Friday/ the Dow is down 2.5%

Well, the week ended with the US stock market sharply down, spooked (so the experts say) by fears of interest rate hikes by the Fed.  The January jobs report had revealed that hourly wages jumped 2.9% year-over-year.  There might be more pain ahead : the technicians say it’s about 5% further down, to get back to the S&P 500’s long-term trendline.


600 points these days only count for about 2.5% (of Dow 26,186). It’s sobering to look back at June 2016 and see the Dow was only at 18,000 then, before dropping 3.4% to 17,400.  And 2008 had three days with over 7% drops on a depressed index in the mid 8000s. Yikes. [Table from]

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