Page "Dow Jones Industrial Average" Paragraph 45

During 2002, the average remained subdued without making substantial gains due to the Stock market downturn of 2002 as well as the lingering effects of the Dot-com bubble.

In 2003, the Dow held steady within the 7, 000 to 9, 000 point level range by the Early 2000s Recession, the Afghan War and the Iraq War.

But by December of that year, the Dow remarkably returned to the 10, 000 mark.

In October 2006, four years after its bear market low, the DJIA set fresh record theoretical, intra-day, daily close, weekly, and monthly highs for the first time in almost seven years, closing above the 12, 000 level for the first time on the 19th anniversary of Black Monday ( 1987 ).

On February 27, 2007, the Dow Jones Industrial Average fell 3. 3 % ( 415. 30 points ), its biggest point drop since 2001.

The initial drop was caused by a global sell-off after Chinese stocks experienced a Mini-Crash, yet by April 25, the Dow passed the 13, 000 level in trading and closed above that milestone for the first time.

On July 19, 2007, the average passed the 14, 000 level, completing the fastest 1, 000-point advance for the index since 1999.

One week later, a 450 point intra-day loss, owing to turbulence in the U. S. sub-prime mortgage market and the soaring value of the yuan, initiated another correction falling below the 13, 000 mark, about 10 % from its highs.