The index dropped more than 1% Friday to a level well below 3636 and
The index dropped more than 1% Friday to a level well below 3636 and
and is down more than 16% from the peak of a summer rally. Previously,
and is down more than 16% from the peak of a summer rally. Previously,
and is down more than 16% from the peak of a summer rally. Previously,
and is down more than 16% from the peak of a summer rally. Previously,
that level had been “support,” one where enough buyers had come in to send it higher in mid-June and even a few times in September.
that level had been “support,” one where enough buyers had come in to send it higher in mid-June and even a few times in September.
The buyers weren’t there this time around, and many may have turned into sellers once they lost confidence in the market’s ability to hold that level.
The buyers weren’t there this time around, and many may have turned into sellers once they lost confidence in the market’s ability to hold that level.
The market slump, the more vulnerable economy, and the inversion of some pandemic-time patterns have uncovered shortcomings in the plans of action
The market slump, the more vulnerable economy, and the inversion of some pandemic-time patterns have uncovered shortcomings in the plans of action
These dynamics signal waning optimism in the stock market’s outlook,
These dynamics signal waning optimism in the stock market’s outlook,
which is trying to reduce high inflation
which is trying to reduce high inflation