Posted on 07/26/2002 10:52:25 AM PDT by jh97
Oh, woe is the stock market! As I write this on July 21, 2002, the Dow stands at 8019, the lowest level since 1997. Nasdaq and the S&P 500 are at similar, pitiful levels.
There’s more. Richard Grasso, chairman of the New York Stock Exchange said today, "Mondays following Friday declines have always been difficult and I suspect tomorrow will be no different."
What’s going on?
The first thing to remember is that the precipitous market drop is deeply significant to the country, and not just to investors. The Dow and other U.S. stock markets represent the present and expected future values of all the publicly traded companies that operate in the country. There is no better analyst, person or institution, of where the economy is headed in the future than the market acting as a collective whole. MORE
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