Here's what's going on ~ doesn't matter where ~ it's August. The trained, experienced and seasoned investment analysts, brokers, bankers and mega-dollar shills are ALL ON VACATION. Yes...we are still in the summer doldrums. There's always some doom-and-gloom story to make the market tank in the summer.
Watch the market rebound to 14000 in Sept.
I only go back 5 years (since that's what Yahoo gives me) and it's same thing allatime ~ although this year is a bit sharper than anything since 2002. Now that was a drop. Saw it happen and moved my government employee account into the brand new S Fund (first day it was offered) and picked up a 58% increase over the next 8 or 9 months ~ something truly phenomenal.
However, knowing the way the future works, I could have lost 58% just as easily.