{"id":8599,"date":"2009-01-21T08:46:00","date_gmt":"2009-01-21T05:46:00","guid":{"rendered":"http:\/\/www.turkishnews.com\/en\/content\/?p=8599"},"modified":"2014-01-01T20:37:44","modified_gmt":"2014-01-01T18:37:44","slug":"obama-becomes-president-dows-industrial-average-fell-14-percent-the-biggest-decline-ever-since-1933","status":"publish","type":"post","link":"https:\/\/www.turkishnews.com\/en\/content\/2009\/01\/21\/obama-becomes-president-dows-industrial-average-fell-14-percent-the-biggest-decline-ever-since-1933\/","title":{"rendered":"Obama becomes president -DOW&#8217;s Industrial Average fell 14 percent &#8211; the biggest decline ever since 1933"},"content":{"rendered":"<div style=\"background-color: #ffffff;\">\n<div id=\"centercol\">\n<div id=\"tabs1\">\n<div id=\"article\">\n<div class=\"t_story\"><span class=\"news_story_title\">Worst Dow Drop Since Election  Meant Rally in \u201933 (Update1) <\/span><\/p>\n<div id=\"pe\">\n<div id=\"email\" style=\"margin: 0px 0px 5px; font-size: 9pt;\">Email | <a title=\"blocked::http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&amp;sid=aTv4IsA.Y7t8&amp;refer=home#\" onclick=\"javascript:window.open('\/apps\/news?pid=20670001&amp;refer=home&amp;sid=aTv4IsA.Y7t8','my_new_window','scrollbars=yes,resizable=yes,width=610,height=670')\" href=\"#\">Print<\/a> | <a title=\"blocked::http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&amp;sid=aTv4IsA.Y7t8&amp;refer=home#\" onclick=\"setStyleById('article', 'fontSize', '9pt');\" href=\"#\"><span style=\"font-size: 9pt;\" title=\"blocked::http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&amp;sid=aTv4IsA.Y7t8&amp;refer=home#\">A<\/span><\/a> <a title=\"blocked::http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&amp;sid=aTv4IsA.Y7t8&amp;refer=home#\" onclick=\"setStyleById('article', 'fontSize', '11pt');\" href=\"#\"><span style=\"font-size: 11pt;\" title=\"blocked::http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&amp;sid=aTv4IsA.Y7t8&amp;refer=home#\">A<\/span><\/a> <a title=\"blocked::http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&amp;sid=aTv4IsA.Y7t8&amp;refer=home#\" onclick=\"setStyleById('article', 'fontSize', '13pt');\" href=\"#\"><span style=\"font-size: 13pt;\" title=\"blocked::http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&amp;sid=aTv4IsA.Y7t8&amp;refer=home#\">A<\/span><\/a><\/div>\n<\/div>\n<p>By Jeff KearnsBloomberg.com: Worldwide<script src=\"\/jscommon\/ctype.js\"><\/script><script src=\"\/jscommon\/banner.js\"><\/script><script src=\"\/jscommon\/dropmenu.js\"><\/script><script src=\"\/jscommon\/header_v1.js\"><\/script><script src=\"\/jscommon\/flsh_charts.js\"><\/script><script src=\"\/jscommon\/flsh_nav.js\"><\/script><script src=\"\/jscommon\/bringupPlayer.js\"><\/script><script src=\"\/jscommon\/photos.js\" type=\"text\/javascript\"><\/script><script src=\"\/jscommon\/news_tabs.js\" type=\"text\/javascript\"><\/script><script src=\"\/ext-2.2\/adapter\/ext\/ext-base.js\" type=\"text\/javascript\"><\/script><script src=\"\/ext-2.2\/ext-all.js\" type=\"text\/javascript\"><\/script> <!--20670087--><\/p>\n<div id=\"content\">\n<map name=\"bba\">\n<area shape=\"RECT\" coords=\"25,0,189,28\" href=\"https:\/\/bba.bloomberg.net\/\" alt=\"blocked::https:\/\/bba.bloomberg.net\/ Bloomberg Anywhere\" target=\"_blank\"><\/area>\n<area shape=\"RECT\" coords=\"198,0,373,24\" href=\"https:\/\/software.bloomberg.com\/bb\/service\" alt=\"blocked::https:\/\/software.bloomberg.com\/bb\/service Bloomberg Professional\" target=\"_blank\"><\/area>\n<area shape=\"RECT\" coords=\"381,0,527,29\" href=\"http:\/\/about.bloomberg.com\/\" alt=\"blocked::http:\/\/about.bloomberg.com\/ About Bloomberg\" target=\"_blank\"><\/area>\n<\/map>\n<div id=\"header\"><span class=\"removed_link\" title=\"http:\/\/www.bloomberg.com\/?b=0\"><br \/>\n<\/span><\/div>\n<\/div>\n<div style=\"margin: 0px 5px 0px 0px; float: left;\">\n<div id=\"newsphoto\"><\/div>\n<\/div>\n<p>Jan. 20 (Bloomberg) &#8212; The Dow Jones Industrial Average fell 14 percent  between <span class=\"removed_link\" title=\"http:\/\/search.bloomberg.com\/search?q=Barack+Obama&amp;site=wnews&amp;client=wnews&amp;proxystylesheet=wnews&amp;output=xml_no_dtd&amp;ie=UTF-8&amp;oe=UTF-8&amp;filter=p&amp;getfields=wnnis&amp;sort=date:D:S:d1\">Barack  Obama<\/span>\u2019s election and Inauguration Day, the biggest decline ever. The  second-biggest drop gave way to a 75 percent rally in 1933.<\/p>\n<p>The CHART OF THE DAY compares the Dow\u2019s retreat since Nov. 4 with the 13  percent slide between <span class=\"removed_link\" title=\"http:\/\/search.bloomberg.com\/search?q=Franklin+D.