It was a Monday on 6 October 2008 and Wall Street fell into panic selling again. During midday, Dow Jones Industrial Average Index, DJI fell to 458.45 or 4.44 percent after joining the world to a gobal sell-down or people in some quarters termed it as global financial melt-down.
Amidst all the panic, attention turned to Europe as FTSE 100 fell to the lowest level in four years after falling to as much as 8.65 percent before bouncing back a little to closed falling by 5.77 percent.
As DJI had hit below 10,000 points, light sweet crude fell further below $90 which marked that this financial turmoil seems to be going on for awhile. Despite efforts of the Feds trying their very best to save this situation, investors’ confidence just got weaker and weaker by the day. GE dropped to its 11-year low.
Well, as what I can see, this is a very good opportunity to buy some stocks for keep as the prices are at the most attractive level ever. When economy started to pick up after many efforts by both Europe and US government in bid to save market, stocks will regain its glow very soon. The current market had too much panic and fear factored into the share prices.
The above are of personal opinion and not at all an inducement to trade.