Stocks down 11% in 2002
The Australian stock market share price index (All Ordinaries) was down 11.4% for the calendar year 2002 ended yesterday. This is the first negative year since 1994.
The US stock market (S&P500) also had a negative year in 2002 at -23.4%. This was the third negative year in a row after -13.0% in 2001 and -10.1% in 2000. The total change over the three years to 31 December 2002 is -40%. This will require a recovery of 67% to get back to original 31 December 1999 value at the end of the technology driven boom in stock prices over the period 1997 to 1999.
Posted Wednesday, 1 January 2003
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