Major indices break through 1997 lows

| 23 February 2009 20:14

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.

sp-1997-2009

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.

gone-away-the-offspring

avatar About Edward Harrison

Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty years of business experience. He is also a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. He speaks six languages, a skill 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.

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