New York Stock Exchange losses worst in 30 years

By siliconindia   |   Wednesday, 19 November 2008, 17:52 IST   |    1 Comments
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New York: As New York Stock Exchange has been reeling under the financial turmoil, its member firms have suffered more losses since last year than in any downturn in 30 years, says the City Council, which tracks how they perform because they drive the city's economy. The report estimated that the companies it traditionally monitors have lost $41 billion since the 2007 third quarter. "In the 30 years that Council Finance has data for the industry, we have no period with losses even one-tenth of the size of the current loss." the report added.

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