As reported by the AP, the Dow Jones Industrial Average (DJIA) fell to 6,763.29 yesterday, its lowest level since April 25, 1997.

That weekend, Volcano topped the box office, Princess Diana was still 4 months from her tragic death, and Barry Bonds was skinny.

From that point in 1997, it took nearly 126 months to reach its all-time high of 14,164.53 on October 9, 2007. It took a mere 17 months to come tumbling back down.

To illustrate what sort of historical drop this is, we compared the Dow’s performance since October 9, 2007 to the same length of time starting in October 9, 1929—a few weeks before the stock market crash that marked the beginning of the Great Depression.

From October 9, 1929 to March 2, 1931 the Dow dropped 46.8%, from 346.66 to 184.38.

From October 9, 2007 to March 2, 2009 the Dow dropped 52.3%, from 14,164.53 to 6,763.29.

The DJIA is admittedly an imperfect economic indicator: It doesn’t indicate how many families can afford their monthly bills, how difficult it is for the unemployed to find a job, or if there is an abundance of loan options available to small business owners. And since the Dow only tracks 30 blue chip stocks, it is limited even in measuring the overall stock market’s performance.

But the Dow Jones Industrial Average is the most-followed indicator of the fortunes of America’s largest companies, and of the market’s faith in them. The precipitous drop of the past 17 months shows that, despite unprecedented government bailouts and stimulus spending, these companies, and that faith, remain badly shaken.

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