Stocks Slide!
Wall Street is catching right up with the rest of the world’s stock markets. In other parts of the world stock markets are way down. In China there stock market is down 56% for the year. If we stay on the course we’re on we’ll be in the same boat. This is almost unbelievable what is going on. Our markets show a little sign of relief, and then out of nowhere it drops like a bad habit. The drop in the market is do to unemployment going up and poor reports from retailers. It seems that people are holding back their spending for back to school supplies. Based on these reports the Dow took a huge drop right out of the starting gates. Investors are pulling back until signs of the economy turn, which could be awhile. Things need to get better very soon or we’re all going to be in trouble.
