Today, the stock market took a real beating! Every index (DOW, Nasdaq, S&P) went down at least 3%.
I'm sure it wont be a pretty picture in my 401K account tomorrow. Hope the stock market recovers soon.
Below is a news article explaining the blood shed.
NEW YORK
The Dow Jones industrial average was down more than 500 points with about an hour of trading left today but then gained about 100 of it back. The Nasdaq Composite fell more than 100.
A 9 percent slide in Chinese stocks, which came a day after investors sent Shanghai's benchmark index to a record high close, set the tone for U.S. trading.
Investors' confidence was knocked down further by data showing that the economy may be decelerating more than anticipated. A Commerce Department report that orders for durable goods in January dropped by the largest amount in three months exacerbated jitters about the direction of the U.S. economy, which were raised a day earlier when former Federal Reserve Chairman Alan Greenspan said the United States may be headed for a recession.
Read More
No comments:
Post a Comment