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WHAT HAPPENED: Dow Jones industrials down 436.37 at 10,208.25, Nasdaq composite index down 129.40 at 1923.38, Standard & Poor’s 500 Index down 53.26 at 1,180.16
HOW BAD: More than $554 billion in shareholder wealth was wiped from the entire market, says market researcher Wilshire Associates.
HIGH-LOW: Dow off almost 13 percent from record high of 11,722.98 on Jan. 14, 2000. Nasdaq off nearly 62 from record high of 5,048.62 on March 10, 2000. S&P has lost nearly a fourth of its value since its closing high of 1,527.46 on March 24.
WHY: Earnings warnings from high-tech bellwethers Yahoo!, Intel and Cisco Systems raised fears that the weak economy will hurt business.
FORECASTS: Most experts say the market is far from hitting bottom. "You can’t rule anything out," said Larry Wachtel, market analyst for Prudential Securities.
ADVICE: Experts are advising investors to review their portfolios, long-term strategies, and not to panic or make any sudden investment shifts simply in response to a market drop.
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