OK, so I admit we're in a crisis: S&P 500 Drop Makes Decade Worst; Granville Sees Crash.
Oct. 7 (Bloomberg) -- Even the 1930s are looking better for U.S. stock investors after the credit crisis wiped out more than $7 trillion from equities in the past year.
The Standard & Poor's 500 Index lost 22 percent since the start of 2000 after sinking 15 percent this month, total return data compiled by Bloomberg show. The decline would be the first for a decade in 70 years and exceeds the 8.9 percent plunge in the 1930s, following the stock market crash of 1929, data compiled by New York University's Stern School of Business show.
``This is the worst financial experience in world history,'' said Joseph Granville, 85, a technical analyst who has been publishing the Granville Market Letter from Kansas City, Missouri for 45 years. ``We're in October, and the market is crashing. What we're seeing right now is complete demoralization.''