Wow, September 3rd will forever be the day implemented in my brain where I witnessed a bloodbath within the Stock Market. I wish I had time to get this out on the same day, but I’ve been recently busy as I started working for my company again.
I remember waking up early on Thursday morning and I saw my portfolio was red. Keep in mind, this was pre-market, so I didn’t think much would happen. An hour later, my entire portfolio was red. I lost almost half of my gains from swinging $ZM earlier in the week. In retrospect, I lost around $2200 in a single day. That number doesn’t nearly compare to others who’s lost much more than me. I have a friend that lost $20,000 just because of Thursday’s crash. The saddest part? All those $20,000 were all gains from June to September. 3 months of trading profit all gone within a matter of seconds.
Dow Jones closed at 28,292 with 807 points lost, S&P closed at 3,455 and dropped 500 points as well, and Nasdaq dropped 5% to 11,458. (CNBC).
I don’t think we’ve seen a crash like this since March, during its early stages of the COVID-19 fear. I mean, I really shouldn’t be surprised that we see a crash like this. In fact, I’d say it’s a correction that was bound to happen any time. Almost every stock has been rallying for the past couple months. We’ve seen examples with $AMZN, $AAPL, $TSLA, $NVDA and much more. These stocks in particular constantly broke all-time-highs every other week. Who would’ve thought we’d see Apple break $500 before the split and Tesla break $2200 before the split? Also, I would assume so with the $AAPL &. $TSLA split that occurred on Monday, that small rally for Tesla really gave investors a sign to finally take profits. The tech section had it much worse. Nasdaq had the worst outcome out of the 2 other composites. It was basically a tech sell off. Investors were finally claiming profits and decided to exit their positions.
Funny enough, Donald Trump tweeted this a day before the crash and I just thought it was a coincidence. I feel that his usage of these specific emojis are much worse than this crash.