Worst Week Since 2008 Financial Crisis, Dow Jones Sinks Nearly 1,500 Points for Week

Stocks plunged Friday, bringing the Dow ’s losses for the week to nearly 1,500 points making it the worst week since the financial crisis in 2008. The Nasdaq was even worse entering into a bear market and the S&P 500 was on the brink of one itself, down nearly 18 percent from its record earlier this year.

The Dow Jones Industrial Average fell 415 points to finish at 22,445.

Thursday, the Dow dropped 464.06 points to close at 22,859, bringing its two-day declines — which encompassed the market’s reaction to the Fed’s rate hike — to more than 800 points.

This week, the Dow lost 1,655 points, or nearly 7%. The biggest weekly percentage decline since October 2008. The Nasdaq plunged 8.4% on the week, its worst since November 2008. And the S&P 500’s 7.1% loss for the week was the worst since August 2011.

All three indexes are down more than 12% this month. Stocks are on pace for the worst December since the Great Depression,

Oil and stock markets in China, Italy, Germany, Japan and South Korea are all in bear markets.

 

 

 

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