Whether or not Monday's stock market plunge is the beginning of the end of this rally is a matter of psychology, not necessarily data.
Investors were ready for some austerity Monday after gorging on a nearly straight-up run since mid-July. After the S&P 500 hit a six-year high last Wednesday, enough catalysts piled up to tip the scales, sending the S&P on its largest drop in over four months and the Dow Jones Industrial Average plummeting more than 150 points. But most of the excuses were psychological and not necessarily fundamental flaws for equities.
The dollar continued to break down, which rattled investors' nerves regarding the U.S. economy. The price of crude oil climbed, and bad news for Wal-Mart(WMT Quote) and Ford(F Quote) gave investors an excuse to take some profits. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,464.40 | 1,110.63 | 2,176.05 | 32.79 |
Oil *
77.05
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UP
30.69
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UP
4.98
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UP
6.87
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DOWN
0.38
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10 Yr
3.28%
SPDR Gold
116.62
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+0.29%
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+0.45%
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+0.32%
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-1.15%
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Data delayed 20 minutes |
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