Stock prices have been quoted in fractions for two centuries, based on a system descended from Spanish pieces of eight. Each dollar was cut into eight bits worth 12. 5 cents each.
There's a dangerous bottom-lining, and super-summarizing that happens in a lot of our press and our media, and sort of our politicians' talking points, that's dangerously simple. I don't know a better way to say it. And there's usually a lot more complicated facts going on than what is quoted and quotable.