Now panic?

[javasaurus]

Dow closes down more than 600 points, ending less than 8700. It was at about 14000 one year ago.

GM is at 1950s levels (down more than 30% today).

Cedar Faire (they own Cedar Point, King's Island, King's Dominion, Knottsberry Farm, etc.) is down more than 20% for the day.

Edit: Dow closed down nearly 700 points, ending less than 8600.

Comments

[dawntreader]

holy crap. that's utterly unbelievable. :(

i got my 401K statement yesterday. not only did i lose this year, but i've lost more value than i ever put in for the last two years. i don't know if i should diversify more and put it in less stocks or what, or if that would make it worse. they keep saying don't do that, leave it alone, blah blah blah. but yanno? that sounds scary right now.

[wilhelmina-d.livejournal.com]

I have been panicing for a couple months now. I can't imagine the @%*(&$ bailout will actually stop this hemorraghing. But, this could end up being just a "market correction", too.

ETA: I did go and do some math and we're still not in the largest percentage stock market drop. The largest was, of course, the Great Depression at about an 88% drop (and later in the Depression there was a 47% drop after a signficant climb). In the 70s there was a 37% drop, the 80s had two big drops of 19% and 24%. I think the dot-bomb was only about 15%. Right now we're (since July) at about a 34% drop.