The stock market continues to move lower as the year comes to an end

The stock market is ending one of the worst years of record this week. The market which has lost over 40% of its value during 2008 continues to head lower. The economy and record loss of wealth in the world will forever be a headline attached to 2008. Investors have lost trillions of dollars in net wealth over the past twelve months and there have been very few industries that have escaped from the dramatic decline with the economy. The number of billion dollar corporations to go under reads like a list of top brands as no one has been immune this year to the economic challenges.

The housing market was a major focus of the economy for the first part of 2008 and then energy prices gained attention as oil prices rose to record levels. The market fell apart in September with the fall of Lehman Bros as the credit markets completely froze. Over the past 90 days stock prices have dropped another 20% and consumer confidence has moved to 2008 lows. The retail industry struggled with a dismal holiday period and almost every industry is looking forward to seeing 2008 in the rear view mirror.