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Major Indices Set Record Losses

The Dow Jones Industrial Average has tumbled 2,272 points in the last seven trading sessions. Ironically, today marks the one year anniversary of the market peak for the Dow and S&P 500. Here is where the markets stand during this historic times:

Dow Closes Below 9,000:
-At the current close of 8579, it is down 678.91, -7.33%, its lowest point of the day
-The last time the Dow closed below 9,000 was June 30, 2003, when it closed at 8985.44
-The Dow is now down 39% off its market peak on October 9, 2007 of 14,164.53
-The Dow has lost 1,746.19 points this week since Friday's close of 10,325.87 and with one day to go in the week, it is currently the biggest point drop in one week ever
-There has never been a point drop in a week greater than 1,600 points, dating back to the Dow's inception in 1896
-The Dow is down 16.91% week-to-date, on track for its biggest weekly percentage drop ever
*The next biggest weekly percentage drop was the week ending July 21, 1933 when the Dow closed down -15.55% for the week
*The next 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

S&P 500 Closes Below 940:
-The last time the S&P closed below 940 was May 23, 2003, when it closed at 933.22
-The S&P is now down almost 42% from its peak of 1565.15 on October 9, 2007
-The S&P has lost almost 189.31 points this week and 17.22% since Friday's close of 1099.23

NASDAQ Closes Below 1,700:
-The last time the NASDAQ closed below 1,700 was August 13, 2003, when it closed at 1686.61
-The NASDAQ is now down almost 42% from its peak of 2859.12 hit on October 31, 2007
-The NASDAQ has lost over 302.27 points this week and 15.52% since Friday's close of 1947.39

Russell 2000 Below 515:
The last time the Russell 2000 closed below 515 was October 24, 2003, when it closed at 506.43

VIX above 60:
-Today, the VIX closed at 63.92, up 11.11%
-The last time the CBOE volatility index closed above 60 was October 30, 1987, when it closed at 61.41

Some of the biggest losers in the S&P 500 for the day include XL Capital (XL), Lincoln National (LNC), General Motors (GM), Unum Group (UNM), and CIT Group (CIT).

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