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Current DateTime: 12:58:51 14 Nov 2009
LinksList Documentid: 30111251
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Nov.19
3:19 PM ET
Wednesday, 19 Nov 2008
Markets Since Lehman, Record Wednesday Losing Streak

Since the Lehman bankruptcy on September 15, the S&P 500 has lost one third of its value. During this slide, which has spanned 48 trading sessions, the S&P has fallen on two-thirds of the days. On the days it has fallen, the S&P 500 has averaged a decline of 3.4%. On the flip side, during the 17 sessions the S&P has been up over this period, it has posted an average gain of 4.1%.

Here’s how some of the major indices and sectors have performed since the Lehman bankruptcy:

                           Change Since
                            Lehman Bankruptcy
Russell 2000                -40.8%
Nasdaq Comp.             -36.9%
Dow Transports           -36.8%
S&P 500                     -33.9%
Dow Industrials            -28.3%
Dow Utilities                -22.0%

S&P 500 Sectors          
Financials                    -48.4%
Materials                     -45.8%
Consumer Discretionary  -43.0%
Industrials                    -38.1%
Technology                  -36.5%
Energy                        -27.9%
Telecom                      -24.6%
Healthcare                   -23.5%
Utilities                        -22.9%
Consumer Staples          -20.9%

Other Major Sector Indices        
REITs                         -56.9%
Brokers                       -54.9%
Insurance                    -53.4%
Cyclicals                      -51.9%
Housing                       -51.8%
Oil Services                  -51.4%
Healthcare                   -47.6%
Retailers                      -44.6%
Semis                          -43.6%
Banks                          -40.3%
Gold Stocks                  -37.8%
Defense                       -37.6%
Natural Gas Stocks        -31.4%
Oil Stocks                    -29.7%
Airlines                        -29.2%
Biotech                       -27.4%
Consumer                    -25.5%
Drugs                         -16.3%

Markets Can’t Get Over a Hump on Hump Day

Today’s decline continues another trend from this period. Since the week of September 15, both the Dow Industrials and S&P 500 have failed to post a Wednesday gain – that’s 10 straight Wednesday declines!  The prior record was seven which happened 7 times, last in 2000.

Here’s how the S&P has performed on each day of the week for the past 2.5 months:

                   Mon          Tues          Wed          Thurs          Fri
# of Losses       8           5             10             3            5
Average Loss   -3.6%    -2.6%       -3.7%       -5.6%     -2.2%
# of Gains         2           5              0             6            4
Average Gain   +8.2%    +4.6%        N/A        +3.6%     +2.2%

Worst performing companies in the S&P since Sept include:

  • Genworth Financial [GNW  Loading...      ()   ] is down 93% since September
  • AIG [AIG  Loading...      ()   ] is down 92% since September
  • Prologis [PLD  Loading...      ()   ] is down 91% since September
  • Hartford Financial [HIG  Loading...      ()   ] is down 88% since September
  • AK Steel [AKS  Loading...      ()   ] is down 87% since September

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