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From a spectacular high of 9337.97 in mid-July, the Dow Jones Industrial Average has zigzagged its way down some 1500 points, closing at 7795.50 last Friday--a net drop that rivals the 1987 Black Monday crash of 20 percent...
...chief economist of Deutsche Bank, a German investment bank, has said the Dow will bottom out around 6500, while Abby Cohen, a prominent analyst for Goldman Sachs, is predicting a return to the 9300 plateau by the end of the year...
Moving away from finance puts distance between a job-seeker and Wall Street's unpredictability. Firms whose success is less tied to the market say the dance of the Dow isn't cause for alarm...
Look at Harnischfeger, and you can see the origins of the stock market's grinding 1,698-point decline, a loss of 8% from the July 17 peak of the Dow Jones industrial average at 9337.97. The company also offers a glimpse of what might come next, as American workers and investors like Dave Trench wonder whether the long boom is over. Should they pull their money out of stocks? Does the market slide foretell a recession? How is any of this bad news possible when the U.S. economy seems so strong, with the lowest unemployment, inflation and interest rates...
...think you had a tough week last week--and who didn't, with the Dow off 482 points?--you might perk up after a chat with Stanley Druckenmiller. A six-footer with deep-set eyes and a grin that creeps sideways across his face like a stock ticker, he has been labeled the world's brightest currency trader, an Einstein of the pits. Druckenmiller's paycheck is signed by George Soros, for whom he oversees $22 billion. Uh, make that a little less. Last week Druckenmiller watched helplessly as the Russian debt market vaporized into fiscal neutrinos, taking the last...