Wow, I stayed up all night and semi expected the drop, what surprised me was the magtitude. Nobody else looked ?
Think this happens so drastically if the Fed chair doesn't say, "we're headed for a year-end recession?"
holy crap, i just saw the plunge. what happened at 3 pm to make it just fall off the table like that? it was just bad before that, not terrible. and i can't even execute mutual fund stuff until the close of tomorrow so it'll probably drop again tomorrow and hurt some more. better be short term, the market has been making me some money while i don't have a job, i need it to keep up.
I saw that but do not think it is really debatable, besides, US market is still more valued than others
You hear recession, lose confidence, housing market is eh, all the ARM's outstanding...Tough day at the office...
If I had invested any money yesterday, I would've been sitting in a corner of my room for a few weeks. This is just something you have to deal with when it comes to the stock market.
As far as I know, this is partly a reaction to the 8% drop of the Chinese stock market. That's a huge loss over there, and this follows it.
This was somewhat expected, and it wasn't all Greenspan's doing. Although, I'm sure it had a little to do with it. People have been predicting a pullback/correction in the market for months simply because everything has been going up so fast and so much. There are lots of factors that contributed to this plunge... two of the biggest being the Chinese market tanking hours before ours did and the housing slump/subprime lending "fiasco". This definitely was a global meltdown. Markets in Asia, the US, Europe, Latin America, etc. were all battered. Out of sheer luck (and from hearing over and over in the recent months we were headed for a correction soon), I decided to adjust my stop orders last night on most of my stocks, so I didn't get hit too bad (although my mutual funds are going to get rocked probably). All I know is I'm going shopping for discounted stocks within the next couple of days instead of sitting back and saying "ouch!".
