CNNFN writes article about Dow is now down 1,451 points this year:
by Matt Egan @mattmegan5 February 12, 2016: 4:39 PM ET
Are stocks a bargain right now?
Are stocks a bargain right now?
You might want to sit down before checking on your investment portfolio.
2016 hasn’t been kind to people with money in the stock market. The
Dow is now down 1,451 points this year, while the S&P 500 is
off 9% and remains near two-year lows. The Nasdaq is flirting
with a bear market and the global stock market is already there.
“Sentiment is quite negative and investors are losing patience with the
ineffectiveness of central banks to create any meaningful growth,” said
David Lafferty, chief market strategist at Natixis Global Asset
Management.
U.S. stocks took a break from the losses on Friday. The Dow closed 314
points higher, while the S&P 500 gained nearly 2%. It was the stock
market’s second-best day of what’s otherwise been a dreary 2016.
Wall Street’s better mood was fueled by an incredible 12% surge for
oil prices and a big rebound for banks, easing the market’s two biggest
headaches of late. The bounce was also driven by a sense that the
recent selling may be overdone.
“We do not believe the S&P 500 sinks into a bear market,” said Sean
Lynch, co-head global equity strategy for Wells Fargo Investment
Institute. “The fundamentals would have to deteriorate further in order
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