Market Crashes! Doom! Market Back! We’re Saved!
I got a CNN breaking news alert a few minutes ago informing me that the Dow had dropped more than 500 points in the opening minutes of trading. It has already recovered:
Stocks staged a huge turnaround Friday morning, with the Dow erasing most of a 700-point slide as fears of a global recession were countered by a willingness of some traders to step in at five-year lows.
The Dow Jones industrial average (INDU) was down 40 points in the early going after having fallen nearly 700 points. The Standard & Poor’s 500 (SPX) index was down modestly and the Nasdaq composite (COMP) rose.
I’d advise holding off jumping from tall buildings for the nonce.