WIRED INDEX
Everything's accelerated in the new economy - including crashes and recoveries. Witness the last week of August: Japan's economy slumped so deeply that interest rates on its long-term government bonds fell to just over 1 percent - the lowest rate in four centuries. Russia's parliament dissolved in acrimony, more or less defaulting on short-term government bonds in the process.
Tech and Internet stocks were hardest hit, if only because they had scaled the heights so quickly. Amazon fell by 20.9 percent, and Dell slipped by 15.8 percent. Nasdaq 100 newbie Yahoo! closed at 29.4 percent less than it had the previous week. But of course the Dow did a 288-point dead-cat bounce the very next day.
It is still too soon to know what the turbulence means, beyond this: It is a global economy - for better ... and worse.
The Wired Index tracks 40 public companies selected by editors of Wired to serve as a bellwether for the new economy. For a complete description and the latest results, see stocks.wired.com/. The Wired Index is not a traded fund or portfolio. Some of the companies in the Wired Index may have an advertising relationship with Wired. Readers who use this information for investment-related decisions do so at their own risk.
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