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Nasdaq 100 futures fall to bear market territory
Tuesday, January 22, 2008
NEW YORK (Thomson Financial) - U.S. stock futures fell sharply Tuesday, enough to put them into bear market territory.
S&P 500 futures were down 55.40 points at 1,269.90, which 20% below the Oct. 11 high of 1,586.50.
Nasdaq 100 futures slid 69.25 points to 1,780.25, which represents a 21% decline from the Nov. 1 high of 2,256.25.
The Wall Street rule of thumb is that a 20% decline from the previous high represents a bull market.
The Dow industrials futures shed 469 points to 11,637, or 18% below the Oct. 11 high of 14,270.
Tomi Kilgore
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