What was happening in the world in October 2008?
On Friday, October 10, stock markets crashed across Europe and Asia. London, Paris and Frankfurt dropped 10% within an hour of trading and again when Wall Street opened for trading. Global markets have experienced their worst weeks since 1987 and some indices, S&P 500, since the Wall Street Crash of 1929.
What big events happened in 2008?
Gallery
- Gallery.
- Tibetan monks arrested after the March, 14 unrest.
- Cyclone Nargis killed more than 138,000 in Myanmar.
- 2008 Sichuan earthquake.
- XXIX Summer Olympics in Beijing, China.
- South Ossetia war.
- November terrorist attacks in Mumbai.
- Lehman Brothers went bankrupt following the subprime mortgage crisis.
What caused the 2008 stock market crash?
The stock market crash of 2008 was a result of defaults on consolidated mortgage-backed securities. Subprime housing loans comprised most MBS. Banks offered these loans to almost everyone, even those who weren’t creditworthy. When the housing market fell, many homeowners defaulted on their loans.
What was the stock market in October 2008?
The Dow would plummet 3,600 points from its Sept. 19, 2008 intraday high of 11,483 to the Oct. 10, 2008 intraday low of 7,882.
What was the Moon phase on October 1 2008?
Waxing Crescent Phase The Waxing Crescent on October 1 has an illumination of 5%. This is the percentage of the Moon illuminated by the Sun.
When was the full moon in October of 2008?
Full Moon is the lunar phase on 15 October 2008, Wednesday . Seen from Earth, illuminated fraction of the Moon surface is 99%. The 15 days old Moon is in ♉ Taurus. * The exact date and time of this Full Moon phase is on 14 October 2008 at 20:03 UTC.
What was happening in June 2008?
About 900 inmates escape, including 350 members of the Taliban. Bombings Kill Dozens in Iraq (June 17): At least 60 people are killed and about 75 are wounded when an explosive-laden minibus explodes at a bus terminal near a crowded market in a Shiite district of Baghdad.
How long did it take to recover from the stock market crash of 2008?
The markets took about 25 years to recover to their pre-crisis peak after bottoming out during the Great Depression. In comparison, it took about 4 years after the Great Recession of 2007-08 and a similar amount of time after the 2000s crash.
What happened in the 2008 housing crisis?
First, low-interest rates and low lending standards fueled a housing price bubble and encouraged millions to borrow beyond their means to buy homes they couldn’t afford. The banks and subprime lenders kept up the pace by selling their mortgages on the secondary market in order to free up money to grant more mortgages.