The Dow Jones Industrial Average lost 777 points on September 29, 2008, during the financial crisis.
It was then the largest single-day point decline in the Dow’s history. The fall followed the U.S. House of Representatives’ rejection of the Emergency Economic Stabilization Act, commonly associated with the proposed $700 billion Troubled Asset Relief Program.
The vote increased fears that policymakers would not be able to stabilize the financial system. Shares of banks and other financial companies fell heavily as investors assessed the consequences of the credit crisis, which had already been worsened by failures and rescues in the housing and banking sectors.
The 777-point figure should not be compared directly with the 22.6% percentage loss on Black Monday in 1987. The Dow’s index level was much higher in 2008, so point records and percentage records measure different things.