by Bill McBride on 3/14/2008 05:51:00 PM
Friday, March 14, 2008
The general definition of a bear market is a 20% decline in the major indexes over a several month period.
The S&P 500 peaked at 1565.15 (closing) on October 9, 2007.
As of today, the S&P 500 is off 17.7%; not quite a Bear market.
And no bank failures today ... so here is a song for Friday afternoon.
"The U.S. dollar is worthless,
I've got the Ben Bernanke Blues."