Last week, China devalued its currency. This week, the stock market started to fall. Yesterday, the markets closed anywhere from -2.06% to -2.82%, and today, the fall continues. Today’s closing bell has them down an additional -3/12% to -3.49%. And the worst part is, there is absolutely nothing you can do to stop it. You have no control over the stock market’s performance.
The market needed a correction—it has been growing at a ridiculous rate for far too long. So this shouldn’t come as a huge surprise. Savvy investors know when the market is overvalued, but the correction still seems to catch everyone off guard. It is just absolutely impossible (and foolish) to predict the market. And when it starts to drop, your hands are tied. You don’t have options.
