<P> The Times of London reported that the meltdown was being called the Crash of 2008, and older traders were comparing it with Black Monday in 1987 . The fall that week of 21% compared to a 28.3% fall 21 years earlier, but some traders were saying it was worse . "At least then it was a short, sharp, shock on one day . This has been relentless all week ." Business Week also referred to the crisis as a "stock market crash" or the "Panic of 2008 ." </P> <P> From October 6--10 the Dow Jones Industrial Average (DJIA) closed lower in all five sessions . Volume levels were record - breaking . The DJIA fell over 1,874 points, or 18%, in its worst weekly decline ever on both a points and percentage basis . The S&P 500 fell more than 20% . The week also set 3 top ten NYSE Group Volume Records with October 8 at #5, October 9 at #10, and October 10 at #1 . </P> <P> Having been suspended for three successive trading days (October 9, 10, and 13), the Icelandic stock market reopened on 14 October, with the main index, the OMX Iceland 15, closing at 678.4, which was about 77% lower than the 3,004.6 at the close on October 8 . This reflected that the value of the three big banks, which had formed 73.2% of the value of the OMX Iceland 15, had been set to zero . </P> <P> On October 24, many of the world's stock exchanges experienced the worst declines in their history, with drops of around 10% in most indices . In the US, the DJIA fell 3.6%, i.e. not as much as other markets . Instead, both the US dollar and Japanese yen soared against other major currencies, particularly the British pound and Canadian dollar, as world investors sought safe havens . Later that day, the deputy governor of the Bank of England, Charles Bean, suggested that "This is a once in a lifetime crisis, and possibly the largest financial crisis of its kind in human history ." </P>

When did the stock market crash in 2009