Did Investors Mistreat CoreCivic Midweek?

Wednesday's bloodbath was the worst day for markets since the Trump rally began following the November election. However, I again watched and listened in disgust as the talking heads, in their usual "bearer of bad news" delight, proclaimed it all but a disaster. The S&P 500 fell 1.8% on the day -- not comforting to investors given yet another round of political uncertainty, but it was just the second time year to date that the S&P 500 has been down more than 1%. That low level of market volatility is surprising.

The thing that got investors' goats, and what the media played to the hilt, was the Dow's 373-point drop. Boy, that sounds like a huge move, not all that far off from Black Monday's 508-point drop in 1987. That is, until you look at the denominator; the Black Monday Dow closed at 1728, while it closed at 20607 on "Weird Wednesday" -- a 22.6% drop versus a 1.8% decline....275 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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