Global financial crisis in 2009
On the evening of January 18, the
The two-month period from January 1-February 27 represented the worst start to a year in the history of the S&P 500 with a drop in value of 18.62%. By March 2, the Dow Jones Industrial Average Index had dropped more than 50% from its October 2007 peak.[3] The decline has been compared to that of the 1929 Great Depression, which was 53% between September 1929 and March 1931.[4]
On March 6, the Bank of England announced up to 150 billion pounds of quantitative easing, increasing the risk of inflation.[5]
In March 2009,
By March 9, 2009, the Dow had fallen to 6,500, a percentage decline exceeding the pace of the market's fall during the
On June 22 the World Bank projected that the global production for 2009 would fall by 2.9%, the first decline since the second world war.[7]
See also
- Global financial crisis in September 2008
- Global financial crisis in October 2008
- Global financial crisis in November 2008
- Global financial crisis in December 2008
- Subprime crisis impact timeline
- Timeline of the United States housing bubblefor the pre-subprime crisis timeline
References
- ^ "Denmark agrees on 13.4-bln-euro line of credit to banks: govt". France 24. 2009. Retrieved 2009-01-19.
- ^ "Obama's First Crisis: Dud Banks", The Christian Science Monitor (January 22, 2009)
- ^ Dow Down 50% Since Peak, Major Indices Approach New Lows, 27 Feb 2009, CNBC.com
- ^ "Steep Market Drops Highlight Despair Over Rescue Efforts (Published 2009)". The New York Times. Archived from the original on 2022-04-16.
- ^ BoE cuts rate to 0.5%, embraces 'quantitative easing' Archived 2009-04-16 at the Wayback Machine. Financial Post.
- ^ 45 percent of world's wealth destroyed: Blackstone CEO. Reuters. March 10, 2009.
- ^ World Banks projection of June 22