Wednesday, August 24, 2016

The Dow Dropped 1,089 Points

If I didn't mention it I bet most of you would have forgotten last year the Dow dropped 1,089 points exactly 1 year ago.

On August 23rd the Dow closed at 16,459. The following day on August 24th the Dow traded as low as 15,370. That's a 6.6% drop
in less than 24 hours. That's usually enough to shake most people out of their holdings. It's also a chief reason why people think investing is akin to gambling. As you can see the drops are usually swift and fast, and trek back up isn't always snappy. Of course markets have a way of shaking things off. The Dow currently trades 20.3% higher from it's August 24th low.
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We even had a few large drops since then. Including the recent Brexit drop when the Dow tumbled 655 points from one day to the next. The risk back up was much quicker this time.

See? The bargains don't always last very long.

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