Somali pirates hijack Saudi-owned oil tanker
Stocks fall on fresh evidence of deteriorating economy, including massive layoffs at Citigroup
Change Since
Lehman Bankruptcy
Russell 2000 -40.8%
Nasdaq Comp. -36.9%
Dow Transports -36.8%
S&P 500 -33.9%
Dow Industrials -28.3%
Dow Utilities -22.0%
S&P 500 Sectors
Financials -48.4%
Materials -45.8%
Consumer Discretionary -43.0%
Industrials -38.1%
Technology -36.5%
Energy -27.9%
Telecom -24.6%
Healthcare -23.5%
Utilities -22.9%
Consumer Staples -20.9%
Other Major Sector Indices
REITs -56.9%
Brokers -54.9%
Insurance -53.4%
Cyclicals -51.9%
Housing -51.8%
Oil Services -51.4%
Healthcare -47.6%
Retailers -44.6%
Semis -43.6%
Banks -40.3%
Gold Stocks -37.8%
Defense -37.6%
Natural Gas Stocks -31.4%
Oil Stocks -29.7%
Airlines -29.2%
Biotech -27.4%
Consumer -25.5%
Drugs -16.3%
Markets Can’t Get Over a Hump on Hump Day
Today’s decline continues another trend from this period. Since the week of September 15, both the Dow Industrials and S&P 500 have failed to post a Wednesday gain – that’s 10 straight Wednesday declines! The prior record was seven which happened 7 times, last in 2000.
Here’s how the S&P has performed on each day of the week for the past 2.5 months:
Mon Tues Wed Thurs Fri
# of Losses 8 5 10 3 5
Average Loss -3.6% -2.6% -3.7% -5.6% -2.2%
# of Gains 2 5 0 6 4
Average Gain +8.2% +4.6% N/A +3.6% +2.2%
Worst performing companies in the S&P since Sept include:
Genworth Financial [GNW 1.06 -0.06 (-5.37%) ] is down 93% since September
AIG [AIG 1.59 -0.36 (-18.46%) ] is down 92% since September
Prologis [PLD 3.60 -1.02 (-22.08%) ] is down 91% since September
Hartford Financial [HIG 6.96 -2.68 (-27.8%) ] is down 88% since September
AK Steel [AKS 6.61 -1.29 (-16.33%) ] is down 87% since September
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