“Panic” was a word used a lot after Monday’s stock market plunge.
It was the biggest single-day point drop in history, with the Dow plummeting nearly 1,200 points. As reported by Business Insider, selling, which began on Friday, was prompted by computer-driven trading and margin calls on investors who had bought stocks with debt. U.S. stocks are trying to recover, but not without see-sawing between gains and losses.
It’s hard to tell from the past three days what this all means long-term, but retirement-age people may be most affected by this change in the market. To find out more, Larry speaks to a panel of financial insiders for the latest on the ups and downs of the market, and how Californians may be affected by those gains and losses.
Randy Diamond, writer for Chief Investment Officer, an investment news, opinion and research site, where he covers CalPERS and CalSTRS