The largest drop in the Dow Jones Industrial Average occurred on “Black Monday” in 1987. A meltdown in the Asian markets spread to the United States and Europe causing a 508.00 (22.61%) drop.
But it was on this day, October 15th, in 2008 that the Dow Jones Industrial Average had the second worst day in history with a 733.08 point (7.87%) drop.
This drop was so dramatic because it was in response to a report that retail sales had reached their lowest point in three years. Federal Reserve Chairman Ben Bernanke had also announced in a speech that economic recovery was most likely going to be slow.