Random Analytica: Dow Jones Industrial Average closes up 567-points (+2.3%)
by Shane Granger
A lot of talk yesterday about the big losses experienced on Wall Street with the Dow Jones down 1,175-points, the first time that index has declined by more than 1,000-points in a single day.
Crash, tumble and wipe-out were utilised frequently across news channels and social media. The #TrumpSlump hashtag was overutilised by many who really don’t understand markets.
In relative terms yesterday’s Dow Jones numbers were not the worst day of historical trading although they did break the previous point’s loss record. In fact, it didn’t even rate in the top 100 of trading day points losses. My thoughts are here along with a couple of charts.
Today the conversation is all about volatility as the Dow Jones returned almost half of yesterday’s losses.
In fact, the Dow Jones Industrial Average had its 4th best day on record (in terms of points gained). Here is the updated top 20 chart.
To get within ‘coo-wee’ of needing to update the Biggest One-Day % Gains chart we would need a +7% increase which would equate to an approximate 1,750-point gain in a single day.
With volatility returning to the markets we might get more updates to this chart in coming weeks.