S&P 500 losses nearly $1 trillion more than 2000-02
By Daniel at 19 November, 2008, 8:47 pm
NEW YORK (MarketWatch) — In just one year, stocks in the S&P 500 index, the yardstick most used by professional investors to gauge the U.S. stock market, have lost nearly $1 trillion more than in the entire 2000-2002 bear market, Standard & Poor’s said Wednesday. Since closing at a record high of 1,565 in October of 2007, the S&P 500 has now lost $6.69 trillion, said Howard Silverblatt, index analyst at S&P. That’s already nearly $1 trillion more than the $5.76 trillion lost during the entire bear market of 2000 to 2002. On Wednesday, the S&P finished at 806.59, its lowest close since March 12, 2003, and just 40 points away from 776.76, which marked the bottom of the last bear market. (Correcting to show the S&P 500 has now lost $6.69 trillion since late last year, nearly $1 trillion more than the $5.76 trillion lost in the last bear market).
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