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The Stock Market is down another 5% today. So the stock market is down almost 20% in the last few weeks. I suspect this is the worst two weeks for the stock market since the crashes in 1929 and 1987.
Since last summer:
The Dow Jones is down 33%
The NASDAQ is down 41%
and the S&P 500 is down 36%
The largest drop for the two weeks post 9/11/01 was a 14% drop, this is far worse!
Anyone have any other stats?
Last edited by Refugee56; 10-07-2008 at 02:24 PM..
The Stock Market is down another 5% today. So the stock market is down almost 20% in the last few weeks. I suspect this is the worst two weeks for the stock market since the crashes in 1929 and 1987.
Since last summer:
The Dow Jones is down 33%
The NASDAQ is down 41%
and the S&P 500 is down 36%
Anyone have any other stats?
1962 the market crashed 20.59%. The economy didn't blink. It continued to crank away at 5%-6% per quarter. In fact the economy was in a recession from 1960-1961, when the economy recovered, the market crashed.
The market lost 45% in 1973, but the economy continued to grow at 3%-5%. When the market recovered, the economy collapsed in 1974.
1962 the market crashed 20.59%. The economy didn't blink. It continued to crank away at 5%-6% per quarter. In fact the economy was in a recession from 1960-1961, when the economy recovered, the market crashed.
The market lost 45% in 1973, but the economy continued to grow at 3%-5%. When the market recovered, the economy collapsed in 1974.
Back then few people invested. Now our national wealth is based on stock market returns.
That's true. Only the wealthy were in the stock market in the 1930's, 1960s and 1970s. The 80s started mainstreaming it. Now, virtually everybody's retirement dollars are invested in equities, either individually, in managed funds or pension plans. This could be the largest collateral damage ever. People who didn't take a risky mortgage, buy more home than they could afford or invest in CDOs, etc. are getting creamed. For people near retirement, there is no recovering. The impact will be widely felt and far-reaching.
Back then few people invested. Now our national wealth is based on stock market returns.
home equity is still the primary source of wealth in the united states.
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