The Modern Day Financial World In Review
The stock market of the last ten years has been a wild ride. Let’s take a few moments to reflect on just how crazy things have been during this time. This has been a very memorable decade as far as the financial markets are concerned.
Let’s take a look back to the beginning of the decade. Times were great in the financial world. In fact, the indexes hit all-time highs and there were aggressive gains in the markets almost every day.
It seemed like everyone was making a fortune in the stock market. Even taxi drivers were talking about their latest buys, and the mania had gone mainstream like it never had before. People were making more money in a few months’ time than they’d typically make over a matter of years.
Those who sold at the top are extremely fortunate, because few people saw the major correction coming. Everything tanked during the second half of the year 2000 and fortunes were lost just as quickly as they were made.
Within the span of a year and a half, things went from glory to gloom. The fall of 2001 was the low point of the market during the beginning of the decade, as some major declines took place after the terrorist attacks on our homeland. The state of the economy was very uncertain.
The roller coaster ride continued during the years that followed, as the DJIA broke new ground and set a high mark just five years later. It seemed as if the good times were back, though not as dramatically as the first time around.
It wasn’t just the stock market this time around. Many people chose to bet on oil prices, which hit highs of over $140 per barrel during 2008. People were quitting their jobs to trade forex currencies and the market hype was almost back to its old state.
Once again, the doom kicked back in and the markets hit their lowest points since the 1990s. Things have since rebounded a bit, but it makes you wonder where we might be headed next. Something tells me that wherever we go, it’ll be a wild ride
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