What Happens When the Dow Dips Below 10,000?

Posted by: Lauren Young on October 6, 2008

Back in July, John Carter, president of Trade the Markets, predicted that the Dow Jones Industrial Average would dip below 10,000 by year end. Another unscientific Industry Standard poll finds that 85% of respondents think the Dow will go below 10,000 by December. (Even though it has happened, the poll is still open so cast your vote if you like feeling superior.)

Well, today is the day of reckoning. The Dow dropped below 10,000, a level it hasn’t seen in nearly four years. (The Dow first hit 10,000 at the end of March, 1999.)

Is 10,000 merely a psychological threshold, or is this just another nail in the bear market’s coffin?

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Bloomberg Businessweek’s Ben Steverman focuses on the latest moves in financial markets and emerging trends in stocks, bonds, and funds, always with an eye toward giving readers a better understanding of the sometimes confusing and often chaotic world of money. Standard & Poor’s senior index analyst Howard Silverblatt will also provide his take on companies’ finances and the markets. Voted one of the “Top 100 Finance Blogs” in 2007.

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