The Markets today crashed comprehensively, but not deeply. With a fall of 2.2%, our fall is relatively nice compared to what European Markets fell today and what the US market is at. As I write, the indexes:
DAX: –5.8%
FTSE: –4.5%
CAC: –5.5%
S&P 500 (US):-4.65%
FTSE: –4.5%
CAC: –5.5%
S&P 500 (US):-4.65%
Indian stocks on US exchanges are getting pummelled though, as IBN (ICICI Bank) is down 9%, and HDFC Bank (HDB) is down 4%.
The P/E (historical, standalone) has gone below 18 for the first time since 15 May 2009 (the day before the massive rise in the indexes (“Post Election Upper Circuit”), when it was 17.34.
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