Wednesday, February 28, 2007
Stock market factoid of the week
Unless you live in a cave in Waziristan you know that the Dow Jones Industrial Average declined by more than 400 points yesterday, a drop of 3.29%. The S&P 500 fell by 3.86%. The breadth of the sell-off was arresting. According to an email I just received from Morgan Stanley, 99.6% of the stocks in the S&P 500 went down yesterday. If my complex calculations are correct, that means that only two stocks in the S&P 500 did not lose value. And 498 did.
Ouch.
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