2002 over, 2003 below!
Tokyo closed 2002 at a 20-year low. The Dow finished 2002 with its worst loss in 25 years. The NASDAQ did even worse, dropping 31.2 percent. The S&P was down 23.3 percent on the year.
Stock pickers and analysts--hell, everybody--want to believe 2003 will be better. Because the Dow has still not corrected to the same degree as the other indices, and with consumer spending more tentative than at any time in the last decade, the heaviest blow may come in the spring and summer of 2003. I hope I am wrong, but I'm afraid I am not.
Posted by Mitch Ratcliffe at December 31, 2002 02:27 PM | TrackBack