The Dow fell an additional three percent today, to 16,459.75, -530.94 from yesterday's close. Added to the 2% drop Thursday, these two days make up half of the ten percent value loss since the end of May. The S&P 500 lost nearly 65 points, and the NASDAQ is down almost 172 points from Thursday.
All stocks opened in negative territory and kept going down, the Dow in the last 15 minutes of the session losing over 120 points. The NYSE Big Board didn't catch up with selloff activity until nine minutes after close, so volatile was the session. In this day and age of computers, that's virtually unheard of.
There's a lot of debate today about "Is this a correction?" I don't think there's any doubt about it, and due to the overall world economic retraction, bordering on collapse in some countries, it's going to get worse, in my uneducated opinion.
Correction is one thing. The question now becomes, is this a renewed global crisis -- or perhaps more accurately, is this a continuation of a crisis we thought was over, but was just hiding in the weeds for the last four year? Recovery worldwide has been lethargic at best, and in some financial markets, non-existent. The collapse of China's economy could be the biggest domino in a long string that will tumble down in order.
All stocks opened in negative territory and kept going down, the Dow in the last 15 minutes of the session losing over 120 points. The NYSE Big Board didn't catch up with selloff activity until nine minutes after close, so volatile was the session. In this day and age of computers, that's virtually unheard of.
There's a lot of debate today about "Is this a correction?" I don't think there's any doubt about it, and due to the overall world economic retraction, bordering on collapse in some countries, it's going to get worse, in my uneducated opinion.
Correction is one thing. The question now becomes, is this a renewed global crisis -- or perhaps more accurately, is this a continuation of a crisis we thought was over, but was just hiding in the weeds for the last four year? Recovery worldwide has been lethargic at best, and in some financial markets, non-existent. The collapse of China's economy could be the biggest domino in a long string that will tumble down in order.