Honestly, I expected today to be up. In fact, it was a good day for much of the day. Overnight, the Hang Seng and the Straits Times were up over 3% in Asia. The European markets lost only a few percent. None of this prepared us for the carnage we witnessed in New York. As the market neared close, the bottom fell out again. The Dow fell a breathtaking 678 points.
Yet again, every component of the Dow was down, with GM at its lowest level since 1950. The broader market saw only 23 of 500 S&P 500 companies avoid a loss. We are witnessing a crash of historic proportions.
Source
S&P 500 Index Members – Bloomberg