On the verge of bankruptcy: 62 percent of Americans have less than $1,000 in savings
J. D. Heyes
NaturalNews.com
Monday, January 11, 2016
he New Year started off poorly for global markets, in case you didn’t know, and what’s more, the outlook ain’t so good.
As reported by CNN Money, the Dow Jones Industrial Average had its worst four-day start in the history of Wall Street, with trillions in wealth vanishing on fears that China’s “infrastructure first” economy is in dire need of transformation to a consumer-driven model.
A couple of days into January, China’s market nosedived 7 percent overnight, sending shock waves throughout global markets. The following day the Dow dropped nearly 400 points, the S & P slipped nearly 2.5 percent and the Nasdaq 3 percent.
In all, CNN Money reported:
“The wave of selling has knocked the Dow down 911 points, or more than 5% so far this year. That’s the worst four-day percentage loss to start a year on record, according to FactSet stats that go back to 1897. The Nasdaq, down over 6% in 2016, is off to its bleakest start since 2000.”
“Investors have started the new year in panic mode,” commented Ed Yardeni, president of investment advisory Yardeni Research.
“This has all the earmarks of the beginning of a significant stock market correction. Many would argue it’s the beginning of a bear market,” Tim Anderson, managing director of MND Partners, said in a note to clients.
The Rest…HERE
