-area manufacturers contracted much more than expected. A similar drop in the index occurred in early 2001, just before the onset of the last recession.

“Basically every day now, you have more and more investors leaning toward the camp that yes, this is going to be a recession, and it could be a severe one,” said David Kovacs, a quantitative investment strategist at Turner Investment Partners in Berwyn, Pa.

Recession fears have been roiling the market of late, sending the S.& P. down 8 percent since the beginning of the year. Dow Plunges More Than 300 Points on Grim Outlook >>> By Michael M. Grynbaum

Mark Alexander (Paperback)
Mark Alexander (Hardback)