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Financial Markets and Institutions FITH EDITION NOTES
| Institution | UNIVERSITY |
| Course | Financial Markets |
| Year | 1st Year |
| Semester | Unknown |
| Posted By | Mwalimu Evans Okoyo. |
| File Type | |
| Pages | 850 Pages |
| File Size | 13.49 MB |
| Views | 2562 |
| Downloads | 0 |
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Description
In the 1990s, financial markets in the United States boomed. The Dow Jones Industrial
Index—a widely quoted index of the values of 30 large corporations (see Chapter 8 )—rose
from a level of 2,800 in January 1990 to more than 11,000 by the end of the decade; this
compares to a move from 100 at its inception in 1906 to 2,800 eighty-four years later.
In the early 2000s, as a result of an economic downturn in the United States and elsewhere,
this index fell back below 10,000. The index rose to over 14,000 in July 2007,
but (because of an increasing mortgage market credit crunch, particularly the subprime
mortgage market) fell back to below 13,000 within a month of hitting the all-time high. By
2008, problems in the subprime mortgage market escalated to a full blown financial crisis
and the worst recession in the United States since the Great Depression. The Dow Jones
Industrial Arerage (DJIA) fell to 6,547 in March 2009 before recovering, along with the
economy, to over 11,000 in April 2010.
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SPH 302 LESSON 7: Thermodynamic potentials
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SPH 302 LESSON 8: Equillibrium between phases
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