So, the stock market basically took a bullet to the chest today. The DOW Jones, which is the broadest measure of the stock market, dropped almost 778 points today. This equates out to $1.2 trillion, the first time ever it has gone past $1 trillion. This is also the biggest single day point loss ever.
Essentially, this could be the straw that breaks the camel's back in the economy. With all the comparison of the current economic recession to the Great Depression, things may be coming more and more real. The Great Depression started with the stock market failing, and with the now lowest point drop ever, things aren't looking so good for the future.
I'm no economist, but I can say that things have been better before. I can say this because I've seen it. Growing up during the 90's with Bill Clinton as the president, and growing up during one the greatest periods of economic growth in American history, seeing the economy go into a slump shows that things aren't exactly the best they could be.
Original Article http://money.cnn.com/2008/09/29/markets/markets_newyork/index.htm?eref=rss_topstories
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