Is this a taste of things to come for the DOW???? Or is China going down instead????
The Japanese stock market was once the greatest show on earth. America, indeed the world, couldn’t get enough of Japan. Books extolled how Japan was primed to take over the world. America, these pundits predicted, would soon be a poor vassal in a new Japanese Empire. Come to think of it, you hear arguments along the same lines made today about China.
After the peak in 1989, the curtain fell, and it’s been largely riding the skids since. The Nikkei Stock Average fell to a low of 7,831 in April 2003, a drop of 80% from its high. That seems to mark the bottom.
Since then, it’s slowly crawled out of that hole. Today, it sits at around 13,199 - near four-year highs and a 68% gain from the bottom, but well below the old peak of 38,915.
DOW Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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