by Bill McBride on 3/05/2009 04:00:00 PM
Thursday, March 05, 2009
More cliff diving today ... the good news is the market can lose 5% per day and never hit zero!
Joke of the Day (ht BR): "McDonalds adds Citigroup stock to its $1 menu!"
DOW off 4.1%
S&P 500 off 4.2%
NASDAQ off 4.0%
Click on graph for larger image in new window.
The first graph is from Doug Short of dshort.com (financial planner): "Four Bad Bears". (If not updated right way, Doug should update in a few minutes).
This is the 2nd worst S&P 500 / DOW bear market in the U.S. in 100 years.
Note that the Great Depression crash is based on the DOW; the three others are for the S&P 500.
The graph has been extended back to 1990.
The low in 1996 was 598.48.
Another 85 points or so to get back to 1995 prices.