National Spotlight: ‘Number of the Beast’ drop in market not a true correction
For those who have been riding high for the past couple of years on a market that is handing out double-digit gains to investors and 401k holders alike, Friday’s drop that resembled the number of the Beast was a mere 2.6 percent of the market, not nearly large enough to be considered a correction.
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It was the exclamation mark to a lousy week in the stock market — a 666-point drop Friday that could scare many investors and prompt them to reassess their portfolios, according to a story at usatoday.com.
But let’s get real.
A blizzard of stories and commentaries warned that a correction, or 10% drop, was not only overdue, but normal and just a matter of time. Even as the Dow Jones industrial average broke through the 25,000 barrier and galloped past 26,000, the market refused to break stride.
To read the complete story click here.
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