U.S. Stocks Fall Badly

Today U.S. Stocks fall very badly. I heard the news from my financial mentor through his bi-monthly update newsletter. For most people this is bad especially if you live in the US.

According to bloomberg.com, this is the worst slump since March 2009.

U.S. stocks plunged, driving the Standard & Poor’s 500 Index to the biggest nine-day decline since the equity bull market began in March 2009, as concern the global economy is weakening intensified.


All 10 groups in the S&P 500 slumped at least 1.8 percent, led by losses in energy, raw-material and industrial shares. Chevron Corp. (CVX), Alcoa Inc. (AA) and Freeport-McMoRan Copper & Gold Inc. (FCX) dropped more than 4.7 percent as commodities slumped after Japan intervened in foreign-exchange markets to weaken its currency. Gap Inc. (GPS), the largest U.S. apparel chain, retreated 12 percent as July sales missed analysts’ estimates.

But this time I believe Asia will strive because these countries are known for resiliency. Rejoice everyone have a good weekend.