The stock market rout is starting to get really expensive — destroying $2.3 trillion from the market’s top last year and $1.5 trillion in net wealth just this year.
The giant companies that predominantly populate the Standard & Poor’s 500 have fallen an average of 8.9% this year — which, when translated into dollars, is real money. Real big money. The S&P 500 is down 8% this year already — including another 2.2% Friday — in what’s been one of the worst starts to a year ever. Since the market peak on May 21, 2015, the market has declined 11.7%