Wall Street is bracing for another stock stampede today. Last week’s quake in the Nasdaq and the Dow Jones which cost investors 2 trillion dollars has spooked this red hot market.
The question for the crystal ball is – is it a healthy correction to an irrational, volatile economy or the beginning of the end of the longest bull market in history? Lots of Silicon Valley tycoons woke up this weekend with worthless stock options and the sudden realization that they can’t retire before they turn 30.
And millions of other Americans who play the stock market game lost a healthy chunk of change too. The remarkable thing about this market for months now has been that every stumble turns into a surge. So with record prosperity, a growing work force and a technological revolution in the works, will a new nervousness on Wall Street spark a wave of bargain hunting, a rash or fence sitting or worse?
Pre-Panic on Wall Street – in this hour.
(Hosted by Christopher Lydon)
Guests: