Market Watch - 'True Carnage': Stock-market Selloff Wipes $13 Trillion in Market Cap off Broad U.S. Benchmark

Article by William Watts in Market Watch

The U.S. stock market’s latest leg down is spreading the pain for investors. Data from research firm Bespoke Investment Group shows just how broad-based and deep the 2022 selloff has been so far.

A 24% year-to-date drop for the broad Russell 3000, which aims to track the 3,000 largest U.S. traded stocks, wiped out $13 trillion in market capitalization, the analysts said, with several former high flyers down more than 60% from their 52-week highs. 

They also found the average stock was down 41.7% from its 52-week high as of Monday’s close. That means the average stock would need to see a rally of 71.5% to get back to its high.

“This is just true carnage in equities unlike anything we’ve seen since .........

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