Dear readers, just a few days ago, I expressed my views on this blog that a stock markets correction is poised to hit stock markets. Earlier this month, I reminded readers of the saying “Sell in May and Go Away.” So here in mid-May, here we go, with the US stock markets registering noteworthy declines in recent trading sessions.
Yesterday’s US trading session had the three US stock indices moving significantly lower as follows:
Dow Jones: -1.99%
S&P 500: -2.14%
NASDAQ Composite: -2.67%
Dow Jones and S&P 500 actually posted their steepest three-day declines in nearly seven months!
The recent sell-off in stocks was due to sharp rise in consumer prices that heightened concerns about inflation which may in turn prompt the Federal Reserve to expedite its scaling back of its easy-money policies.
I am of the view that we have not seen the worst to come for global stocks. Be prepared to take advantage of the stock markets at its lowest!
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