Here's a stock market statistic that will either depress you or give you some hope that things just can't get any worse. Floyd Norris, writing in the New York Times, noted that the decline of the S&P 500 from its peak in 2007 is worse than the stock market crash of 1929. (Hat tip: Clusterstock).
As of Thursday, the S&P 500 had fallen 56 per cent in 513 calendar days from the peak. On Jan. 29, 1931 – the same number of calendar days following the 1929 crash – the S&P 500 was down 49 per cent.
“The 1929 crash got off to a much faster start, but we have now more or less caught up,” Mr. Norris said.
