Wednesday, October 08, 2008

Nation & World | Market losses take $2 trillion out of retirement savings | Seattle Times Newspaper

A stark snapshot...

The stock market's prolonged tumble has wiped out about $2 trillion in retirement savings over 15 months, a blow that could force workers to stay on the job longer than planned, tighten their wallets and possibly further stall an economy reliant on consumer spending, Congress' top budget analyst said Tuesday.

The Dow Jones industrial average has lost one-third of its value in a year, 1,400 points in the past five trading days alone.

Nation & World | Market losses take $2 trillion out of retirement savings | Seattle Times Newspaper

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