http://money.cnn.com/2015/08/24/investing/stocks-market-crash-by-the-numbers/index.html Stock markets around the world are plunging. The U.S. is on track for its biggest daily market drop since the darkest days of the 2008 financial crisis. It's ugly. But before you panic, let's put this in perspective. This is hardly the worst day ever for stocks. This pullback also comes after six years of stellar stock market gains. CNNMoney breaks down what's going on... and just how bad it is compared to past drops. 1. Worst day for stocks since October 2008. The Dow shed about 1,000 points in early trading. America hasn't had a day like that since October 15, 2008 when the financial crisis was in full effect and people were worried about more banks like Lehman Brothers collapsing. 2. Today is not that bad compared to "Black Monday" in 1987. Yes, there's a lot of panic today, but the Dow tumbled a whopping 22.6% on October 19, 1987. Today the Dow is only down about 3%. 3. Stocks have gained 200% since financial crisis. Stocks don't just go up. We all know that, but it's been easy to forget it in recent years. Stocks have been rising -- a bull market -- since early March of 2009. The S&P 500 has gained about 220% in the past six years. The plunge in the past few days has whipped out a mere 11% of those gains. 4. The stock market just had a correction. Investors like to throw around a lot of terms -- corrections, bear markets, crashes. The technical definition of a correction is a 10% drop from a recent peak. At the moment, the Dow, S&P 500 and Nasdaq indexes -- America's "Big 3" -- are all in correction mode. They peaked in the spring and have lost over 10% since then. A lot of experts say America was overdue for a correction. They are natural -- kind of like needing to tap the breaks on a bike or car sometimes.
I struggle at economics so maybe I should just cede to the experts... but I don't like that "correction" phenomenon narrative that I am seeing. Seems awfully like trying to downplay loss just to keep trust. Like something they just say so we don't panic and in turn we avoid a real crash. why would 'the market' naturally feel the need to tap the breaks? 'the market' is way more complicated than that. maybe someone smarter than me can explain but I feel its just wall street talk while our stocks plunge
Already gained back a lot from the opening bell. I think it will close under 1000, today, though. "World fears" Most problems coming from Asia, and oil surplus.
For those who wish to put on there Glenn Beck tin foil hats http://beforeitsnews.com/politics/2...ly-obliterate-the-global-economy-2725288.html
If Bush or another Republican was in office you know that the media wouldn't be blowing this all off like they are now. They need to prop Obama up the best they can. This is the fake Obama economy falling apart. We all knew this was coming. Good news is that it is a very good buying opportunity.
That said, I dont expect much bad out of this. Its pretty meh. We are due for a global recession anyway. Its natural to have peaks and valleys over the years.
I'm gonna add to my positions shortly. There are some great bargains out there for good companies. Our country and companies are fine (Regardless of what the doom and gloomers tell us). The problem with China is everything is state owned so who knows what to believe about its data.
