Here's a tally of the carnage: The Dow lost 6.8 percent and 1,655 points on the week. It was its worst percentage drop since October 2008. The Nasdaq lost 8.3 percent on the week and is now 22 percent below its record reached in August, a bear market. The S&P 500 lost 7 percent for the week and is now down 17.8 percent from its record. The Dow and S&P 500, which are both in corrections, are on track for their worst December performance since the Great Depression in 1931, down more than 12 percent each this month. Both the Dow and the S&P 500 are now in the red for 2018 by at least 9 percent.
The selling had conviction. More than 12 billion shares changed hands on U.S. exchanges on Friday, the heaviest volume in at least two years. The expiration of options also added to the volume.
Last updated : 14 Sep 2019
I am 63 yrs old uncle living in HDB heartland who has achieved financial independence @ 56 and finally retired @ 60 from full-time job as employee on 1 Oct 2016.
Single household income since 1995 with three children.
Currently, two sons and one daughter are working.
I have been doing 20 years of long-term investing and short-term trading in Singapore stock market only since Jan 2000 so I am that so-called Panda or Koala in the investment world.
I am currently executing my Three Taps solution model to maintain sustainable retirement income for life till 2041 @ 85 yrs old.
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