Stock market 08/24
Worst point drop for stocks since October The Dow shed over 1, points in early trading. That's never happened before. America hasn't had a point drop near that since October , when the financial crisis was in full effect and people were worried about more banks like Lehman Brothers collapsing. The Dow ended the day down points -- the worst one-day loss since August No time to dump your stocks. Today is not that bad compared to "Black Monday" in Yes, there's a lot of panic today, but the Dow tumbled a whopping Today the Dow was only down about 6.
If this were a true "Black Monday" like what happened in , the Dow would have fallen 3, points. Stocks don't just go up. We all know that, but it's been easy to forget it in recent years. Stocks have been rising -- a bull market -- since early March Yes, the stock market just had a correction.
Investors like to throw around a lot of terms -- corrections, bear markets, crashes. A lot of experts say America was overdue for a correction. They are natural -- kind of like needing to tap the breaks on a bike or car sometimes.
China's economy is in trouble. How bad is it?
Yes, American drivers love cheap gas at the pump, but investors get nervous when oil prices fall too low. Energy is still a substantial part of the U. When oil prices slide this much, it means a lot of companies aren't making money anymore. China has a problem: The current panic in the stock market began last week when China did a surprise devaluation of its currency.
Everyone knew China's economy was slowing down, but the devaluation was a red flag that China's government is very worried and the slowdown could be far worse that we realized. Given that it's the world's second-largest economy, investors are fearful that a faltering China could pull much of the world down with it. America is not in a "bear market. That is a far worse scenario. China crashed, not the U. A lot of people like to talk about a stock market "crash.
At the moment, it's fair to call China's major market selloff in recent weeks a "crash. Start your day right with the latest news driving global markets, from major stock movers and key economic headlines to important events on the calendar.
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