On March 9, 2009, the Dow Jones Industrial Average reached a new low at a close of 7,447.50, which was down 98.34 that day. What was the return (in percent) of the stock market that day?

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13 April, 01:50

On March 9, 2009, the Dow Jones Industrial Average reached a new low at a close of 7,447.50, which was down 98.34 that day. What was the return (in percent) of the stock market that day?

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Celia · Answer 1

Answer: - 1.26%

Explanation:

We can solve for this using the following formula.

Return on Stock Market = Down figure of Index / (Close figure of Index - down figure of Index)

So calculating we have,

Return on Stock Market = - 98.34 / (7,447.50 - (-98.34))

Return on Stock Market = - 98.34 / 7,545.84

Return on Stock Market = - 0.0126

Return on Stock Market = - 1.26%