Dow below 11,000 drops +500 points
I am just watching the stock market and trying to figure out if we are in a bear market again (20% drop). If we aren’t there yet, then the downward trend will get us there soon enough. Of course, I was expecting bargain hunters to buy up shares and send the markets reversing. For some reason it hasn’t happened yet.
These are the last 2 week closing numbers. Â From 12,724 to below 11,000 (depends what we close out today) that is about -1,800 points.
Honestly, the S&P ratings downgrade was widely known to happen so I am not sure why the market is reacting this extreme. It may be the fact the Europe is having similar problems with their economy and debt loads and those situations are very ugly. Some of the countries are having riots because things are so bad.
Market Watch:
“The downgrade of U.S. debt is clearly the catalyst for today’s move, but not the reason. The downgrade simply highlights the United States has problems, which wi...
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