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Wall Street Craziness Continues |
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Written by Value Seeker
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Wednesday, 14 November 2007 |
After a major rally due to a consistent selloff, market finds itself down yet again today.
The S&P was down nearly 1% today after a large gain yesterday. In recent weeks, there has been massive selling in the market due to rising commodity prices as well as fears of a renewed credit crunch.
The S&P is now up about 3.6% for the year. The highest it reached was about 10% for the year, and lowest it reached was -3% for the year. Tech has had a good year so far. Despite the selloff in tech over the past couple of weeks, the QQQQ ETF is up 16%. It had reached a high of 26% YTD returns of the year before its steep declines in recent trading sessions.
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