Market Commentary 10/13/2008
The Markets
Trading activity on Friday showed that at least some investors believe the markets to be near a bottom, after one of the most volatile weeks in Wall Street history. Down 468 points at 3 p.m., the Dow jumped 790 points to +322 points just after 3:30 p.m. before a round of profit taking brought it down to close at -128 points. For the week, the Dow lost 18.09 percent to end at 8,451.49. The S&P lost 18.14 percent to finish the week at 899.22, and the NASDAQ dropped 15.30 percent to close the week at 1,649.51.
Source: Morningstar.com. * Past performance is no guarantee of future results. Indexes are unmanaged and cannot be invested into directly. Three and five-year returns are annualized. The S&P, excluding “1 Week” returns, is a reflection of return to an investor, by reinvesting dividends after the deduction of withholding tax.
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