The month of August sure has started off with a bang. Tech stocks are crashing, oil is crashing, industrial commodities are crashing, Greek stocks crashed the moment that the Greek stock market reopened for trading, and Chinese stocks continue to crash. At this point we have not seen a broad crash of U.S. stocks yet, but it is important to note that the Dow is already down more than 700 points from the peak in May. If it continues to slide like it has in recent days, it won’t be too long before we will officially reach “correction” territory. Just a few days ago, I described August as a “pivotal month“, and so far that is indeed turning out to be the case.
A full-blown financial crisis has not erupted yet, but we are well on the way. In this article, I want to look at a few of the “crashes” that are already happening.
APPLE INC.
This is more of a “correction” than a “crash”, but it is very noteworthy because it is happening to one of the most important U.S. stocks of all Apple Inc. (NASDAQ:AAPL). The price of Apple stock has already broken through the 200 day moving average, and at this point it is down nearly 11 percent from the peak.
Shares of Apple are down 10.9% from their highest point in a year — which places the stock squarely in what’s considered to be a correction. The unofficial definition of a correction is a 10% or greater drop from a recent high. Shares of Apple hit a 52-week (and all-time) high on $134.54 on April 28.
TWITTER INC
If you want to see a real crash, just look at what is happening to Twitter Inc (NYSE:TWTR). The stock was down close to 6 percent on Monday, and overall it has fallen 58 percent since early last year. The price of Twitter stock has never been lower than it is right now, and many investors are very apprehensive about what comes next.
Twitter shares hit a record low on Monday, closing down nearly 6% to $29.27.
to read more go to link at top of page.....
Comments
Again I was surprised as everytime a new iPhone comes out, there are lines and lines of people waiting to get the first one. Thought they were doing better than that. Any how , their iMacs are a little pricey compared to other computers.
Yes it is bad. My brother got laid off after being with a company for 20 years. He was shocked. Reason for lay off and probably no call back depending on if work picks up is due to lack of work. They cut out the higher paid ones first. At least he has skills he can work temporary contracts (doing one now he is not happy about but better than nothing). My cousin in OC MD has just lost her home to foreclosure due to not having enough hours at her job to make ends meet (this has been like this since the crash of 08). She is looking for an apartment.
Some how in my area, people with money are buying up all the cheap foreclosures, and flipping them for more...
KIM The real fact is that the world is in trouble and the stock market is not the true indicator of the problem because it is being manipulated. What is important is the Baltic dry index and it shows what products are flowing around the world and it is really bad. Next you have to figure in retail sales and they are terrible. Then you have to consider unemployment and that figure is being skewed by part time employment, thanks to Obamacare. The food banks are being overwhelmed and giving out less along with food stamps at an all time high. My neighbor is a long haul trucker and just got layed off and there are no jobs after years of too much work there is little. Corporations plan ahead for the future and the layoffs that have been on going for a couple years keep going on. Obama and his handlers have fundamentally changed America and the other countries of the world. If you ask how china is also in trouble, just consider having the biggest supply of goods in the world and few countries have enough money to buy them. When your inventory is too high and no body shows up to buy it you go bankrupt. We have come to a point that people are only buying what they have to and the extras are forgotten. I went to a couple garage sales, multiple family and saw these people were selling things most people would keep just for money and I felt sorry for them. I was only looking for things that would get me through the impending collapse and I had little to spend and felt bad for not being able to help them. Garage sales have been fun in my life but this time they broke my heart.