Shades of 1987 and 2008 in Current Level of Stocks Getting Crushed
- About 38% of companies on NYSE, Nasdaq trade at 52-week lows
- Only eight days since 1984 saw more stocks hitting new bottoms
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Take a peek beneath the surface of the latest turmoil in U.S. equities and you’ll find upheaval of a magnitude on par with the two biggest market crashes of the past four decades.
It can be seen in the percentage of stocks making new 52-week lows. Currently 38 percent of equities on the Nasdaq and New York Stock Exchange are trading below that level. Since 1984, there were only eight days when a bigger proportion of shares did so, according to Sundial Capital Research.