MORRIS: Don’t panic about market’s fluctuations
By Kyra Morris | Ten days ago on Augst 21, the DOW fell more than 500 points. Then on Monday, August 24, the DOW fell again another 500 points. By Tuesday, August 25, it looked like the DOW was on an upswing, but then in the last hour of the day it fell and closed again down more than 200 points. Whoa! Then … here comes Wednesday and Thursday with a rebound that was one of the best two-day percentage gains in more than six years. What’s happening and what will be next?
Most financial professionals doubt that this will be a repeat of the 53 percent drop experienced from October 2007 until March 2009. Why – what’s the big difference? The lack of a real negative economic event like we had back then makes this different.
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