Traders working on the floor of the New York Stock Exchange.
I visited the NYSE one year after the Dow’s biggest one-day drop. It was eerily calm and there was hardly a buzz to be witnessed after the morning bell rang.
I decided to take portraits of the individual traders, with their calm faces, in stark contrast to the frenetic energy caused last year by high risk securities related to subprime home loans.
A brief history of last year’s events:
As the trading day nears an end, the House rejects the financial rescue bill. Investors are stunned and dump stocks frantically until the Dow ends 777 points lower, at 10365.45, its biggest one-day point drop ever. The S&P 500 also logs its biggest one-day point drop, falling 106.59, or 8.8 percent, to 1106.42. The Nasdaq has its biggest one-day point decline since 2000, falling 199.61, or 9.1 percent, to 1983.73.
Wall Street’s key barometer of investor fear, the VIX (CBOE Volatility Index), jumps 34.48 percent to 46.72, its highest level ever. The VIX hasn’t been above 40 in more than 10 years.