October 24, 2008: Many of the world's stock exchanges experienced the worst declines in their history, with drops of around 10% in most indices. In the U.S., the DJIA fell 3.6%, although not as much as other markets.
What happened during the 2008 financial crisis?
Subprime mortgage crisis. Credit crisis. Bank collapse. Government bailout. Phrases like these frequently appeared in the headlines throughout the fall of 2008. This period ranks among the most devastating in U.S. financial market history. Those who lived through these events will likely never forget the turmoil. So what happened, exactly, and why?
What happened during the Great Recession of 2008?
By February 2009, Obama proposed the $787 billion economic stimulus package, which helped avert a global depression. Here is an overview of the significant moments of the Great Recession of 2008. The Great Recession began with the subprime mortgage crisis in 2006, when banks invested in mortgages in the form of derivatives.
