In the aftermath of the worst ever single-day point loss for the U.S. stock market, it turns out the gaming industry (contrary to analyst's predictions) is not immune. After the dust settled, the NASDAQ index (on which all U.S. video game companies are traded) had shed 199.61 points (9.14 percent).
No U.S. publisher survived the day unscathed. EA (down 9%), Activision Blizzard (down 13.8 %), THQ, and Take-Two Interactive all suffered serious losses as well as European developer Ubisoft (down 14.4%). Microsot, Nintendo, and Sony were also hammered, dropping 8, 4.5, and 6.5 percent respectively. While the percentages may not seem critical on face value, consider that top-dog Activision-Blizzard's 13.8% downturn works out to 3 billion USD in lost stock value. Microsoft's 8%? Try 21 billion.
But it's not all doom and gloom. Based on percentages, the crash that occurred in October of 1987 was far worse, seeing the Dow Jones Industrial average plummet 20% vs. the 6.98% drop seen yesterday. Comparatively, the market fell this week to the same level seen in 2005: stronger than the dot-com crash of 2000, but weaker than the economic surge seen last year. History may yet see that was yet another bubble ripe for bursting.
The U.S. stock market plummeted on Monday after the House of Representatives voted down a proposed $700 billion bailout package designed to keep Wall Street afloat.
-Stats via Gamesindustry.biz
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