While I may not have anticipated dropping below sixth place yesterday, today I embrace both my seventh place standing and the certainty that I will never be a stockbroker.
The instability of my personal stocks is, naturally, a reflection of the market at-large. More so than the past two days, today demonstrated just how volatile the market can be as the DJI fell nearly 200 points before rebounding to end just over 6 points down. Such volatility comes with what I consider a logical explanation; instability in European markets.
Early in the day, speculation circulated that Europe's financial crisis would spread to other world markets. Financial instability in Greece especially prompted these fears, as doubts that it would remain on the Euro solidified. Like a self-fulfilling prophecy, these fears promptly caused a drop in stocks across the globe.
Fortunately, after spending nearly half the day plummeting, stocks values began to rise. Likely, news that leaders of France and Italy had loosely constructed plans to use region-wide bonds to bolster Europe's financial system reassured investors, buttressing the market.
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