Dow Plummets 680 Points
Since December 2007
Most Americans sorely knew it already, but now it's official: The country is in a recession, and it's getting worse.Wall Street reeled at the news. The Dow plummeted 680 points, and all major indexes lost over 7 percent of their value, erasing much of last week's gains. Washington pledged even more help to try to ease the pain.
The National Bureau of Economic Research concluded Monday that the country has been suffering through a recession since December 2007.
By one benchmark, a recession occurs when the gross domestic product declines for two straight quarters. But the bureau's dating committee uses more precise measures, including employment, personal income and industrial output.