It was a tough first three quarters for the stock market in general and for Pittsburgh stocks, with October bringing a modest regain of some of those losses in share price.
As a whole, 41 Pittsburgh-area major public companies and banks lost 24.2% of their total share value from the start of 2022 to the end of the third quarter. At the start of the year, this composite of Pittsburgh stocks was worth $2,208.04, which fell to $1,774.81 by Q3, a loss of $533.
Since the end of the quarter, those regional stocks have regained $99.93, about 22% of the year’s lost value.
This performance is slightly better than the S&P 500, which lost 25.2% through Q3 and regained only about 12% of those losses so far in October.
Read more at Pittsburgh Business Times.
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