Monday, September 29, 2008

Black Monday: Dow/TSX Shed Worst Point Drop in History

The Dow dropped nearly 778 points - the worst single-day point loss in history. The massive drop came along with news that the US government rejected a $700 billion bank bailout plan.

Canadian markets experienced dramatic falls too, with its TSX falling by a record 840.93 points. The price of oil fell to $95 US a barrel. In Canada alone an estimated 100 billion dollars was lost today.

European markets suffered losses as well amid concerns that the credit crisis was seeping into their financial systems, with total losses ranging from 3%-5%.

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