Profile image
By silveristhenew (Reporter)
Contributor profile | More stories
Story Views

Last Hour:
Last 24 Hours:

The Last 3 Times This Happened, The World Was Gripped By Financial Crisis

Wednesday, November 2, 2016 13:02
% of readers think this story is Fact. Add your two cents.

If the S&P 500 ends the day lower today, it will mark seven straight days of declines. This ‘event’ has only occurred three other times in the last 20 years… and each coincided with a major financial crisis…

“It’s different this time”

As Bloomberg reports, the index’s longest-ever run of losses was eight days, matched at the height of the financial crisis in October 2008. The S&P 500 started falling on Monday September 29 and saw lower closes at the end of every trading day until October 10, in what was its worst week in history.

The next was a seven-day losing streak that went from July 25 2011 through to August 2, at the height of the European debt crisis and just before S&P downgraded its rating on U.S. sovereign debt.

The index next seven-day run of losses owed to spillover from the crisis in Europe, as the cost of insuring European government debt surged to a record. Stocks began their slide on November 16 2011 and didn’t move higher until November 28. 

The latest tumble has been blamed on uncertainty surrounding the presidential election in the U.S. that is less than a week away.

So all eyes will be glued to 2,111.72 at today’s close to see if the trend holds. Expect a herculean VIX crush to ensure this does not happen.


We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories



Top Global

Top Alternative



Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.