The Dow Jones Industrial Average fell below 10,000 throughout the trading day on Monday. This is the first time that the Dow fell below the 10,000 point benchmark in the past three months. The Dow, which first hit the 10,000 point mark in November, came after a large rally which increased the stock market’s value over 50% since it fell to 6,500 in March 2009.

In the fall of 2007, the Dow was over 14,000 but because of the housing crisis and financial meltdown, the market average fell to 6,500 in March. Monday’s selloff was largely attributed to the financial sector and concerns over how potential regulation could affect bank’s bottom lines. Several large banks saw their stock price drop by over 3%. Also, with the announcement of the amount of European Debt, many investors showed concern about how that debt would affect the global economy.

While 10,000 is considered by many to be a number just like any other, in the past it has appeared to have a significant psychological affect on investors. Each time the market has exceeded or fallen below that number, a major surge in buying or selling has occurred. Overall, the Dow Jones Industrial Average is down over 5% in 2010.