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The Dow Falls 1,032 Points! Has The Financial Crisis Of 2018 Officially Arrived?
Prior to this week, the largest single day decline for the Dow Jones industrial average that we had ever seen was 777 points. That record was absolutely shattered on Monday when the Dow fell 1,175 points, and on Thursday the Dow dropped another 1,032 points. This was the third decline greater than 500 points within the last five trading days, and the Dow is poised to post its worst week since the dark days of October 2008. So is this just a "correction", or has the financial crisis of 2018 officially arrived?
At this point, many of the experts are pointing to the bond market as the primary reason why stock prices are crashing. The following comes from CNBC…
There's a not-so-quiet rebellion going on in the bond market, and it threatens to take 10-year yields above 3 percent much faster than expected just a few weeks ago.