Markets sell off as fears rise that a world wide recession nears

Posted By on September 22, 2011

It is a painful day today on the financial markets as all “indicators” show heavy selling on Wall Street and even in the precious metals markets – not much optimism. It is difficult to watch as people who try to save for a home, for college or retirement, see their assets shed large chunks of value … in just two days we’ve seen losses mount to near double digit percentages (two day Dow chart below).

dowhem110922

As I stop working to watch the closing of the markets today (3:30 PM EST), the Dow is down over 500 points; we’re near “panic” selling. Some … very few … are suggesting this is time to pick up some bargain basement priced companies. Let’s hope there is some closing comeback.

EDIT: After receiving a couple emails about my repeating the media’s use of the word “depression,” I’ve opted to switch to the less “fear” triggering word “recession” in the subject line.

Comments

Desultory - des-uhl-tawr-ee, -tohr-ee

  1. lacking in consistency, constancy, or visible order, disconnected; fitful: desultory conversation.
  2. digressing from or unconnected with the main subject; random: a desultory remark.
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