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:
“It is in vain that we would circumscribe the power of one half of our race, and that half by far the most important and influential. If they exert it not for good, they will for evil; if they advance not knowledge, they will perpetuate ignorance. Let women stand where they may in the scale of improvement, their position decides that of the race.”
—Frances Wright (1795–1852)
“Every man needs slaves like he needs clean air. To rule is to breathe, is it not? And even the most disenfranchised get to breathe. The lowest on the social scale have their spouses or their children.”
—Albert Camus (1913–1960)
“The poet is the person in whom these powers are in balance, the man without impediment, who sees and handles that which others dream of, traverses the whole scale of experience, and is representative of man, in virtue of being the largest power to receive and to impart.”
—Ralph Waldo Emerson (1803–1882)