Following a large fall at the start of the day, the Dow Jones Industrial Average has recovered by hundreds of points, with it climbing over 250 points again before dropping off to down 100 in just minutes.

After going to down 100, it climbed to 12 up then three down. Following going three down, it kept going up and down between slightly up and below zero.

Following this, the market went to sixty down, before recovering slightly to -36. That market then hovered for a few minutes between -30 and -60, before recovering slightly to -11, they going down to -82 again.

The index fell to its lowest level in five years at 8,579.19, falling 679 points in one day. This, at 7.3%, is the eleventh largest percentage fall in the history of the index. The growth then continued, with the index being up over 150 points on the start of the day at one point.

Peter Cardillo, chief market economist at Avalon Partners, commented on the current financial situation in the US. "What we've seen here was one big margin call that just kept feeding on itself, so the opposite could happen. But you need a catalyst," he said. "I'm more convinced now than ever that this market has made a bottom. The capitulation came when we breached 8,000," he continued. "It doesn't mean we can't go back and revisit that level."

Market data

20:15, 10 October, 2008 (UTC)
  • DJIA
    		•  8.451,19 128,00 1,49%
  • Nasdaq
    		•  1.649,51 4,39 0.27%
  • S&P 500
    		•  899,22 10,70 1,18%
  • S&P TSX
    		•  9.264,57 335,61 3.50%
  • IPC
    		•  19.952,30 357,87 1,76%
  • Merval
    		•  1.215,990 71.340 5,54%
  • Bovespa
    		•  35.615,26 1,474.03 3,97%
  • FTSE 100
    		•  3.932,06 381,74 8,85%
  • DAX
    		•  4.544,31 342,69 7,01%
  • CAC 40
    		•  3.176,49 266,21 7,73%
  • SMI
    		•  5.347,22 451,62 7,79%
  • AEX
    		•  258,05 23,92 8,48%
  • BEL20
    		•  2.123,44 117,44 5,24%
  • MIBTel
    		•  15.438,00 1,081,00 6,54%
  • IBEX 35
    		•  8.997,70 905,20 9,14%
  • All Ordinaries
    		•  3.939,50 351,80 8,20%
  • Nikkei
    		•  8.276,43 881,06 9,62%
  • Hang Seng
    		•  14.796,90 1,146,37 7,19%
  • SSE Composite
    		•  2.000,57 74,01 3,57%


    Sources




    Source & Attribution

    Originally published by Wikinews on October 10, 2008. Original author: Wikinews.

    CC BY 2.5. Photograph: Wall Street, the home of many U.S. stock exchanges
    Image: Urban. Source file. CC BY-SA 3.0. CC BY-SA 3.0.

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