Dear readers, the US stocks markets plunged yesterday with a magnitude that were rarely seen before.
Nasdaq composite dropped 4.61% and both Dow Jones and S&P 500 each went south by 4.42%. It was the worst one-day point drop in history for Dow Jones and the worst day for the S&P 500 since the 2008 financial crisis.
Looking at the corrections of the US stocks markets, I am not surprised since all the macro factors were already pointing to a stock markets correction globally.
The investing community who keeps saying that the markets are already long overdue for a stock market correction may also be fulfilling a self-fulfilling prophecy.
As shared in previous posts, I expect the Singapore stocks markets to correct to 2,800 to 2,900 level for the Straits Times Index. Singapore’s stock markets being a price taker should see the decline to the aforementioned level quickly should the US stocks markets continue to head south.
At this juncture, investors may wish to heed Warren Buffet’s advice: “Be Greedy when others are fearful (“BGWOAF”)”. I believe it is really some time before stocks markets reach bottom, hence so my advice is for all to be “greedy” at the right time!
That’s it for my insights today. I Thank you once again for your support of SG STOCKS INVESTING, your Money and Lifestyle magazine! I also run another blog Singapore Stocks Investing with similar useful insights! Connect with me here to follow the daily exciting and useful posts on these two blogs, Thank You for your support!
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