The stock market is in the midst of a major downturn, and some suggest it may be a sign of a pending market crash. Via USA Today:
The stock market rout is starting to get really expensive – destroying $2.3 trillion from the market’s top last year and $1.5 trillion in net wealth just this year.
The giant companies that predominantly populate the Standard & Poor’s 500 have fallen an average of 9.2% this year – which when translated into dollars – is real money. Real big money. The S&P 500 is down 8.1% this year already – including another 2.3% Friday – in what’s been one of the worst starts to a year ever. Since the market peak on May 21, 2015, the market has declined 11.9%.
Two days ago, the Royal Bank of Scotland advised investors to sell ahead of a “cataclysmic 2016.”
A stock market crash would be the rotten cherry on top of a horrible eight years under Barack Hussein Obama.
AAN Staff
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