- Thomson Reuters
- Stocks tumbled on Monday.
- The Dow fell 1,175.21 points, the largest one-day point drop in history.
- Previous large one-day drops include several days during the financial crisis, and the first trading day after the September 11, 2001 terror attacks.
The stock market took a tumble Monday afternoon, with the Dow Jones industrial average briefly dropping over 1,500 points.
The Dow closed down 1,175.21 points, the biggest single-day point drop in the index’s history.
The previous holder of that dubious honor was September 29, 2008, when the Dow dropped 777.68 points after the first version of the TARP bailout program failed in Congress. The 2008 financial crisis also featured three of the other five biggest drops prior to Monday’s trading. The fourth biggest drop came on September 17, 2001, the first day of trading after the 9/11 terror attacks.
The drop extends losses from last Friday, when the index fell 665.75 points, the seventh largest one-day drop ever.
It’s worth noting that these are point drops and not percentage drops. As the Dow has gotten steadily higher over the last several decades, larger point drops translate into smaller percentage drops. Monday saw a 4.6% decline, which while far more tumultuous than we’ve seen in some time, pales in comparison to the 22.6% decline in the Dow on Black Monday in 1987 or the 12.8% drop in the 1929 stock crash.
Here are the 10 biggest one-day point drops in the Dow’s history.