It just might be a fire. Earlier on AdvisorNews, we published analysis on whether Wednesday’s Dow Jones Industrial Average plummet of more than 800 points was a false alarm or an actual three-alarm fire.
Well, Thursday started promising …. By afternoon, though, it was pretty clear that not only was it a fire, but we also might need to pull a fourth alarm.
The Dow fell another 546 points, 2.1 percent, to 25053, with tech leading the dive as the sector had on Wednesday. On Thursday, all 11 of the S&P 500’s sectors were dropping. Blame is falling on anxiety about slowing global growth, rising bond yields and the prospect of seeing inflation rear its scary head.
October is the traditional month of bloody losses before Halloween. Will an scary Friday lead to a terrifying Monday? Tune in tomorrow.
Steven A. Morelli is editor-in-chief for InsuranceNewsNet. He has more than 25 years of experience as a reporter and editor for newspapers, magazines and insurance periodicals. He was also vice president of communications for an insurance agents’ association. Steve can be reached at smorelli@insurancenewsnet.com.
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