That is a snapshot from the close on Thursday, wow those are some small numbers. The market caps respectively are $105 billion, $19.7 billion and $13.6 billion. I’m surprised GE is still that big and kind of surprised that BAC and C are that small. Obviously BAC and C were mega cap stocks not too long ago.
Not that this is a newsflash but these numbers are a reminder of how FUBAR the stock market is these days and it may be a while before things get back on track. While I was struck by a lack of (relative) negative sentiment the other day in the 4.5% drop and yesterday’s action didn’t seem to cause panic exactly it feels like the anxiety ratcheted up some.
From 30,000 feet it is fascinating how long this has been going on and how fast the decline was (38% in just one year is huge) and understandably people are very worried. If the SPX going to 600 crowd ends up being right that will scare a lot more people but at 778 the market is down 50% from its peak. Another 178 points from here is 22% more (11% as measured from 1565) so in that light we have already endured the worst in terms of numbers. I imagine that another 178 points from here would be worse in terms of fear created. I don’t know about you I think these numbers are important.