Where Has My Little DOW Gone?
Oh where, oh where, has my little DOW gone? The Dow Jones Industrials Average ($INDU) sold off 1,014 points, from its April 2010 top through the June bottom; this took 6 weeks. It has now sold off (as of this morning) 1,053 points in a couple of weeks, measuring from the July top to this morning’s bottom. Sure, part of the recent selloff was a reaction to the prospect of U.S. default or downgrade of U.S. debt, and no doubt a signalling of market displeasure to Washington. Politics seem to be driving markets more now than economic factors. [More...]
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