The Dow industrials dropped a whopping 370 points on Friday at the end of a historic week. Between the continuing drop in oil prices and the Fed raising interest rates for the first time in almost a decade, it is shaping up to be the most volatile December for the Dow Jones industrial average since 2008.
So far in December, the Dow has registered 12 days with moves of 100 points or more between one day’s closing bell and the next - five up moves and seven down moves. In December of 2008, there were a total of 13 such days.
December 2008 was just after the Lehman Brothers and Bear Stearns meltdowns. But even that December, as volatile as it was, looked better than this one. That December saw seven up days where the Dow moved up by at least 100 points, and six where it moved down by that much.