Word: dowe
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...Street economists less renowned for their gloominess have by now moved past the -3% mark. In fact, one explanation for the stock market's horrible week could be that the realization of just how bad the quarter will be is finally sinking in among investors. (See the Top 10 Dow Jones drops...
...down the road, however, isn't the kind of clarity Wall Street is looking for in these dire economic times. Coming a day after the Big Three CEOs' pleas on Capitol Hill dragged down the markets, Congress's muddled maneuvers on Thursday only made investors more anxious, pushing the Dow Jones down another 400-plus points and the broader S&P 500 index to an 11-year low. (See the Top 10 Dow Jones drops...
...Hedge funds as a class are still doing better than broad market indexes - or, rather, they have been performing less badly. The average hedge fund is down about 20% in 2008, according to Hedge Fund Research's HFRX global index. By contrast, the Dow has dropped 40% this year; MSCI's index of developed and emerging stock markets has plunged nearly 50%. But some large, established funds have taken big hits. In mid-October, the $17 billion Chicago-based firm Citadel Investment told investors that its flagship fund had dropped nearly 30% this year. According to Singapore-based Eurekahedge, which...
...Friday, U.S. unemployment hit a 14-year high and yet plenty of stocks rallied, with the Dow Industrials ending up nearly 250 points. On Monday, news of China's $586 billion stimulus package, a colossus of a program tha t should bolster the global economy, was washed away amid more company-specific concerns like the fate of G.M. It almost feels as though investors are once again paying attention to the underlying value of individual stocks, and aren't simply being swayed by broader economic news: bailouts, oil prices, hedge-fund liquidation, data pointing to recession...
...quarter of 2007, will be longer than the usual 18 months. The recovery will probably be anemic and for the next few years the U.S. economy is likely to grow below potential. That's the best-case scenario. It suggests that we are many months, and perhaps thousands of Dow index points, from a market bottom...