Saturday, October 11, 2008

Worst 12 Months Ever

click to enlarge chart

This marks the one-year anniversary of the current correction. The Dow put in its record high of 14,164.53 back on October 9, 2007. This week, the Dow closed at 8,579.19 -- down 39.4% from its one year old peak. For some perspective on the magnitude of the current decline, the chart illustrates how the Dow performed during the first year of all major corrections since 1900. As the chart illustrates, the first year of the current correction has been more severe than the first year of any correction since 1900 -- and that includes the correction that began in 1929.

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