With yesterday’s sharp declines, the S&P 500 is off to its worst start on record in 2008. The index’s five-day, 5.3 percent tumble beats its 5.2 percent drop at the top of 1932. And 1,000 of the broader S&P 1500 stocks are off 20 percent or more from their 52-week highs. “This will be a year to endure,” said Michael Farr of Farr Miller & Washington. (USA Today)
of The Week magazine.