————- 11 YEARS AGO TO THE DAY ————-

On the 9th

9/11

Mar 8, 2010,06:00pm EST

March 9, 2009: The Day Stocks Bottomed Out

"How low can stocks go?" That was the omnioius query topping The Wall Street Journal's Money and Investing section on March 9, 2009.

It wasn't an idle question. The Dow was on its fourth straight week of losses, while the broader S&P 500 was below 700 for the first time in 13 years. Goldman Sachs put out a research report that warned the S&P could fall as low as 400.

A year later, we know that March 9 was the bottom of a months-long financial panic that wiped away trillions of dollars in assets. But on what now appears to have been the best buying opportunity of a generation, many only wondered how much lower the markets would tumble.

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Everywhere you turned on the March day, it looked like the economy was ripping apart at the seams. Billionaire T. Boone Pickens had just announced he was pulling back his plans to build a massive wind farm in Texas because of the lack of investor interest. A managing partner at a hedge fund interviewed by The New York Times was advising well-off clients to buy shotguns to protect themselves against social unrest if the market fell any lower.

https://www.forbes.com/2010/03/06/march-bear-market-low-personal-finance-march-2009.html#4bb8412e3a13