Personal Finance

3819 readers

1 users here now

Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Join our community, read the PF Wiki, and get on top of your finances!

Note: This community is not region centric, so if you are posting anything specific to a certain region, kindly specify that in the title (something like [USA], [EU], [AUS] etc.)

founded 1 year ago

MODERATORS

WandererLagomorph799@lemmy.ml

nieceandtows@programming.dev

nieceandtows@lemmy.ml

Dow closes nearly 500 points lower Thursday as investors’ recession fears awaken (www.cnbc.com)

submitted 3 months ago by return2ozma@lemmy.world to c/personalfinance@lemmy.ml

7 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] forgotmylastusername@lemmy.ml 0 points 3 months ago (1 children)

Online opinion is biased towards perpetual doomsday because the average person wants the markets to crash so they can buy cheap stocks.

[–] sugar_in_your_tea@sh.itjust.works 1 points 3 months ago

No, the average person panic sells when there's a correction, and they miss the upswing. So many people lose their retirement savings because they try to time the market.

I would personally like a significant market correction because I think I'm a pretty disciplined investor, but I highly doubt the average person thinks that way.

Also, a market crash doesn't just mean stock prices fall, it also means more layoffs, increasing prices (as companies try to maintain profits), and the risk of cascading failure (e.g. foreclosures and defaults adding stress to the banking system). My job is pretty secure, but that's not true for a lot of people. So no, I don't think the average person wants a crash.