The Dow closed at a loss of 678 points. The pain may have just started. While the markets continue to correct based on the days trading 401K’s and other retirement accounts continue to shrink. People are fearful. When will it stop?
Jim Cramer of Mad Money on CNBC has advised on The Today Show and Hardball with Chris Matthews that if someone needs their money within 5 years to find a way to move to cash and do it right now. If you find yourself suddenly watching the market it may be good advice.
The satirical Economist cover may be an exaggeration but not by a helluva lot.