So when the S&P 500 index officially entered a correction — a 10 percent dip from a previous high — on Monday, most analysts didn’t panic, recognizing this sell-off as something that was bound to happen and largely triggered by China’s economic slowdown. Yet news sites are serving up a veritable buffet of disgruntled–looking traders, and some investors are suggesting today is a harbinger of an upcoming bubble burst, especially in tech.
Though the long-term effects of today remain to be seen, it was undeniably brutal. Along with the S&P entering correction mode, the Dow Jones Industrial Average kicked off the morning by falling 1,000 points; it finished down almost 600. Here’s how some Eastside firms fared:
Boeing: 127.21; down 3.4 percent today, down 12.3 percent over the week.
Costco: 133.16; down 4.2 percent today, down 8.8 percent over the week.
Esterline Technologies: 78.87; down 3.2 percent today, down 9 percent over the week.
Expedia: 108.83; down 5 percent today, down 10.5 percent over the week.
Microsoft: 41.99; down 2.5 percent today, down 10.7 percent over the week.
Outerwall: 59.58; down 3 percent today, down 7.8 percent over the week.
Paccar: 56.62; down 3.1 percent today, down 10 percent over the week.
Symetra: 31.07; down 1.3 percent today, down 1.7 percent over the week.
T-Mobile US: 38.78; down 3.4 percent today, down 5.9 percent over the week.