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November 14, 2012

Stocks Down Another 1+%; NASDAQ's Cumulative Drop Since Mid-September Is 10.6%

The DJIA fell 185 points.

Stocks started the day in positive territory but quickly gave those gains up to hand the Dow its fifth decline in the six sessions since Election Day. The blue-chip measure has lost nearly 5% over that span.

The Nasdaq's decline, meantime, brought its slide to 10.6% off its mid-September high, putting the index in a correction according to generally-accepted definition of a fall of 10% or more from its recent peak. The Russell 2000 index of small-capitalization stocks suffered a similar fate, falling 2% to 11% below its mid-September high.

A correction itself, this here article says, isn't a big deal itself and doesn't forecast a recession. But when losses exceed 10% in a relatively short period of time we might be looking at a crash.


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posted by Ace at 04:59 PM

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