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 by no means rank poetry high in the scale of intelligence—this may look like affectation but it is my real opinion. It is the lava of the imagination whose eruption prevents an earthquake.”
—George Gordon Noel Byron (1788–1824)
“The perch swallows the grub-worm, the pickerel swallows the perch, and the fisherman swallows the pickerel; and so all the chinks in the scale of being are filled.”
—Henry David Thoreau (1817–1862)
“‘Tis very certain that each man carries in his eye the exact indication of his rank in the immense scale of men, and we are always learning to read it. A complete man should need no auxiliaries to his personal presence.”
—Ralph Waldo Emerson (1803–1882)