Well, I guess it’s time for a “recap” of the “week that was.” I have previously recapped the following financial “points in time” for my and my readers’ edification. Enjoy the “looking glass” view if you wish:
• Recap of September, 2015 U.S. stock market
• Market recap for week of January 8, 2016
Or, continue to the next paragraph for this week’s catalytic effects on the financial markets. Here’s my candidates “naughty actors” that contributed to the downward drop or behavior of the “DOW” (Dow Jones Industrial Average)
• The Hanjin container ships marooned at sea drama Hanjin. Also see my blog item: Ghost Ship
• Fear of a Fed interest rate increase Federal Reserve Rate Increase?
• “Bad” behavior of Wells Fargo Bank Banks behaving Badly
• North Korea “flexing” their military muscles North Korea
• End of the U.S. Federal Reserve Bank of Kansas City’s financial conference at Jackson Hole Federal Reserve at Jackson Hole. Here’s another blog item I wrote regarding the conference Woodstock for Economists.
and, just for a “light” bit of humor:
• It was only a 4-day work week in the U.S.
I have read and heard on the news recently that the months of September and October are “tricky” or perhaps a better word is “dangerous” months for the “markets.” Well, who am I to argue with that, the 1929 stock market crash happened in October of 1929, the 1987 crash happened in August, 1987 (close enough to September for me). (Incidentally, I was watching a financial TV program the day of the “’87” crash, and yes, I can remember where I was and who was with me at that time.) I lost a couple of “bucks” in the Dot Com crash in 2001. Next came the housing bubble in 2009, seems to me that I starting hearing about “housing” credit problems in the summer of 2008 but anyway, I do know that there was no snow on the ground when the dominoes started to fall.
So, that’s my list of reasons for the U.S. stock market “readjusting” itself today and closing down around 2% or so.