What Investors Really Fear
The specter of inflation—that ever-feared and never-appeared boogeyman—is haunting Wall Street.
The Dow Jones Industrial Average has fallen by 1,000 points only twice in its 122-year history. The first time was Monday. The second was Thursday.
There are two points to make about this. First, stocks have had a miserable week. The Dow erased nearly $3 trillion in wealth with a 10 percent plunge that officially qualifies as what’s called a market “correction.”
Second, . The Dow has thousands of points to lose because it has accumulated thousands of points in the last few years, quadrupling since 2009.
