S&P 500 Posts Worst Yearly Start On Record
Posted on Fri 27th Feb, 2009 05:55:30 PM
With headlines surrounding the Citigroup (C) deal today the market sold in heavy trade to complete yet another disastrous week. The S&P 500 is down close to 19% (18.6%) for the year marking its worst two month start on record, ever…
So where does that leave us overall? The Dow traded all this week under its November lows and the S&P 500 closed today for the first time below its November lows and 750. The NASDAQ meanwhile is still above its November lows but seems to also be heading towards the same fate.
With last Friday’s market summary we cited the original November lows and now the question becomes simply, where is the bottom anyway?
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