The S&P 500 close at 752.44. It's down almost 50% for the year. That's the lowest it's been since 1997. Yep, 11 years of gains have been erased. That means if you started working from any point since 1997, and have been duitifully investing in a 401K, you are negative. If a fund option was "Bury it in my backyard", you would have a better return than everyone else.
It's down over 22% since Barack Obama got elected. While Obama didn't cause the financial crisis, noone can claim that there isn't uncertainity of what an Obama administration will do. The market will sell into uncertainity.
Back in 2002, there was fear it would go to 500. It stopped at 768 and climbed. We'll see what happens this year.
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