The Stock market is crashing. Now I know there are many out there who are feeling a lot of Schadenfreude over that. But the Dow is bouncing up and down in quantities of points that haven't been seen since the meltdown of 2008. It fell a thousand points in the early hours, then came back to -200, now it's back down to -600, no...back to -250.
I think I'm gonna be sick. Since I don't see any diaries on this very important subject (yes, folks, it is). I figure that I'll start an open thread or something like that.....it's -450.
More below when I get some more information....
The Shanghai Composite index fell 8.5% today. The index also suffered heavy losses last week, losing 11.5% of its value in just five trading sessions. The benchmark index has now wiped away all gains made in 2015.
The rest of the World markets are down about half that, but the day is only half over. I remember 1987, most of the 508-point fall was in the last ten minutes.
10:18 AM PT: later on in the day, this may have turned out to be a "flash crash" The famous May 6, 2010 event also known as The Crash of 2:45, was a possible terrorist incident in which the market fell a thousand points in like ten minutes, then came back to where it was just as fast. I remember it quite well, as I got into an argument with a friend who told me that my call while it happened ruined his day.
The Dow fell a thousand points in just a few minutes, that means it's a crash. I'm glad that calmer heads prevailed. What happened in China's Stock Market is different though.