October 21, 2008
The seesaw continues, more than wiping out the NASDAQ comeback on Monday. The other two indices fared somewhat better, holding on to a good portion of their day before advances.
The S&P500 and the NASDAQ have lost 25 percent of their value in the past 22 trading days. The DJIA, while doing slightly better, nevertheless, is off 21 percent.
These current losses are about twice as deep as experienced at this stage in the 2000 downturn. Moreover, in that earlier downturn, the S&P500 recovered 15 percent over the following 20 days. And it encountered just seven losing days in that run-up.
DJIA -2.50 percent
NASDAQ -4.14 percent
S&P500 -3.08 percent
This entry was posted on Tuesday, October 21st, 2008 at 12 052008000000Tue, 21 Oct 2008 17:40:44 +0000 and is filed under Market Report. You can follow any responses to this entry through the RSS 2.0 feed.
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