The Dow Jones Average is down about 635 points at closing, finishing at right around 10,810. This of course is hardly news as the market has been on a steady downslope for about a week now.

Just to give perspective, on July 21st the market closed at 12,724 so the DJIA has lost almost 2,000 points in about two weeks or 15% down.

However just to look at things in full perspective, one year ago the market closed at 10,698 so we are about where we were a year ago.

Not good but not that catastrophic either.

UPDATE: Barack Obama’s statement in response to recent financial events and the stock market roller coaster ride: