Transcript for Growing global stock market concerns
We begin with your money and the growing concerns about big losses on Wall Street overnight Asian markets fell sharply following Wall Street's lead at one point the major stock average in Japan slid more than 7%. Before recovering some of that loss ABC Serena Marshall is looking at what's behind the losses and what's in store for today's during a good morning. And is saying good morning it was a tough day on Wall Street net. Analysts and the White House caution simply part of the ups and downs of the markets. It was the single biggest one day drop in history. Anxious traders as the Dow plummeted 15100 points before rebounding. And ending the day still down more than 11100 points. But before you go racing to make changes year 401K that big drop isn't signaling another Great Recession. The stock market has gone too far too fast. If it's just appropriate. To hit the reset button if we look at the results from last year there way above the normal historic averages. Those historic highs wage growth and job gains a signal for the Federal Reserve to hike interest rates leading investors to fear a correction. The White House is downplaying the drop as typical markets seesaw today so law. Represents. The 40. Of course talk. Noticeably silent on the deep line however the president. Who often takes credit for market's gains as indicative of his policies I tell you. The stock market is hitting. One all time record after another but even with those drops one thing to keep in mind the long term it's not about trying to tie. I'm the market if you had put up thousand dollars into the market one a year ago. You would have made as of today 200 dollars on top of that that money would be safe as of today. Even in spite of today's losses. It's likely today we'll see another tough opening with the Dow futures weight down but analysts say before acting. Take a deep breath and remember this a drop was expected given those record highs Candace Diane. Serena thank you.
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