Wall Street and then Stock Exchanges around the world had a big sell-off, presumably because US wages have had their best rise in 9 years – since before President Obama. It’s an invidious form of reasoning to think that wage rises after such a huge period of stagnation should damn their economy, however the fact is that markets go up, markets go down, but if you’ve been around longer than a year or two, you know that the overall trend will be up.
Hilariously, Australian market analyst, Ben Le Brun from Charles Swab, said to the media that “It is an actual bloodbath.” I don’t think that means what he thinks it means.
Some people made some good money selling off, some others made money buying at a bargain that hasn’t been around for a little while. The same may happen for the next couple of days. That’s the way the market works.
Nothing to panic about. Nothing to really see here, unless you’re a market analyst who believes blood is now pooling in his bathtub.
© 2018. Peter J. McLean www.petermclean.co