Quote:
Originally Posted by petegz28
China and Japan down almost 3% right now. Think about this...granted we needed a correction and were due, but all of this violent selling and panic started because wage growth picked up just a smidge, jobless claims dropped and interest rates on the 10 year ticked up a whopping .3%
So because more people are working
And
People are making more money
And
Rates ticked up from an already low, low level of 2.5% to 2.8%
The market reacted by having some of the most violent and volatile sell offs, i.e. taper tantrums, in history
You'd think the ****ing world was coming to an end tomorrow
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The media has been pandering for a "correction" or "bear market" for 1+ years. Get a few days of investors taking profits off the table and people start seeing these selloffs as the peak of the market and the signaling of impending doom. It's a snowball affect. Does anyone think it's partially related to the amount of media and social media affect that so many see today on the markets? I really can't explain how this snowballed so quickly this week so that's just a thought.
The selloff was expected, but not at this type of weekly level. It's pretty crazy to say the least.