WSJ: “Stock Rout Puts Nasdaq in Bear Market”

Dow Jones Drops 414 Points to Close at 22,445

Say what you will about the housing market’s up’s and down’s.

But, I don’t know anyone who bought a home in early October for $270,000, that’s suddenly worth only $225,000 scarcely 10 weeks later.

Yet, that’s almost exactly what’s just happened in the stock market.

Just subtract two zeroes.

Historic Swoon

So, since setting an all-time of 26,828 on October 3, 2018, The Dow Jones Industrial Average has now fallen almost 4,500 points, to today’s close at 22,445.

Smaller stocks, and formerly high-flying tech stocks, have done much worse.

Will there be a January bounce?

Will the Federal Reserve ride to the rescue (again)?

Stay tuned . . .

P.S.: Of course, a similar drop in housing prices would cause significantly more pain, especially amongst recent Buyers, because homeowners typically have more leverage (as in, a mortgage).



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