Yeesh. Lets go to Yahoo Finance.
The stock market plunged the most since the crash of 1987 as disappointing retail sales data and credit concernsrenewed economic fears. Specifically, the S&P 500 plunged 9.0%, settling near session lows.
Consumers continue to curtail spending in the face of economic headwinds. Retail sales in September tumbled 1.2% month-over-month, the third consecutive monthly drop and largest decline in three years. The decrease was larger than the expected drop of 0.7%. Sales are down 1.0% compared to last year, marking the first year-over-year decline since October 2002.
- "Specifically." LMAO. Yeah. Well. Yeesh.
- Hey, I'm using Clipmarks and Twitter more these days. You can follow via the links on the sidebar there. To your right. See 'em? Yeah, those!
- Well, since I did some tax loss rotations a couple of weeks ago, I've built up some more tax losses. LOL. I also have a few winners in the mix, though. Bought some of the banks before the announcement that the government was going to buy shares. That helped.
- I'm looking for "bargains" that I believe will be up a few years down the road, and also "bargains" in that mix that pay hefty dividend yields. But don't want to go crazy there because dividends can be cut in this type of environment.
- Smoking. Drinking. The vices of life. Maybe those are somewhat recession proof. Heck, I feel like getting drunk now myself.
- Speaking of drunk, anyone watch The Cleaner season finale last night? I kind of like it. But I'm Grace Park biased I think. "Akani, put some pants on." Anyways, the finale story featured some drinkers. Probably down 40%+ in the markets and turning to the bottle.