Thursday, October 09, 2008

Slow Motion Crash

Analysts are declaring a "slow crash" (MSNBC video) on Wall Street. Today, one year from the Dow Jones' record high of 14,164, the index dropped to 8,579 -- a drop of 5,000 points in a year. This decline represents an $8.3 trillion drop in value.

Many are wondering just how low markets can go at this point, as daily declines of over 5 percent steadily degrade market value. Some are calling this a buying point, hoping that prices can only go up, however many experts say that things could get substantially worse before they get better.

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