Major indices break through 1997 lows

By Edward Harrison On Feb 23, 2009

The Dow Jones and the S&P 500 both closed at levels not seen in nearly twelve years. Despite a ‘bailout rally’ for the financials in the morning, the day was marked by heavy selling with the Dow down to 714 and the S&P ending the session at 743.

Back in April 1997 when the S&P 500 was last this low, the number #1 song in the U.S. was “Gone Away” by the Offspring. Click the link below to see the full music video on Youtube. I kind of liked 1997.

Edward Harrison 7783 posts 575 comments

Edward Harrison is a senior Editor at Bloomberg. He is also the founder of Credit Writedowns newsletter, a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

Amex: paying cardholders to close accounts

Michael Panzner: Financial Armageddon?

Comments are closed.