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The Global Financial Meltdown |
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Written by Managing Editor
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Thursday, 30 October 2008 13:05 |
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The Global Financial Meltdown: Impact on Nigeria's Capital Market and Foreign Reserves
By
Mobolaji E. Aluko, PhD
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Burtonsville, MD, 20866, USA
October 29, 2008
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Introduction – The US and Global Financial Situation
The Dow Jones Industrial Average (DJIA), a major United States stock market index, was inaugurated on May 26, 1896 and opened at a value of 40.9. It has increased steadily ever since, despite several periods of decline.
On Tuesday, October 9, 2007, it attained its highest value ever at 14,164.53. However, by Wednesday, October 22, 2008, just over a year after DJIA's high, it closed at 8,519.21, representing a 39.85% decline in the index.
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Last Updated ( Sunday, 02 November 2008 00:32 )
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