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Stocks worldwide extended their slide even after Central Banks around the world coordinated emergency rate cuts earlier in the week in an effort to help unfreeze the credit markets, and soothe the financial sector. The Dow had its worst week ever in terms of points as well as percent drops, losing 1874 points or down 18.15%.
Dow Worst Week Ever:
-The second biggest weekly percentage drop was the week ending July 21, 1933 when the Dow closed down -15.55% for the week
-The third biggest weekly drop for the Dow on a percentage basis was the week ending Friday, 9/21/01 after 9/11 when the Dow fell 14.26% for the week
*There has never been a point drop in a week of greater than 1,600 points back to the Dow's inception in 1896
-The Dow is now down 40.67% off its market peak on October 9, 2007 of 14,164.53
On Friday, the Dow swung 1,018.77 points from high to low for the first time in its history
In market cap, the Dow lost $26.7B in market cap on Friday, and a two-day loss of $263.7B in market cap
S&P 500 2nd Worst Week Ever:
The S&P ended the week down 200.01 points and -18.19% for the week making it the second worst drop ever (data back to 1928):
-The biggest percent drop for the S&P was the week ending July 21, 1933 when the S&P dropped -18.57%
-The third biggest percent drop was the week ending May 17, 1940 when the S&P fell -15.39%
4th Biggest S&P drop was September 16, 1932 when the S&P fell -13.49%
-The S&P is now down almost 42.27% from its peak of 1565.15 on October 9, 2007
NASDAQ 4th Worst Week Ever:
The NASDAQ Composite is down 297.88 points and -15.30% for the week (Data back to 1971) -The NASDAQ closed slightly positive for the day on Friday
-The worst drop for the NASDAQ was the week ending April 14, 2000 when it dropped 25.31%
-The second worst drop was the week ending October 23, 1987 when the NASDAQ fell 19.17%
-The third worst drop was the week ending September 21, 2001 when the NASDAQ fell -16.06%
-The NASDAQ is now down almost 41.44% from its peak of 2859.12 hit on October 31, 2007
The VIX hit a high of 76.94 on Friday, hitting levels not seen since October, 1987
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All Sectors are negative for the week led be Energy down over 25% for the week, and with Industrials the least negative at -11.49% for the week
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Oil settles below $80 per barrel at $77.70 to almost 13-month lows falling over 17% this week, but oil has traded back above $80 per barrel in the electronic session
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The US dollar hits 14-month highs against the euro, and regains some of its losses against the yen
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Data is a real-time snapshot *Data is delayed at least 15 minutes