The bursting of the Internet bubble and the 78% decline in the Nasdaq from its peak was one that many thought would be tough to repeat. However, the current decline in the S&P 1500 Homebuilder index makes the Nasdaq declines not look so bad. From its peak in July 2005, the homebuilder stocks have now lost 85%! And the S&P 500 Financial sector doesn't look much better. From its peak early last year, the financial sector has lost 71%. Many would argue that this 71% decline is much worse than the Nasdaq or the homebuilders since the financial sector didn't experience nearly the same gains on the upside. And even though oil isn't down as much as the others, the rapidity of the commodity's declines make it just as shocking. Over the last 97 trading days (early July), oil has declined 63%.
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