Tuesday, February 27, 2007

How To Lose $600 Billion In One Day

The massive international stock market losses that started in China and spread like the flu throughout other world markets including a 416 point drop in the U.S. are indeed a significant event. Investors, including those hoping to save for a retirement fund and have money in mutual funds lost an estimated stock equity value of $600 billion dollars today.

It was not that long ago that President Bush was promoting a plan to invest part of the Social Security funds in the stock market. After a day like today, wacky ideas like this should be even harder to promote.

The first new market open today was in New Zealand. It was also down. But hopefully international markets will recover very soon. Losing investment money and having your stock value decline is certainly a depressing thing.


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