All 2014 Stock Market Gains Have Been Wiped Out

Stock Market Crash - Public Domain

Stocks ended a bloody, turbulent week with a broad-based slump Friday, sending the tech-heavy Nasdaq to its worst weekly losses in 30 months and eviscerating what remained of the Dow Jones industrial average’s 2014 gains.

The Dow, down 335 points Thursday in its worst single session performance of the year, fell another 115.15 points to 16,544.10, falling January’s 16,576.66 open. The Standard & Poor’s 500 dropped 22.08 points, (1%) to finish at 1906.13, falling below a key 1925 support level after Thursday’s 2% slide.

Nasdaq stocks suffered far worse, tumbling 102.10 points, 2.3%, to end at 4276.24, a four-month low. With Thursday’s 2% rout, the Nasdaq ended with its worst weekly performance since May 2012 and first consecutive, two-day slide of at least 2% since 2011. An early sell-off in semiconductor stocks started Friday’s rout. Among big losers: Fairchild Semiconductor, off 15%, Microchip Technology, down 12%, Micron Technology, off 9%, and Intel, down 5%.

The small stock Russell 2000 dropped 1.3% to 1,054, a 52-week closing low.

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1 thought on “All 2014 Stock Market Gains Have Been Wiped Out”

  1. The problem is that the Rich Man’s Club saw it coming two to three months ago and bet short. Don’t expect the securities exchange to do anything about it.

    The government caused this with Obamacare. The short comes in when people do not have money to spend.
    So the retail side of things crashes. Stores close. Businesses go broke.
    All because people no longer have the extra cash in their wallets to buy things they need.
    When Obamacare came in, it ate the discretionary income of the middle class. The middle class hasn’t been buying goods.
    NO SALES means bankrupt stores. Bankrupt stores mean more people out of work. It is a cycle that doesn’t end.
    The only thing that might work is to take the law down. Congress won’t do that.
    Well they won’t do it right now. They will wait until we are in a depression of long standing and then what they are going to do will be ineffective. It is too late, the horses have left the barn.

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