Richard

So far in October...

Tuesday, 7. October 2008, 22:31:45

crisis, finance, economy, depression, collapse

Here are the S.&P. sector breakdowns for the first five days of October:

Consumer Staples, down 7.2 percent
Telecommunications, down 9.7 percent
Health Care, down 10 percent
Utilities, down 11.6 percent
Energy, down 15.8 percent
Consumer Discretionary, down 16 percent
Industrials, down 16 percent
Information Technology, down 16.3 percent
Materials, down 18.2 percent
Financials, down 20.4 percent

Of the 500 stocks in the index, 12 are up so far in October, and nearly all of them are beaten down financials that bounced a bit from very low prices.

From And You Thought September Was Bad by Floyd Norris, New York Times.

What fun we are havingSoothing image for a trying day

Comments

noah counte # 8. October 2008, 00:15

It's Obama's fault. He's been talking down the economy.

musickna # 8. October 2008, 00:23

Of course!

noah counte # 8. October 2008, 00:47

Here's something for you: 23% of the nation's wealth is in the hands of the richest 1% of Americans. That's the most in history, save one year. Want to hazard a guess?

1928, the year that preceded the stock market fall we thought could never happen again (and my yet not happen again), and the start of the great depression.

If you had no other evidence, that would be something to make you scratch your head and wonder if trickle down (that's voodoo) economics was enough. That's the McCain promise.