THE recent market sell-off, which has already shaved more than 750 points off the Dow Jones industrials, may have come as a bit of a surprise.
Graphic: Risky Business But the real shock, for those investors who haven't been paying attention lately, is how much worse other stock indexes have fared. For instance, gauges of small and speculative stocks, which have been red hot for the past three years, have suddenly turned ice cold and are on the verge of a real correction.
The Russell 2000 index of small stocks has lost 10 percent since its peak. And many emerging-market stocks, considered by many to be the most speculative types of equities, have posted 20 percent declines. "Greed is finally giving way to fear and safety seeking," said Joseph Quinlan, chief market strategist at Bank of America's investment strategies group.
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Graphic: Risky Business But the real shock, for those investors who haven't been paying attention lately, is how much worse other stock indexes have fared. For instance, gauges of small and speculative stocks, which have been red hot for the past three years, have suddenly turned ice cold and are on the verge of a real correction.
The Russell 2000 index of small stocks has lost 10 percent since its peak. And many emerging-market stocks, considered by many to be the most speculative types of equities, have posted 20 percent declines. "Greed is finally giving way to fear and safety seeking," said Joseph Quinlan, chief market strategist at Bank of America's investment strategies group.
read the complete article
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