Ever since the beginning of the credit crunch, stock markets have plummeted. The STI has crashed as well. The STI, once approaching 4000, now languishes at a mere 2364 (Oct 2nd, 2008). Meanwhile, several previously high flying stocks have now crashed to earth. Stocks like Yangzijiang, SGX, Capitaland and Raffles Education, once market favourites, have had their stock prices seriously deflated. They have all lost at least 50% of their market cap from their highs, and up to 80% of their market cap.

The following series of stock charts is just a selection of many stocks which have crashed. They demonstrate how inflated the stock market was a year ago.

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