As much of the world’s media freaks out over how the stock markets plummeted on Thursday and Friday, I’d like to draw attention to these two paragraphs buried in this Reuters report:
Despite the market’s slide on Thursday and Friday, all three major U.S. stock indexes ended this volatile week higher: The Dow Jones industrial average gained 0.4 percent, the Standard & Poor’s 500 index advanced 1.4 percent and the Nasdaq composite index rose 1.3 percent.
For the year so far, stocks are still in positive territory. The Dow is up 6.2 percent, while the S&P 500 is up 2.5 percent and the Nasdaq is up 5.4 percent.
So, despite some markets suffering their worst one-day fall in four years, it seems all may not be as bleak as it appears. That said we’ll only know on Monday if the drop looks to be bottoming out or if there’s more bad news to come.by