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:
“I don’t pity any man who does hard work worth doing. I admire him. I pity the creature who does not work, at whichever end of the social scale he may regard himself as being.”
—Theodore Roosevelt (1858–1919)
“Another armored animal—scale
lapping scale with spruce-cone regularity until they
form the uninterrupted central
tail-row!”
—Marianne Moore (1887–1972)
“That age will be rich indeed when those relics which we call Classics, and the still older and more than classic but even less known Scriptures of the nations, shall have still further accumulated, when the Vaticans shall be filled with Vedas and Zendavestas and Bibles, with Homers and Dantes and Shakespeares, and all the centuries to come shall have successively deposited their trophies in the forum of the world. By such a pile we may hope to scale heaven at last.”
—Henry David Thoreau (1817–1862)