With just over two full trading days left, 2008 is on track to be the worst year for stocks since 1931 when Herbert Hoover was in office and the Great Depression raged.
The ongoing recession and global economic shock pummeled stocks this year, with the Dow Jones industrial average slumping 36.2 percent. That's the biggest drop since 1931 when the Great Depression sent stocks reeling 40.6 percent.
The AP also says the S&P 500 is headed for the biggest drop in the index's history and that paper losses in the broadest measure of U.S. stocks, the Dow Jones Wilshire 5000, totaled $7.3 trillion.
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