Personal Finance Market Crash

Posted by Madison on May 10, 2010

Last Thursday’s market crash will be another one for the history books. To say the markets took a wild swing on May 6, 2010 is a bit of an understatement.

Here are interesting pieces of the puzzle as well as some fun videos from real time on Thursday.

In case you missed the crash, here’s a glimpse into what happened on Thursday afternoon:

Temporarily, $1 trillion in market value disappeared, according to the Wall Street Journal.

A fun video during the crash on Thursday. It gets entertaining about a minute in.

If you’ve been wondering about the differences between index funds and ETFs, here’s a big difference:

VTI VGTSX

It was the biggest one-day point decline (998.5 points) on an intraday basis in Dow Jones Industrial Average history per CNN.

During the crash, I was locked out of our Schwab account, as were many investors at various brokers. It sounds like Scottrade help up perfectly according to a Fatwallet discussion.

The stocks of eight major companies in the S&P 500 fell to one cent per share for a short time, according to Wikipedia.

For comparison, Black Monday on October 19, 1987, the Dow Jones dropped by 508 points (22.61%).

296 stocks’ trades were canceled. 3 days later, 12 more were added to the canceled list.

Another fun video during the crash. Watch his reaction to the price of P&G during the crash.

The cause of the crash still remains unexplained. Although there are lots of theories….




You can get my latest articles full of valuable tips and other information delivered directly to your email for free simply by entering your email address below. Your address will never be sold or used for spam and you can unsubscribe at any time.

Email:

Comments to Personal Finance Market Crash

  1. That is a VERY interesting chart of mutual fund vs ETF!

    Thanks for hosting!

    Craig/FFB

  2. yeah, that dip was CRAZY….but crazy good if you invested at the exact time 😉

    Thanks for hosting!

    J. Money

  3. Nice job, Madison!

    Thanks for hosting, and for including our post.

    hgstern

  4. WOW! We are at the top of the Editor’s Picks. That made our day :).

    Thanks for hosting the carnival.Best wishes ahead :).
    Cheers,
    FIRE Finance

    FIRE Finance

  5. Thanks for including my post Madison.

    This is a great carnival theme.

    Hope to Prosper

  6. Great variety of articles. Thanks for putting this together and including me!

    Darren

  7. A fun carnival so thanks for the picks. I particularly enjoyed the youtube clips. The bad thing about this is non-investors will think the market is always this crazy -I hope it doesn’t put people off investing for the long term.

    Adam@Magical Penny

  8. Thanks for posting all these great resources!

    Jenna

  9. Yeah it was a crazy ride last Thursday. A fun theme for the carnival. Thanks a lot for hosting, and for including my post.

    Suba

  10. Great carnival! I love the theme. If this doesn’t warn individuals that investing money is only for long term goals, I don’t know what will!
    Thank you for including me as an editor’s pick!! Best regards, Barb

    Barb Friedberg

  11. Thanks for hosting the carnival and including my article!

    Sun

  12. Thanks for hosting and good picks. I especially liked Jeff’s post on 30 yr vs 15 yr mortgage (even if its pretty basic) and TFB’s post on why he sold another one of his blog, always interesting to read the thought process people take to come to a decision.

    Cap

  13. Nice job hosting and thanks for picking my article. 😀

    Brad Chaffee

  14. Nice job Kate, thanks for squeezing mine in under the wire : )

    Ben

  15. Great theme. Thanks for including my post.

    Helen

  16. Haha. I haven’t forgotten that market crash not too long ago. Buy-hold-prayers all probably had a heart attack that night!

    Brilliant theme to host a blog carnival around it. You got my kudos there. ^_^

    Aury (Thunderdrake)

Leave a Reply

Your email address will not be published. Required fields are marked *



Previous article: «
Next article: »