In Canada, relying solely on the CPP for retirement is...
Read MoreInsight
Black Monday: U.S. Stock Market Crash
On Monday, August 5, 2024, the U.S. stock market plummeted. The Dow dropped over 1,000 points, the S&P fell over 200 points, and the Nasdaq declined over 800 points, with a drop of more than 4%. The VIX surged to 59.94% due to panic over the July unemployment rate, which rose from 3.6% to 4.3%, up from 4% in June, sparking fears of an imminent economic crisis.
Despite the rise in unemployment to 4.3%, it remains well below the average of 5.69%. Recent rate hikes aim to stabilize an overheated economy, aligning with the Federal Reserve’s goals. Current data suggests the market is improving, cooling but not in crisis. Unemployment would need to exceed 5.69% to signal a recession. Market corrections are part of the Fed’s strategy to prepare for future growth.
Why is this positive data seen as negative?
It’s due to market adjustments, which aim to clear out speculative investors. Long-term investing focuses on staying resilient through market fluctuations to achieve success.
The question now is: Do you want to be a quitter or a winner?
You may also interested in
Black Monday: U.S. Stock Market Crash | AiF insight
US Stock Market crashes on Black Monday, fueling fears of...
Read MoreCanadian pension system: Crisis and Solution
At the end of March, the Canada Pension Plan (CPP)...
Read MoreMissing out is the real risk | AiF insight
The Dow Jones Index has surged another 500 points. Daily...
Read MoreThis is the real opportunity to make money! | AiF insight
There's a saying: Even pigs can fly in a hurricane....
Read More