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Old 12-28-2008, 07:04 PM
 
Location: Beautiful Lakes & Mountains of East TN
3,454 posts, read 6,714,271 times
Reputation: 874

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Wall St. closes out on 2008, year of record losses: Financial News - Yahoo! Finance (http://biz.yahoo.com/ap/081228/wall_street_week_ahead.html - broken link)

"...Investors are preparing to close out the last three trading days of 2008, a year in which Wall Street has logged its worst performance since Herbert Hoover was president.

The ongoing recession and global economic shock pummeled stocks this year, with the Dow Jones industrial average slumping 36.2 percent. That's the biggest drop since 1931 when the Great Depression sent stocks reeling 40.6 percent.

The Standard & Poor's 500 index is set to record the biggest drop since its creation in 1957. The index of America's biggest companies is down 40.9 percent for the year.

With these statistics ready to play out this week, it is little wonder why investors are all too happy to close the books on 2008..."

_________

I didn't realize it was that bad; comparing it to 1931 of course is on some levels apples-to-oranges, but it's still pretty dramatic, and damn scary to me.

Last edited by bbkaren; 12-28-2008 at 08:01 PM..
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Old 12-29-2008, 06:32 AM
 
Location: North Central Florida
5,408 posts, read 6,437,203 times
Reputation: 3216
[quote=bbkaren;6738662]
With these statistics ready to play out this week, it is little wonder why investors are all too happy to close the books on 2008....




I wonder how many of those investors actually think 2009 will be better? And may be wishing it was 2008 again, at this time next year.
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Old 12-29-2008, 07:51 AM
 
Location: Beautiful Lakes & Mountains of East TN
3,454 posts, read 6,714,271 times
Reputation: 874
That these could be looked back at nostalgically as the "good old days"...
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