STOCK MARKET WATCH -- Thursday, 16 June 2022

[progree]

3. S&P 500 closed down 3.25%, Dow down 2.42% (741 points), Nasdaq down 4.08%

If the Dow had fallen by the same percentage as the S&P 500, it would be down 995 points!

S&P 500 now down 23.6% from its Jan 3 all-time high. Its at 3667.

The last close before Inauguration Day was 3799, so its down 3.5% from that point.

I switched 14.5% of my liquid financial net worth from a bond fund to a stock fund today. I realize I may be quite a bit early, and that it may be many years, and maybe even enduring a recession first (we've already had 1 quarter of negative GDP growth), for it to get back to where it was, but the historic track record of buying equities when they are down is stellar.
http://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/histretSP.html

I can't live on just Social Security. My other regular income is a FIXED DOLLAR annuity whose purchasing power is melting away with inflation -- 8.6% eroded away in just 1 year (and purchasing power never "bounces back", it just erodes further, though hopefully not at this rate).