December 9 in Markey: * Something similar happened in the week of December 9-13, 1996, when the Dow fell 170 points (2.6%) in two days, in reaction to a speech by Federal Reserve chief Alan Greenspan. On the previous Friday, December 6, 1996, Greenspan warned investors about irrational exhuberance in the market. Wall Street basically agreed: David Katz, of Matrix Asset Advisors was typical: We've 12had a wonderful two-year rally. Typically, after you have a two-year rally like that, the markets will slow. Yes, the Dow fell from 6464 to 6303 in two days, but then it almost doubled in the next three years, on some admittedly irrational exhuberance in late 1999 and early 2000.