Did you know? You can go to any day’s “This Day in History” page by simply entering the month and date after www.begintoinvest.com/
For example: www.begintoinvest.com/May-9
Or follow Begin To Invest on Twitter or Facebook for daily posts!
Prefer video? These are posted daily on our YouTube Channel (and embedded below)
Now, ‘This Day in History’ is also available as an Amazon Alexa Flash Briefing!
Quote of the Day
“Predicting rain means nothing – building arks does.”-Warren Buffett in his 2001 letter to shareholders.
September 17th – This Day in Stock Market History
September 17th, 2001 – Stocks trade again for the first time since the 9/11 terrorist attacks.
Trading opened with a moment of silence followed by a singing of “God Bless America”.
The Dow Jones Industrial Average would close the day down 684 points, -7.13%. At the time it would be the largest 1-day point decline in history, 14th worst day in terms of percentage drop.
US stocks would struggle for the remainder of the year as the shock of 9/11, and the ensuing consequences, were processed. In total, stocks would fall another 13% from where they closed after September 11th before rebounding.
Best September 17th in Dow Jones Industrial Average History
1931 – Up 2.10%, 2.50 points.
Worst September 17th in Dow Jones Industrial Average History
2001 – Down 7.13%, 684.81 points.
Read of the Day
One of the companies that took the biggest financial hit was Warren Buffett’s Berkshire Hathaway, due to his insurance and re-insurance operations. In 2001, Berkshire lost $3.77 billion. Buffett’s 2001 shareholder letter, reacting to the losses due to the 9/11 attacks, is a great source of education for investors within the insurance industries.
Also, you can find a book which has a collection of the shareholder letters of Berkshire Hathaway from 1965 to present here
<-- Go To Previous Day: September 16th, 1920 - JP Morgan Bank is bombed, killing 30 people.
Go To Next Day: September 18th, 1873 - Jay Cooke & Company declares bankruptcy, igniting the Panic of 1873 -->