Ugliness returned to markets around the world. Lower oil prices, worries about China, commodities companies dragging Europe lower - the plot is not new to us and 2%-3% is the norm for the day. As in, most stock markets are down that much today.
Once again, little in the way of fundamentals (news) to account for the day's action. Mostly it seems a continuation of the skittishness and fear we've seen all of this new year. But now things appear to have kicked into a higher gear, as outright chaos and panic are sneaking into the picture.
Oil is back under $30 again, the Industrials have been down between 300 and 500 points most of the day, NASDAQ is the biggest U.S. loser, and the S&P 500 is at 15-month lows. Surely we'll soon be hearing this drivel about markets approaching "official" bear market levels (down 20%), when in fact that 20% idea is ... Log in or subscribe to continue reading.