Has the volatility this week provided nightmares and flashbacks of the Fall in 2008? It may not just be your imagination.
This week saw immense point swings, with the Dow posting 2 of its biggest point gains ever (10th biggest on Tuesday and 11th largest on Thursday) and 2 of its worst point declines ever(6th worst on Monday and 9th worst on Wednesday).
The rollercoaster week isn’t unprecedented though. Remember this week’s twin sister? That’s the week of September 15, 2008, the week of Lehman Brothers’ bankruptcy, when the Dow saw 4 point moves of over 350 points.
With all the huge day-to-day gyrations in the markets, the Dow moved little on the week near Friday’s close.
In the week of September 15, 2008, the Dow ended the week down just 0.3 percent after falling more than 8.4 percent at one point during the week. On the other hand, the Dow is down only about 1 percent after it fell as much as 7.3 percent from last Friday’s close at its low of the week.
Here’s a look at the Dow’s cumulative week-to-date point declines compared to the losses the week Lehman Brothers went dark:
Note: the chart only reflects closing values, and does not indicate any intraday swings/moves the market had within each trading session.
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