The Fed has cut two key interest rates by three-quarters of a percent to 3.5% this morning, before the market opens.
Oh, this is going to be a very bad day. I have a feeling my Story Bone this morning was prescient. The global markets have been going down the past two days.
This one might hurt. Everybody hang on to something. When the roller-coaster is going down, the best thing to do is scream and enjoy the ride.
Edit 10:55am DJI opened at 400+ down, has recovered somewhat to only being down 266 points (about 2.2%). I don't know about volume. Everybody glad we didn't shift our Social Security funds to the stock market? Bueller? Bueller?
Edit 2:10pm DJI is hanging below -100 points, so it looks like the rate cut had the desired effect. A bad day, but not very bad. I still haven't seen reports on volume (which for the past three weeks had been heavy).
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