Another Lehman moment: S&P 500 closed at 1099.23 on 3 October 2008, closed 3 October 2011 at 1099.23!

According to the world’s financial markets, we are close to brink once again.   With the S&P closing below 1,100, the US market is now back to levels seen between September 2008 and October 2009, barring the October 2008 dip that lasted until March 2009, with other world markets back to lower levels still.  

Are we in for a repeat? With the S&P 500 closing on 3 October 2011 at 1099.23, one would be forgiven for thinking history wishes to repeat itself to the letter: on 3 October 2008 it closed at exactly the same level, 1099.23.

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