An Opinion on How to Play the Market Todayby Tim Manni
A new wave of fear seized investors and trading floors around the world Friday, resulting in an across-the-board drop in stocks.
The Dow Jones Industrial Average was recently down 222.85 points, or 2.6%, at 8468.40. The S&P 500 slipped 2.7% to 883.66. All its sectors traded lower, led by, off 5.6%, and , off 3.8%. , a traditional investor haven, saw more modest losses and was down 1.7%.
The selling was prompted in part by signs that economies around the world are beginning to crack.
Be sure to read David Spurr ’s post (from Displaced EMA) from first thing this morning for his take on “how to play” the market today. He has also made some follow-up posts since then.