Stocks Drop Again...

I'm really beginning to wonder if I have cursed the stock market by my mini attempt to start buying one local stock a month. Ever since I decided to do this it's been bad news. As this AP News article points out this is the second biggest drop in four years. The fear today over a slowing economy is contradictory to what was stated by various reports that came out recently showing that the econmy would continue a slight, better than expected growth pattern. Today's stock jitters is being blamed on:

Subprime lenders provide mortgages to people with poor credit. Though they are a relatively small part of the U.S. economy, their difficulties raise larger concerns about the housing market, which until its slowdown in recent years was a big source of money for consumers. That, coupled with the Commerce Department's report Tuesday that U.S. retailers eked out a meager 0.1 percent rise in sales last month, led Wall Street to reconsider whether Americans' buying power will withstand an economic slowdown.

The good news is that when buying stocks during this time period they are lower, with the hope being that they will increase in time despite some fluctuations...At least that's my hope.

:-)