Wednesday, December 31, 2008

Mining sector hit hard in 2008

The Dow Jones U.S. Mining Index fell 49% in 2008 compared to a 40% drop for the Dow Jones Total Market index and 39% for Standard & Poor's 500 index, according to Business Week.

They also highlighted Phoenix-based Freeport-McMoRan Copper & Gold Inc., which had a 77% drop in value of their stock. Much of that has to be from copper's fall from over $4 earlier this year to $1.28 today. Ouch.

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