Housing prices plunged, unemployment spiked and stocks tumbled more than 50 percent from the market's October 2007 high to its March 2009 low.
After the financial crisis, stocks tumbled by 54% before taking the next four years to reclaim the 14000 level again on Feb. 1 this year.
Stocks tumbled in the third quarter, a recipe for trouble in an IPO market that leans heavily on an appetite for equities as an asset.
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Meanwhile, analysts also say gold has formed some correlation with the stock market lately, a turnabout from late summer when gold drew safe-haven demand when stocks tumbled on the European crisis.
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Predictably, stocks tumbled when investors started to tremble on fears that the economy was on the brink of falling over the fiscal cliff, among them Coca-Cola (KO), Visa International (V), Disney (DIS), Amazon.com (AMZN), Apple (AAPL), J.
Elsewhere in Asia, stocks in the Philippines tumbled in heavy selling as foreign funds unwound positions in anticipation of the U.S. Federal Reserve beginning to wind down its bond-buying program.
Thanks to a late day rally, financial stocks surged, and the SKF tumbled more than 16%.
MorganChase (JPM) undeservedly got caught in the indiscriminate selling wave and tumbled along with many other stocks.
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The volatile stocks have both more than doubled in the last year, but Ivanhoe Energy has tumbled 57% and Ivanhoe Mines is down 43% since the stocks reached their peak in early November.
The euro tumbled to a fresh four-month low against the dollar and European stocks fell on Wednesday, after a disappointing Italian bond auction pushed the country's borrowing costs to a three-week high.
In August and September, MF Global shares tumbled more than 40% as concerns about Europe's financial instability hammered financial stocks.
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