Dow Jones Industrial Average (DJIA) plunged to its biggest single-day dive ever at 777.68 points yesterday (Sept. 29) after the US Congress disapproved the US$700-billion bail-out package to shore up the financial market. It then closed to 10,365.45 points, its lowest in three years.
The stock index decline easily beats the previous record of 721.56 points posted on Sept. 17, 2001, when the market reopens after the 9/11 World Trade tragedy.
The selling was so intense, according to some traders and stockbrokers, as they have witnessed around 3,073 stocks dropping on the Big Board versus only 162 stocks that rose.
On a related happening, the Dow Jones Wilshire 5000 Composite Index recorded for the first time a paper loss of US$1-trillion across the market for the day.
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