Most of the world has morning routines. Being a CPA, I suppose I may be a little more captive to mine. So, when I got to work this morning, I did what I always do; started my computer, brought up my e-mail, grabbed a cup of coffee and pulled up Yahoo Finance.
Not unlike most mornings, the top headline was negative, only this morning it was a bit alarming, “Total Global Meltdown: Is Oil to Blame?” I could see that the market numbers were red, but I hadn’t really looked to see how bad it was. Futures for the Dow, the S&P 500 and the Nasdaq were all off about 1%. I quickly checked European markets; sure enough, they were down between 1.5% and 2.0%. Certainly, it had not been a good day in Europe so far, and things are not going to get off to a good start in the U.S.. But a total global meltdown?
When I get sick with the stomach flu or a bad cold, I tend to be a little dramatic. Occasionally I’ll utter the words, “I feel like I’m dying,” or something like that. My wife just laughs at me and tells me to get a grip. We should respond to the media’s coverage of capital markets the same way.
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