Dow Fell 9.99%, Worst Point Drop in History, More Nibbling?
Dow Fell 9.99%, Worst Point Drop in History, More Nibbling? — Image: On March 12, 2020, the Dow Jones Industrial Average fell 2,353 points, the most in its history, and the most in percentage terms since Black Monday in 1987. The Dow Jones Industrial Average fell 9.99% March 12, 2020, to 21,200.62. — From Value Trap: During the dark days of 2008 and 2009…where widespread and indiscriminate selling was prevalent, correlations among stock sectors rose considerably. According to data from Morningstar, average daily correlation over the trailing six months between individual stocks increased to 0.66 at the end of 2011 from just 0.10 in 1994. The average sector correlation for monthly returns on the S&P 500 index was 0.84 during the Financial Crisis … Read more