I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!


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This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

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Tuesday 16 April 2013

Worst One-Day Drop in 2013: Stocks Skid 2%, Dow Tumbles 250; Vix Spikes 40%







 



























By: CNBC.com Writer
                


Stocks finished at session lows Monday, posting their sharpest one-day drop this year, as disappointing economic data from China triggered a selloff in commodities.

The Dow Jones Industrial Average tumbled 265.86 points, or 1.79 percent, to finish at 14,599.20. All 30 Dow components ended in the red, led by Caterpillar and ExxonMobil.

The S&P 500 plunged 36.49 points, or 2.30 percent, to close at 1,552.36. And the Nasdaq dropped 78.46 points, or 2.38 percent, to finish at 3,216.49.

The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, surged more than 40 percent to finish above 17.

Major averages snapped a four-day winning streak last Friday, but still closed up more than 2 percent for the week.

All key S&P sectors closed sharply in negative territory, dragged by materials and energy.


Art Hogan, Lazard Capital Markets, explains what's behind today's stock market dive.
China's gross domestic product grew 7.7 percent in the first quarter, over the same period a year-ago, below the expected 8 percent level and down from 7.9 percent in the previous quarter. Data on Chinese industrial production for March also missed forecasts. China is the world's second-largest buyer of gold.
 

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