The Dow Jones Industrial Average and the rest of the major indices are now around 10 percent below the all-time highs they reached in May. The stock markets continued their sickening freefall on Friday, dragging the Dow down nearly 531 points and into dreaded “correction” territory. To put that into perspective, the Dow Jones Industrial Average would need to drop another 1,700 points or so before we’d even be having this discussion.
- and by “funny” I mean nauseatingly odd: stock prices really aren’t down that much.
- So a 30 percent drop in stock prices — imagine losing one-third of your portfolio!
- Nope, if the pattern of the last few years held, Wall Street would be thrilled right now that the Fed’s hands and feet are tied.