This Day in Wall Street History 1903: A rich man's panic

The Panic of 1903 reached its nadir -- the Dow dropped to a paltry 42.15 as the stocks of industrial companies plunged to single-digit lows.

Also known as the "Rich Man's Panic," the fiscal crisis dragged on for the rest of the year, taking a severe toll on banks, as well as many steel and iron producers.

Source: History.com