Historians R Us

This blog is the property of the AP US History class at Pope John XXIII High School in Everett, MA, USA. Here students explore current events in America, while seeking to understand the historical roots of those events. At the same time, students are able to carry on classroom discussions in the cyber world.

Wednesday, June 07, 2006

Another stock market crash?! just kidding!

Stocks dropped Wednesday, extending investors' losses for the third straight session and pushing the Dow Jones industrial average below 11,000 for the first time since March 9. The Dow has lost more than 316 points this week; the selloff has also wiped out the Nasdaq composite index's gains for the year and put the Standard & Poor's 500 index less than 8 points away from its Dec. 31 close. Traders were unsure if the drop brought good buying opportunity or if it was foreshadowing for worse days ahead. The Dow Jones industrial average fell 71.24, or 0.65 percent, to 10,930.90. Broader stock indicators also fell. The Standard & Poor's 500 index fell 7.70, or 0.61 percent, to 1,256.15, and the Nasdaq composite index fell 10.98, or 0.51 percent, to 2,151.80.

This article can be mildly compared to the Stock Market Crash of 1929. It started on Octover 24, Black Thursday, and continued through October 29, 1929, Black Tuesday, when share prices on the New York Stock Exchange collapsed. However, the days leading up to the 29th had also seen enormous stock-market upheaval, with panic selling and vast levels of trading interspersed with brief periods of recovery.

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