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:
“The Humanity of men and women is inversely proportional to their Numbers. A Crowd is no more human than an Avalanche or a Whirlwind. A rabble of men and women stands lower in the scale of moral and intellectual being than a herd of Swine or of Jackals.”
—Aldous Huxley (1894–1963)
“The Humanity of men and women is inversely proportional to their Numbers. A Crowd is no more human than an Avalanche or a Whirlwind. A rabble of men and women stands lower in the scale of moral and intellectual being than a herd of Swine or of Jackals.”
—Aldous Huxley (1894–1963)
“I love to weigh, to settle, to gravitate toward that which most strongly and rightfully attracts me;Mnot hang by the beam of the scale and try to weigh less,—not suppose a case, but take the case that is; to travel the only path I can, and that on which no power can resist me. It affords me no satisfaction to commence to spring an arch before I have got a solid foundation.”
—Henry David Thoreau (1817–1862)