David Kirkpatrick

March 5, 2009

Worse than the Crash of 1929

Filed under: Business — Tags: , , , , , — David Kirkpatrick @ 8:32 pm

Sobering numbers indeed.

From the link:

Floyd Norris, NYT:

It has been 513 calendar days since the stock market peaked on Oct. 9, 2007. Since then, the S.&P. 500 is down 56 percent and the Dow is off 53 percent.

On Jan. 29, 1931 — the identical number of days after the 1929 market peak — the S.&P. 500 was down 49 percent and the Dow was down 56 percent. The 1929 crash got off to a much faster start, but we have now more or less caught up.

And here’s a chart by Doug Short at dshort.com that illustrates the point.  In case you’re obsessed, Doug updates the chart every day:

(Hat tip: lfschwartz)