The Dow suffered its worst fall in terms of the points today, 777 points. But lets put that into perpective.
If we ring it up in numbers, it is USD $1,200,000,000,000 (1.2 Trillion). That is a mind boggling number. It took me a while to figure out how may zeroes go in there!
Let see how big that number is:
The amount is more than the GDP of India (1.1 trillion, Source), which, by the way, is the 12th largest country by GDP.
The reason for the sell-off, as most of you might have read, is the rejection of the bailout plan that the Bush admisnistartion brought on the floor of Congress in Washigton DC today. The administration is back at the drawing table, hopeful of crafting a new plan that would pass.
In the mean time, Wall street needs a prayer from all of us!