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This chart from dshort.com compares the S&P 500 and NASDAQ (from the top of the Tech Bubble burst in March 2000 to present day) to the Dow of the Great Depression and the Nikkei 225 of the 1980s Savings and Loan Crisis - all adjusted for inflation, of course. There are two very simple points you need to take from this chart... http://conservativebrawler.blogspot.com/2009/05/mega-bear-quartet.html

Stocks remained sharply lower Monday afternoon as Pfizer's (PFE:NYSE - news - commentary - research - analysis) takeover of Pharmacia (PHA:NYSE - news - commentary - research - analysis) wasn't enough to quell investor paranoia about corporate accounting. A statement from President Bush that the economy was fundamentally strong wasn't helping either. The Dow Jones Industrial Average was recently down 296 points, or 3.4%, to 8389, while the Nasdaq was falling 25 points, or 1.8%, to 1349. The S&P 500 was behind by 30 points, or 3.3%, to 891, a level it hasn't seen since July 1997.Worries about the financial...