Dow down 500. Bad news for us?

This is probably nothing more than a correction. Corrections are necessary every once in awhile to shake out the weak hands. The Chinese stock market was way overdue for a pullback. Didn't it rise over 100% last year?

I remember how awful 2002 was when the stock market seemed to go down every day.

https://www.foxnews.com/story/0,2933,254905,00.html

More 'good' news from asia.. Markets've already opened bigtime in the red. Nikkei and Shangai have dipped almost 4%. and news channels are blaring that fears of recession in china and us economies have triggered the slide. Well, the indian markets are yet to open and i'll not be surprised if they fare badly since they've already been dipping lots for the past 2 days!!

Greeeaaaaaaaaaat....

Watch me loose another $7,000 tomorrow.

Short sightedness is right... Dow drops 3% and you guys are all gonna jump out the window?

It seem like a recession in China is unlikely...especially since all their economic data is manipulated/phony anyway...

I take Tuesdays off and work 4 10s as I have CFA L2 class on Tuesdays... but I imagine work tomorrow will be something... hundreds of customers on the phone... "sell my stocks now, hurry up before the market drops anymore!"

Mexico went 5.8% down, Brazil 6.63% yesterday.

Right now FTSE is -1.4%, DAX -1.45%. The 10y treasury dipped during the asian market at 4.55%. Some important US economic numbers will be released today and tomorrow and it seems that lots of folks are going to get hurt.

We were/are due for a pull back here in America, but what really worries me is China. Their government leaders and business leaders aren't exactly choir boys and girls, so if they are ever forced to come clean, the global economy will be in trouble. Can we keep the "see no evil, hear no evil, speak no evil" approach in China for another decade so we (gmatclubbers) can accomplish a few things? Thanks

By the way, I did not mean to offend any of our Chinese members with those comments.

Shanghai market closed higher. DJ is looking good at the start.

More good years!!!

I pulled most of my stuff out 2 weeks ago and put it in my bank account @ 5% int, then put the rest into a large cap and kept 500 shares of a risky biotech due for FDA approval/denial by May.

I am sure my funds will take a hit and my 401k will lose a little but I was covered for the most part.

Ugly day.

I remember 9/11 clearly. I was heavily invested in the Philippine market. When it tanked, I lost more than 10% of my portfolio on that day. I didn't panic, I just stayed the course and recouped my losses in a few months.

Good thing I was taking the risk-averse position prior to the market drop this time. I thought the Phil. market was overbought. 50% of my portfolio was in cash on 28 Feb. The Phil. market dropped the most in Asia, dropping by 263 points or 7.9% on 28 February.

I took the opportunity yesterday and today to acquire stocks that I had previously unable to acquire because I thought their prices were too high. I already saw a correction coming given that the Phil. market had risen 42% last year and another 11% before Feb. 27. The fundamentals of Phil. companies were basically the same in 2006 and right now. It's only that a number of foreign funds are pouring liquidity into our market.

I don't think there's a fundamental economic reason for the market correction worldwide. We're still awash in liquidity given the low interest rate environment.

My call: It's just a hiccup. Things will stabilize. Good time to buy selected issues.

BTW, the Phil. market bounced back by 122 points or 4% the next day, 1 March 2007.