Black Monday - On this day in 2008, it was Black Monday in worldwide stock markets ( The US Markets were closed for Martin Luther King, Jr. Day ) BUT futures trading around the world on US markets showed significant losses ). The losses were mostly averted when the FED announced a surprise rate cut of 0.75%. FTSE 100 had its biggest ever one-day points fall, European stocks closed with their worst result since 9/11, and Asian stocks drop as much as 15%. In January 2008 the Dow was at about 14,000 by the end of the year the Dow had dropped to 9,000 and has continued it's downward path but much lower suggesting the bottom is close to 8,000. The FTSE 100 has had a similar fall from about 6,000 at the beginning of the year to close to 4,000 currently .