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U.S. Stocks Record Worst Ever Weekly Loss

Peter Cassata | October 11, 2008

The Financial Times reported late Friday that the Dow Jones Industrial Average fell by 18.2 percent this week, marking the worst weekly loss in U.S. history.  The FTSE 100 in the UK fell 21 percent this week to its lowest point since May 2003.  Weekly losses also reached 22 percent for the FTSE Eurofirst 300 and 24.3 percent for Japan's Nikkei 225.

U.S. oil prices posted a record daily drop of $8.89 on Friday, closing at $77.70 a barrel.  Oil prices sank 17 percent this week, and Friday was the first time in over a year that they have dipped below $80 a barrel.

Stocks fell 9.2 percent during the week of the Great Crash in 1929, with the Dow losing 23.6 percent at its lowest point that week.

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