Major indices break through 1997 lows
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.
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.