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Local News

Bad Day in the Stock Market


Stocks dropped more than 500 points today. It was the biggest one day drop since 2008. The markets are reacting to weak job numbers and still high unemployment claims.   Bend financial advisor Bill Valentine says the market opened down and got worse: “Clearly we're lowering our expectations from reasonable growth to sub-par growth and its still to be seen whether we'll be in full blown contraction. The fact the unemployment remains so far this far into the economic recovery is very rare. We should be knocking off a percentage point every year and we're simply not doing that.” Over the last ten days, the dow has experienced the worst losing streak for stocks since 2008.

 

 

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