Obviously if it keeps going down, that’s bad. But it looks like it’s at a support level and still much, much higher than it was 5 years ago. (Using SP500 as a proxy for the market at large)
In: Economics
Many answers are just wrong. This is not a small retraction.
Over the past few months, a handful of stocks are pushing the SP500, mostly AI related. Nvda, for example, has grown almost 200%.
The rest of the stickers were flat or declined. When the market dropped today, those tickers declined further. Tyson food, for example, was $90 before covid and now $60. Ford was $10 in 2020 and still $10 now.
This is very bad for the economy as a whole because AI are the only ones that actually grew but they don’t produce the bread you put on the table, or gas in your car. They also don’t traditionally employ a lot of labors.
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