On this beautiful, sunny day here in Richmond, two days before Thanksgiving, the Dow Jones Industrial Average dropped about 400 points this morning right out of the gate. The Dow is down about 8 1/2% from it's high a couple months ago. The Nasdaq, the more tech oriented stock index, is down about 14%. Remember that recession thing I keep talking about? Yeah, the beginning of it would look something like this if it were actually going to happen. But, of course, it's not, because former Fed Chair Janet Yellen said that they've figured out how to never have recessions again. Hmmmm... Maybe it's time for Wall Street to go back to REHAB. Here's my post from September 15th, 2018.
Recessions are Rehab for Wall Street
The Dow closed at 26,154.67 on Sept.14th, 2018. As of this writing, it's 24,521.13.
The Nasdaq closed at 8,013.71 on Sept. 14th, 2018. As of this writing, it's 6,865.42
No comments:
Post a Comment