The stock market has had a long run that actually started shortly after the financial crisis and rose from pretty bleak numbers to record after record highs.
We seem to have hit a speed bump.
The thing about stocks is that they aren't simply based on the facts, they rely upon human emotion.
People react to what they see and make decisions.
Most people react in very similar ways, so once selling starts it becomes a bit contagious.
Remember its a lot easier to sell than it is to buy, you don't have to have any money first.
Each day of losses inspires more sellers and therefore more losses and more sellers, etc. etc.
It will of course stop.
When depends once again on sentiment and we may see short term plateaus as buyers test the market.
Once it actually bottoms we should see a period of continued growth, but it may take a long time to return to its prior levels.
Its a story as old as time.
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