|
|
Article: Analysts Study Role of Stock Market on its Way to Loss for Historic Third Year.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- December 22, 2002
CopyrightCOPYRIGHT 2002 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
By David A. Sylvester, San Jose Mercury News, Calif. Knight Ridder/Tribune Business News
Dec. 22--For the first time in 60 years, the stock market is headed for its third consecutive year of decline, wiping out another $2 trillion in wealth.
And the losses have hit many: People nearing retirement will need to work longer than they expected. Pension managers must find ways to make up for losses so company pensions don't fall short. Taxpayers need to make up massive shortfalls in government budgets. Venture capitalists and executives at start-ups have a hard time raising money to expand.
More than this, the troubled stock market has created ...