The Dow Jones drop was devasting to the whole stock market. Everyone was selling due to thoughts of overinflation and the lost of value of stocks left and right. But it did not start with Dow Jones, it started millions of miles away in China. The market initially fell in China when rumors stirred of the Chinese governments intentions of raising interest rates and reducing more of the money available for lending. This caused a stir and led to a 9% percent drop in the Chinese stock market. This caused chaos in America and led to 416 points drop at Dow Jones. This is the worst day of trading in the states since after the 9/11 terrorist attacks.
This left me highly frustrated with all the stocks I owned. My stocks were already in decline so this added insult to injury. Disheartened, I sold all my stocks I originally owned. I invested in cheaper stocks and small companies hoping to start with a clean slate.
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