1 Answers: Dow stocks have lost 600 billion in value today . is this a good economy ?
One day is not a reflection on an entire economy.
The Dow closed at 19,800 on Donald Trump’s first full day as president when the market was open. As I write this, it’s at 24,475. That’s a 23.6% increase in less than two years.
The all-time high of 26,828 occurred only nine weeks ago on October 3rd. It is now off by 9% since then.
That is what we call a market correction. The market was up more than 30% since Trump took office. In less than two years. That much of a rise that quickly was not really justified and a drop back down to just under 20,000 will not be justified. That’s not to say it can’t or won’t happen, just that if it does, it won’t be because the economy is actually terrible. The economy is still good – though I don’t believe it was as good as those who irrationally drove the Dow up so far, so fast, believed it was.