Oh, Mama! Nasdaq Now Down 35% Since Election Day

OK, who is ready to give thanks? The Nasdaq Composite fell another 70.30 today, or 5.1%, to 1,316.12. That makes 167 points, or more than 11% in just two days. The index is now down 464 points, or 35% since closing on Election Day at 1780.12. Since peaking at 2859.12 on Halloween 2007, the Nasdaq is down 1,543 points, or 54%. In case you were wondering, the Nasdaq’s post-bubble low came on October 9, 2002, at 1114.11. That’s only 202 points away, which at the rate we’re going we could hit by Turkey Day. What’s wrong? Everything is wrong. As I was driving into the office this morning, NPR’s Morning Edition was having a cheery discussion about the nightmares caused by deflation. Congress is hemming-and-hawing about a bailout of the auto industry. There are worries about Citigroup. And tech, oy, don’t get me started. Turkey Day? Right now, every day is a turkey. Here’s an annotated list of the 10 most active tech stocks traded on the Nasdaq:  ... (link)