What a way to start 2016…
In the early hours of the first day back, the Dow plunged 450 points. The last time the markets saw an opening day this bad was 1932 when the Dow sank 8.1%.
While there’s hope the rest of the year will go off without a hitch, we must still contend with falling oil prices, and China where weak manufacturing data halted trading, as PMI fell to 48.2 from 48.6 – its fifth month of contraction.
Any number below 50 signals a slowdown in the factory sector.
Investors are also dumping shares ahead of Friday’s expiration of a six-month sales ban on major shareholders with more than a five percent stake.
While the year isn’t starting off so hot, don’t panic… There are still pockets of strength in the market. With the right strategy and focus, you’ll do just fine.
Happy New Year…