Over the weekend, European and Asian stock market and now the U.S. Stock market joined in the world-wide market sell-off in response to Standard & Poor’s downgrading of the US debt rate, leaving investors around the globe anxious and scared about the performance of their investments.
Over 250 points is what the Dow Jones Industrial Average fell from Friday’s and over 375 by noon. Many Americans are logged into their Online Portfolio Manager. S&P announced Friday last week that it is credit rating for long-term U.S. government debt by one notch, from AAA, the highest rating, to AA+.
Personally I am not handy with Do It Yourself portfolio management and Portfolio rebalancing software. I always call my Portfolio Manager to help me re-balance my investments mostly my retirement account.
I really wish that this economic downturn will not cause too much havoc as they are already speaking of double recession on the news this morning.
It was also said that the house foreclosures will be on the rise again if a recession happens since most will loose their jobs therefore will have a hard time paying for their homes. I hope this wont happen to anybody I know should that time comes.
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