What you Need to Know About the Stock Market Plummet of 2015
Most people don’t pay too much attention to the stock market or even think much about it. One exception is on days like today when the market crashes dramatically. These days lead to a lot of media coverage about the market’s decline and can cause some folks to panic but don’t yet!
Today is not even close to as bad as “Black Monday” in 1987. The Dow tumbled a whopping 22.6% on October 19, 1987. Today the Dow was only down about 6.6% at its worst point. If this were a true “Black Monday” the Dow would have fallen 3,700 points.
Largest point drop for stocks since October 2008. The Dow shed over 1,000 points in early trading. That’s never happened before. America hasn’t had a point drop near that since October 2008, 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 588 points — the worst one-day loss since August 2011.
Low oil prices is scaring investors. Yes, we all love low gas prices at the pump, but investors get nervous when oil prices fall too low. On Friday, they fell below $40 for the first time since the Great Recession. When oil prices drop this low, it means a lot of companies aren’t making as much money. That hurts U.S. companies and many countries that depend on the profits from selling oil.
Follow the link to a great article explaining more! http://time.com/4008590/stock-market-401k-crash/
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