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Article: No bottom in sight for bear market credit crisis: ; One year ago today, Wall Street celebrated five years of bull trading

Article from:
Charleston Gazette
Article date:
October 9, 2008
Author:
Copyright

THE NUMBERS 14164 Dow Jones industrial average on Oct. 9, 2007. 9258 Dow Jones average on Oct. 8, 2008. 35% Dow Jones loss from 2007 to 2008.

CHICAGO - The bear market that is ravaging investor portfolios is now one of the worst in modern U.S. history and has wiped out more than $7 trillion in shareholder value, with no bottom clearly in sight.

When it stops and how far it drops, no one can predict with any accuracy - a painful uncertainty underscored by Wall Street's giddy mood at the moment the steep descent began.

A year ago today, Wall Street was celebrating the fifth anniversary of a bull market that had created $10 trillion in shareholder wealth since 2002. The Dow Jones industrial ...

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