Today in New York, the big news was the stock market plunge. The Dow Jones Industrial Average plunged 3.1%, or a whopping 416 points, the largest single-day drop since September 17, 2001 - the first trading day after 9/11. The NASDAQ fell 3.5%, or 50 points. European indices in the London Stock Exchange and Euronext experienced even larger drops, in certain cases exceding 4%.
Why is this? Blame Shanghai. Chinese stocks fell an amazing 9% today, spurring drops around the globe, particularly after 2:30est when the Shanghai markets closed. OUCH! But not surprising. The Chinese economy has been super-saturated for ages now.
Why do I care? Because I lost in excess of $350 in the market today. Yippee.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment