Happy New Year! Or is it?
Is the U.S. stock market like the movie King Kong (circa 1933) or perhaps more like the movie Wall Street ? Is the gorilla the International marketplace and “the girl” Fay Wray the U.S. marketplace or maybe King Kong is Wall Street and Fay Wray is the American consumer; or how about “party time” as depicted in the movie The Wolf of Wall Street?
Any way you look at it, it has turned out to be a very scary week on Wall Street in the U.S. I guess the slowdown of China’s economy, being the second largest economy in the world after the United States, has caused much more chaos than anyone bargained for in our global economic universe.
Here are some links to help you “wrap your head” around just what’s happening “this time”!
Graph of 10 largest economies: CNN.com World’s Largest Economies
Wall Street Journal: Bad Week for U.S. stocks dims outlook
New York Times: Stock Market Ends Its Worst Week Since 2011
Did the teeter totter flip both “riders” into the air at the same time? It would seem so. Here’s my reference to the U.S. market as a teeter totter:
P.S. Let’s be optimistic and say “Yes, it’s a Happy New Year.”