US stocks suffer worst day since 2008

  
Analysis, Global Indices
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Closing levels for the main US indexes

Closing levels for the main US indexes
US stocks fell to fresh session lows of 8% late in the day but staged a small bounce late in the day to finish at slightly better levels.
Nonetheless, it was the worst day for US stock markets since 2008 and possibly the worst day ever for oil stocks.
Here is the damage:
  • S&P 500 -7.6% — a 226 point decline to 2746
  • DJIA a 7.8% decline or -2015 points to 23,849
  • Nasdaq -625 points to 7950 — a 7.3% decline
  • Toronto TSX -9.3%
These headlines all sound terrible and this was the worst day for US stocks since December 2008 but when you consider that we’re only back to the June lows, it doesn’t seem that bad. A fall to the 2018 lows would be a decline of 31%.
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