The Dow Jones Industrial Average rose by more than 1,000 points on Wednesday, erasing losses from a tough Christmas Eve session and marking one of the largest single-day point swings on record.
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|I:DJI||DOW JONES AVERAGES||27001.98||-22.82||-0.08%|
|I:COMP||NASDAQ COMPOSITE INDEX||8124.183658||-24.52||-0.30%|
The Nasdaq Composite and S&P 500 also posted single-day point increase records. The strong session came amid concerns related to political uncertainty, including a partial government shutdown and a spat between President Trump and the Fed.
FOX Business breaks down the Dow’s largest single-day gains and losses below.
12/26/18: 1,086 points
Driven by gains in the energy, retail and tech sectors, the climb marked the first time that the Dow has climbed more than 1,000 points in a single session. The single-day increase was also the Dow’s largest rise since 2008, when the market experienced extreme volatility during the financial crisis.
10/13/08: 936 points
The Dow soared this day after governments and central banks coordinated to pour money into markets in a bid to jumpstart a global economy frozen by the 2008 financial crisis.
10/28/08: 889 points
Just two weeks later, the Dow nearly set another single-day record on optimism that the Fed would cut a key interest rate. The rise occurred even as consumer confidence at the time reached its lowest level on record.
2/5/2018 - 1,175 points
2/8/2018 -1,033 points
February 2018 marked a shift for U.S. investors who had pushed U.S. stocks to fresh record levels. After several days of volatility, the Dow posted two of its worst point drops in history. Investors began mulling the reality that interest rates would in fact rise as the Federal Reserve promised to end its run of record low interest rates. The Fed did make good on its promise, raising rates for the third time this year last month. Stocks rebounded amid that trend, notching new records.
9/29/2008, -838.55 points
The U.S. House of Representatives sent the market tumbling on this day after it rejected a $700 billion financial bank bailout package, stunning investors and forcing the U.S. government to take other measures to shore up the tanking economy.
10/10/2018 -831.83 points
Traders suggested rising U.S. bond yields may have sent investors to do some profit taking. Large cap techs also pulled back to the tune of 4 percent for the Nasdaq Composite.