Anybody else worried about this? Especially since oil companies seem to be among those hardest hit?
Manufacturing group 3M is the biggest faller on the Dow right now, down 5.5%
Oil firms Exxon and Chevron are close behind.
https://www.theguardian.com/business/live/2018/feb/05/stock-markets-slide-global-sell-off-service-sector-bitcoin-business-live
The sky is falling.
Turn off the television. Everything on there is doom and gloom and hyperbole; overly exaggerated. It is just that - a response to the rise in interest rates. The Dow has increased 5000 points in a matter of only several months (compared to several years in times past) so who in their right mind thought this trend could continue? Honeywell is stressful enough as it is without worrying about every little mile-a-minute news story.
Take a look at the correlation between money supply and the S&P 500 and then let the realization set in that the US is on the path for more & more frequent rate hikes and the BOE just indicated they are set to do the same thing. Global liquidity declining means asset prices declining.
So what should you do? Sell your stocks and buy a productive business that serves a recession resistant market niche OR keep working for Honeywell and buy HON stock as fast as possible with both fists (aka bury head in sand).
reaction towards revision of interest rates.
Not worried at all. a correction. Interest rates were raised to cool the economy a bit so i'm not surprised. people are blaming "the memo"......its not the memo.
MOABO: Mother of all buying opportunities.
Not really. I'd like to think we all knew the spike we've been seeing was not sustainable, and a correction was imminent. The current drop (as of this typing) doesn't technically fall into 'correction' levels* but it's close enough for me to call it that.
Anyway, I'm not crazy about it, but I'm not worried about it.
Yet.
*Correction by WS definition is when the market overall drops 10% or more. This drop is 8.5.