From: John Conover <john@email.johncon.com>
Subject: A year ago today, the NASDAQ was at an all time high
Date: 9 Mar 2001 22:07:46 -0000
March 10, 2000 the NASDAQ closed at an all time high of 5048.62.
It closed today at 2052.78 -115.95 (-5.35%), or its value is about 41%
of what it was a year ago today, for a loss of 59%.
John
BTW, when was the last time a major American market index fell at
least 59% in a year?
The answer? Not in the last century, and not during the Great
Depression:
The DJIA, on September 3, 1929 closed at a high of 381.17, which it
did not reach again again until November 23, 1954, (382.74). On
September 3, 1930, it closed at 237.54, for a drop of 38% in a year.
It continued to deteriorate until July 8, 1932 when it closed at low
of 41.22, for a loss in value of 89%.
The S&P 500 closed at a high of 31.92 September 7, 1929, which it
did not reach again until October 25, 1954, (31.96). It was 21.65 on
September 25, 1930, for a drop of 32% in a year. It continued to
deteriorate until June 1, 1932 when it closed at a low of 4.40, for
a loss in value of 80%.
--
John Conover, john@email.johncon.com, http://www.johncon.com/