Dow Marks One Year Anniversary of Largest Loss

Ad Feedback

Tuesday marks a sobering anniversary for the U.S. economy as the Dow suffered the biggest loss of its 113-year history one year ago.

The record 777 point drop forced the government to spend more than a trillion dollars to stabilize the markets.

Some banks have been able to pay back their bailout money and even report profits.

However, the Dow has still not returned to where it was.

Some economists say we're only beginning to see signs of recovery from the worst U.S. economic upheaval since the Great Depression.

"The accumulated moves of the treasury and the Fed over time did play a significant role in stabilizing the financial system," said Barclays Capital's Dean Maki. "The job market is still in the process of losing jobs, but it is losing them at less rapid pace."

Last month, more than 216,000 Americans lost their jobs.

Log in or create an account to post a comment.  

CBN IS HERE FOR YOU!

Are you seeking answers in life? Are you hurting? Are you facing a difficult situation?

Find peace with God, discover more about God or send us your prayer request.

Call The 700 Club Prayer Center at 1 (800) 823-6053, 24 hours a day.

A caring friend will be there to pray with you in your time of need.

CBNNews.com

CBNNews.com

CBN News is a national/international, nonprofit news organization that provides programming by cable, satellite, and the Internet, 24-hours a day. Follow us on Facebook, Twitter, and Google+.