Economy Is Toast--No Recovery From Stock Market Crash--[Picture, 2 excellent Videos]
Last week, the Dow Jones Industrial Average fell more than 1,000 points, its worst weekly performance in approximately four years. On Monday, the index plunged by over 1,000 points early – and closed the day down 588 points. In terms of the number of points lost, Monday August 24th, 2015 was the eighth-worst single-day loss in the index’s history.
A third of S&P 500 companies have declined over 20% from their peaks and many retain high valuations despite disappointing earnings numbers. The United States Dollar Index dropped the most it has in over 5 months today to seven month lows – losing against the Euro and Yen. Oil prices plunged, with the U.S. oil benchmark settling down 5.5% at $38.24 a barrel, its first close below $40 a barrel since February 2009.
Some analysis are blaming the China currency devaluation and the drop in the Shanghai Stock Exchange Composite Index – but what is really going on? Facebook
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