Assessing Damage in One of the Stock Market's Worst Dips of 2015By
It may be surprising that the U.S. stock market isn't in worse shape, given how the situations in Greece and Puerto Rico have deteriorated, China's equity market collapsed and Phil Lesh did so much of the singing in the Grateful Dead's farewell tour.
Still, the retreat from the last S&P 500 record in May is shaping up to be one of the worst dips of the year for the U.S. stock market. To track all the damage done so far, it may make sense to start at the end of last year. The Dow Jones Transportation Average hasn't set a new high all year and is down 12 percent since its record on Dec. 29. In fact, even amid the plunge in oil prices, the airline-heavy gauge has fallen to a nine-month low. The damage in that group has been pretty evenly split among the railroads that make a lot of money shipping crude oil and the airlines that spend a lot burning it once it's refined.
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