Asia Reacts to the US Market Selloff
The Dow and S&P both suffered the 2nd Worst Point Drop ever Wednesday for the worst tumble since the crash of 1987.
In early trading Thursday, the Nikkei falls more than 10%, at its lows of the session below the key 9,000 level, the Hang Seng falls more than 7% and Australia drops more than 6%.
The Dow suffered its 2nd Biggest Point Drop Ever of 733.08.• The Dow's biggest point drop ever was on October 10, 2008 when the Dow fell -777.68 points
• The third biggest point drop ever was on September 17, 2001 after 9/11 when the Dow fell -684.81 points
• The Dow is down 39.02% off its market peak on October 9, 2007 of 14,164.53
• All Dow components were negative today by -4.60% or more except for Coke which ended the day up 1.10%.
• The Dow swung 778.64 points from the high of 9308.76 to the low of 8530.12
The S&P 500 also suffered its 2nd Biggest Point Drop Ever losing -90.17 points.
• Today's loss of 90.17 points is the 2nd largest point drop ever, only exceeded by 9/29/2008 when the S&P lost -106.62 points
• Today's 9.03% drop is the 5th biggest % decline for the S&P 500
1. -20.46% on 10/19/1987
2. -15.06% on 10/29/1929
3. -10.30% on 5/14/1940
4. -9.92% on 11/6/1929
• The S&P is now down almost 41.72% from its peak of 1565.15 on October 9, 2007
• 495 of the 500 constituents were down for the day except for 4 Financials and Coke:
-Hudson City Bank , General Growth Properties , National City , Regions Financial , and Coke .
• Market Capitalization: Since the close on September 12, 2008 (Lehman went bankrupt over the weekend) the S&P has lost $3.1 T in market cap
• The S&P swung 92.97 points today from its high of 997.92 to its low of 904.95
NASDAQ Composite: At Wednesday's close of 1628.33, down -150.68 and -8.47% (its low for the day), today's close does not rank in the top 10 point declines, but it is the 7th biggest % decline for the NASDAQ Composite.
• Today's loss of -8.47% was 7th Biggest % Drop for the NASDAQ
-The biggest % drop for the NASDAQ Composite is still -11.35% on 10/19/1987
• The biggest point drop for the NASDAQ Composite is still the 355.50 point drop on 4/14/2000
• The NASDAQ is now down almost 42.2% from its peak of 2859.12 hit on October 31, 2007
• All NASDAQ 100 constituents were negative Wednesday by almost 2% or greater except for UAL which closed up 3.09%.
• The NASDAQ Composite swung 132.90 points today from its high of 1761.23 to its low of 1628.33
VIX: At current level of 69.25, up 25.61%
Crude Oil: Settled at $74.54 per barrel, and oil is now down over 23% YTD and almost 15% over the last 12 months
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