Re:$3.4T has been wiped out of the stock market in a week
by jiveturkey on Friday February 28, 2020 @01:02PM
(#22444782)
you might want to rethink your analysis.
global GDP is not "the stock market". The "stock market" in this story is actually the S&P 500.
The high on 2/19 was 3386.15. The low right now as I post this is 2978.76. That's a drop of 12%. That is not a pothole. That is the grand canyon, opening all at once, not over a million years.
Luckily, this is correlated to a single "act of god" event. It will recover. In the short term, however, there will be real consequences.
This is one of those very, very good times to buy.
Re:$3.4T has been wiped out of the stock market in a week
by gowld on Friday February 28, 2020 @01:25PM
(#22445028)
It's not the grand canyon opening. It happened in 2008 on a bad week, and it happened in 2018 over the month of September and again in the month of December.
global GDP is not "the stock market". The "stock market" in this story is actually the S&P 500.
The high on 2/19 was 3386.15. The low right now as I post this is 2978.76. That's a drop of 12%. That is not a pothole. That is the grand canyon, opening all at once, not over a million years.
Luckily, this is correlated to a single "act of god" event. It will recover. In the short term, however, there will be real consequences.
This is one of those very, very good times to buy.