Posted on 09/01/2015 1:07:17 PM PDT by blam
Myles Udland
September 1, 2015
It was an ugly day for the markets, as each of the major US indexes dropped nearly 3% to start September, which is traditionally the weakest month of the year for the stock market.
Oil got slammed on Tuesday, falling 8% with West Texas Intermdiate crude prices falling back near $45 a barrel after a 30% run-up in just 3 days saw WTI erase most all of its August losses.
Stocks started the day deep in the red and the selling pressure hardly relented at all into the closing, sending stocks out on their lows for the second straight Tuesday.
First, the scoreboard:
• Dow: 16,058, -470, (-2.8%)
• S&P 500: 1,913, -58, (-2.9%)
• Nasdaq: 4,636, -140-, (-2.9%)
And now, the top stories on Tuesday:
(snip)
(Excerpt) Read more at businessinsider.com ...
After gaining $15 Trillion from 2008, what is $1.5 Trillion loss?
You mis-understood my post. I was not talking about government’s wasteful spending. My point is stock market has gained $15 Trillion in last 7 years. It is perfectly routine for it to dip $1.5 Trillion. Markets never go up in a straight line.
“From the 2008-2009 bottom market has advanced 215% in 7 years. That is 4 times faster than average. While economy has grown less than 3% per year.”
No way this doesn’t end badly.
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