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:
“With a defeated joy,
With an auspicious, and a dropping eye,
With mirth in funeral, and with dirge in marriage,
In equal scale weighing delight and dole.”
—William Shakespeare (1564–1616)
“How many women does one need to sing the scale of love all the way up and down?”
—Georg Büchner (1813–1837)
“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)