10 years ago the markets were in the midst of the financial crisis meltdown. Today's 832 point drop in the Dow is the 3rd largest on record (the 2 bigger ones this past Feb)... bigger than any of the one day drops in '08 . But in % terms today's drop it's less than half the 20th biggest % drop. https://tinyurl.com/zdnby8d
What is it about October? Though if memory serves, September is (even) worse historically.
Maybe a lower opening tomorrow then a bounce? But from the lofty levels achieved recently, this decline sure feels like it has more to go.
Great to hear from you pj!
The Dow dropped more than 800 points in one of the worst sell-offs since February as investors worried that sharply rising interest rates would constrain the nation’s historic economic expansion.
Higher rates tend to moderate economic growth and make borrowing more expensive for the U.S. government as well as businesses and consumers. The 10-year U.S. Treasury yield, a key benchmark for rates, has been spiking and is now at 3.2 percent, one of its highest levels since just after the Great Recession. Rates on many types of loans, such as those for mortgages and cars, tend to be tied to the government bond.