Tuesday, October 14, 2014

2008 Redux? S&P falls below 1900 with Dow losing nearly 1000 in last 30 days

While a decline of 1000 points in a market that recently resided at new all-time highs is not a complete cause for alarm, when coupled with massive declines in Europe, Japan, and a wave of global deflation fears, we suddenly find that the table is set for a repeat of the great stock market crash of 2008.
As trading forges towards a close on Oct. 13, the Dow has now lost more than 800 points since Sept. 23, and the S&P has now fallen below 1900 for the first time since early August.  In both Europe and Japan too, levels on their stock markets have been in steady decline, with the Nikkei unable to hold key technical support at 15000 despite Bank of Japan intervention just last night.


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