Stock Market: Holy Crud!

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.

About Roger Nusbaum 169 Articles

Roger Nusbaum is an Arizona-based financial advisor who builds and manages client portfolios using a mix of individual stocks and ETFs. Roger writes a popular blog, which focuses on risk management, foreign stocks, exchange traded funds, options etc.

Roger has been recognized by many in the investment management industry for his expertise in portfolio management. Roger has been regularly interviewed by the financial press, trade journals, and television news shows. He has also had numerous technical articles published and has been quoted in a number of professional trade journals, newspapers, and consumer finance magazines. He appears frequently on CNBC Asia as a market commentator.

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