The Big Slide!
Today on Wall Street the Dow Jones industrials went down 733 points, which was the second-largest point loss ever. On Monday the Dow went straight up by 936 points, and now right back where we started. I really can’t take this roller coaster ride anymore, all this up and down. I read earlier that a lot of investors are stepping back from the stock market, because they’re convinced we’re in a recession. The main reason for the Dow Jones industrials had a big selloff today was because of last month’s retail sales report. I find it very hard to believe that they didn’t expect this report to be so bad. With people losing their jobs across the country things are only going to get worse. Hopefully the Fed can get this $250 billion plan to buy bank stock started soon. If there’s another bad report that comes out tomorrow the stocks around the world will drop. And if that happens we will have another huge selloff. If the Dow Jones industrial’s loses another 20% in market value, we will be in a recession.