Stocks substantially cut sharp early losses Monday as Wall Street attempted to make a comeback after the Dow initially tumbled as much as 1,089 points in the opening minutes of trading.
At midday, the Dow was down only 180 points, or 1.1%. The Standard & Poor’s 500 index plunged as much as 100 points as it dipped into correction territory before cutting its losses to about 25 points, or a drop of 1.3%.
The massive selloff, which kicked into high gear last week when the Dow tumbled more than 1,000 points and sank into official correction territory, which is defined as a drop of 10% or more.
Wall Street is still trying to gauge what will stop the landslide and stabilize the battered market, how bad the ultimate decline will be, and when it’s safe to dive back into the market and seek out battered
But what does that mean for your retirement? WKYC’s Kevin Myeroff focuses on three age groups: those 5-10 years from retirement, those 10-20 years away from retirement and those just entering the work force.