Scale
As of September 24, 2002, the Dow Jones Industrial Average had lost 27% of the value it held on January 1, 2001: a total loss of 5 trillion dollars. The Dow Jones had already lost 9% of its peak value at the start of 2001, while the Nasdaq had lost 44%. At the March 2000 top, the sum in valuation of all NYSE-listed companies stood at $12.9 trillion, and the valuation sum of all NASDAQ-listed companies stood at $5.4 trillion, for a total market value of $18.3 trillion. The NASDAQ subsequently lost nearly 80% and the S&P 500 lost 50% to reach the October 2002 lows. The total market value of NYSE (7.2) and NASDAQ (1.8) companies at that time was only $9 trillion, for an overall market loss of $9.3 trillion.
Read more about this topic: Stock Market Downturn Of 2002
Famous quotes containing the word scale:
“There is something in us, somehow, that, in the most degraded condition, we snatch at a chance to deceive ourselves into a fancied superiority to others, whom we suppose lower in the scale than ourselves.”
—Herman Melville (1819–1891)
“Another armored animal—scale
lapping scale with spruce-cone regularity until they
form the uninterrupted central
tail-row!”
—Marianne Moore (1887–1972)
“The most perfect political community must be amongst those who are in the middle rank, and those states are best instituted wherein these are a larger and more respectable part, if possible, than both the other; or, if that cannot be, at least than either of them separate, so that being thrown into the balance it may prevent either scale from preponderating.”
—Aristotle (384–322 B.C.)