October can be an unforgiving month.
The terrible stock market crash that signaled the beginning of the Great Depression was in October of 1929.
The stock market crash known as Black Monday was in October of 1987.
In 1997, the Asian financial crisis sparked another stock market crash in… you guessed it—October.
And back in 2007 at the height of the giant bubble that almost brought down the entire financial system, the stock market peaked once again in... October.
It’s not that October is particular cursed. Maybe it’s just a coincidence. But I do find it strangely ominous that asset prices seemed to have peaked last month (October) and have been in decline ever since.
Real estate prices are starting to show signs of strain; more than one-third of homes for sale had a large price cut in October– the most discounting in the past eight years.
Corporate and government bonds are falling.
The S&P 500 is down 7%, and the big popular technology stocks that have been fueling the boom in stock prices for the past several years have been violently declining.
Facebook is down 36% from its peak. Apple is down 18% (and down more today on news of production cuts for iPhones). Semiconductor giant NVIDIA is down 45%.
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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
4 comments:
The dumbocrats are in full swing trying to talk down the economy. 2020 election campaigning is underway.
Really 714? Thats the extent of yiur understanding of macroecinomics? "The dumbocrats did it" Please refrain from voting until you graduate from finger painting to coloring books
7:32
Your juvenile adhominim attack doesnt address that we have a booming economy that the left wingnut media refuses to cover positively or at all. We had 8 years of Odumbo's policies of misery for all and it doesn't make dumbocrats look good
We are still suffering from the Obama years even with Trump's good economy. Obama was not for the American people. Americans are still trying to put the pieces together on issues and laws we had no control over. Americans are afraid to buy homes making the market flat. Americans are afraid that possibly Democrats could make America poor again. Afraid of responsibility. Can you blame them - No. It is a bad symptom that will take a long time to heal. Yet the Obama's go on and on and on how bad our economy is under Trump. We allow that. We buy there books to see what bad things the Obama's are saying now. In order to heal from the most unbelievable bad 8 years of Obama Administration we must forget what they have to say and start working with President Trump to make America better.
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