The Dow closed within a whisker of a bear market - the index is down 19.99 per cent from its all-time high - and is now off 10 per cent this month.
Meanwhile, the S&P 500 is down 3 per cent this week, for a fourth consecutive week of declines and the longest losing streak since January. The index has fallen 8.7 per cent this June, which is the worst monthly performance since its precipitous 11 per cent decline in September 2002.
The Nasdaq is down 3.8 per cent on the week.
And June’s not over yet.
Friday, June 27, 2008
Bear market narrowly averted, traders start weekend with stiff drinks
Lifted from FT Alphaville: