2008day.year
The stock market crashes after the first United States House of Representatives vote on the Emergency Economic Stabilization Act fails during the beginning stages of the Great Recession.
U.S. stock markets tumble after House vote on bailout bill fails during the Great Recession.
On September 29, 2008, U.S. stock markets plunged after the House of Representatives rejected the Emergency Economic Stabilization Act, the proposed $700 billion bailout plan. The Dow Jones Industrial Average fell by more than 6%, marking one of its steepest single-day declines. Lawmakers rushed to amend and repass the legislation amid global financial turmoil. The market crisis highlighted vulnerabilities in the banking system and the need for decisive government intervention. Public confidence wavered as the economy teetered on the brink of a deeper recession. This dramatic event underscored the intricate ties between political action and economic stability.
2008
stock market crashes
United States House of Representatives
Emergency Economic Stabilization Act
Great Recession