+Roosevelt&amp;site=wnews&amp;client=wnews&amp;proxystylesheet=wnews&amp;output=xml_no_dtd&amp;ie=UTF-8&amp;oe=UTF-8&amp;filter=p&amp;getfields=wnnis&amp;sort=date:D:S:d1\">Franklin  D. Roosevelt<\/span>\u2019s election and his inauguration on March 4, 1933. The red line  goes on to show the Dow\u2019s surge during FDR\u2019s first 100 days. No other new  president since the beginning of the last century produced gains or losses of 10  percent or more in the analogous periods.<\/p>\n<p>\u201cObama is realizing the historic parallels,\u201d said <span class=\"removed_link\" title=\"http:\/\/search.bloomberg.com\/search?q=Richard%0ASylla&amp;site=wnews&amp;client=wnews&amp;proxystylesheet=wnews&amp;output=xml_no_dtd&amp;ie=UTF-8&amp;oe=UTF-8&amp;filter=p&amp;getfields=wnnis&amp;sort=date:D:S:d1\">Richard  Sylla<\/span>, an economic and financial historian at New York University\u2019s Leonard  N. Stern School of Business in New York. \u201cThe situation isn\u2019t quite as serious  as the 1930s but it\u2019s serious enough that I expect Obama to take a page from  FDR\u2019s book to restore some of the confidence that\u2019s been shattered.\u201d<\/p>\n<p>Obama becomes president today during the most severe economic crisis since  Roosevelt was sworn in 76 years ago. Like his fellow Democrat, Obama plans to  create jobs and boost the economy by investing in roads, bridges and public  buildings and increasing oversight of the securities industry.<\/p>\n<p>Stock exchanges closed for more than a week when FDR declared a bank holiday  and enacted reform days after becoming president. The Dow jumped 15 percent on  the day markets re- opened.<\/p>\n<p>The Dow average declined 187.25 points, or 2.2 percent, to 8,093.97 as of  1:12 p.m. in New York.<\/p>\n<p>To contact the reporter on this story: <span class=\"removed_link\" title=\"http:\/\/search.bloomberg.com\/search?q=Jeff+Kearns&amp;site=wnews&amp;client=wnews&amp;proxystylesheet=wnews&amp;output=xml_no_dtd&amp;ie=UTF-8&amp;oe=UTF-8&amp;filter=p&amp;getfields=wnnis&amp;sort=date:D:S:d1\">Jeff  Kearns<\/span> in New York at jkearns3@bloomberg.net.<\/p>\n<p><em>Last  Updated: January 20, 2009 07:09 EST<\/em><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"sponsorbox smallertext\">\n<div class=\"textad\"><script type=\"text\/javascript\"><!--\n adType = \"OAS\";\n Category = \"03\";\n HCat = \"x20\";\n Keys = \"null\";\n Width = \"3\";\n Height = \"3\";\n Tile = \"3\";\n\nCallAd(adType, HCat, Width, Height, Tile, Keys, Category);\n\/\/ --><\/script> <noscript>&amp;lt;A  title=blocked::http:\/\/ads.bloomberg.com\/RealMedia\/ads\/click_nx.ads\/bloomberg\/news\/worldwide\/story\/1570165@x20  href=&#8221;http:\/\/ads.bloomberg.com\/RealMedia\/ads\/click_nx.ads\/bloomberg\/news\/worldwide\/story\/1570165@x20&#8243;&amp;gt;&amp;lt;IMG  title=blocked::http:\/\/ads.bloomberg.com\/RealMedia\/ads\/click_nx.ads\/bloomberg\/news\/worldwide\/story\/1570165@x20  src=&#8221;http:\/\/ads.bloomberg.com\/RealMedia\/ads\/adstream_nx.ads\/bloomberg\/news\/worldwide\/story\/1570165@x20&#8243;  border=0&amp;gt;&amp;lt;\/A&amp;gt; <\/noscript><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Worst Dow Drop Since Election Meant Rally in \u201933 (Update1) Email | Print | A A A By Jeff KearnsBloomberg.com: Worldwide Jan. 20 (Bloomberg) &#8212; The Dow Jones Industrial Average fell 14 percent between Barack Obama\u2019s election and Inauguration Day, the biggest decline ever. The second-biggest drop gave way to a 75 percent rally in [&hellip;]<\/p>\n","protected":false},"author":83,"featured_media":643583,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[846,844,34],"tags":[745],"class_list":["post-8599","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-news","category-usa","tag-economic-crisis"],"_links":{"self":[{"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/posts\/8599","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/users\/83"}],"replies":[{"embeddable":true,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/comments?post=8599"}],"version-history":[{"count":0,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/posts\/8599\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/media\/643583"}],"wp:attachment":[{"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/media?parent=8599"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/categories?post=8599"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/tags?post=8599"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}