markets now down for the year, although still up around 20% for 12 months.
of course a 7% fall is meaningless...just noise...average years have 14% falls at some point.
Is there anything unusual about this fall? Why was the market at all time highs last week and then plunge 7%?
The obvious change was interest rates - people got worried about a punch bowl being taken away.
But still, all around the world economic conditions are improving and we have a WH and congress here that is hellbent on handing the nation's treasury to corporations.
So what is going on? Maybe just some sort of technical flash crash b/c of heavy volume that the sleepy market couldn't handle, kicked off by the rise in rates. Then traders piled on.
So the question is if investors will now look for bargains, and if they do, will they get hit upside the head again with another 3% fall.