Markets - Minor Correction? (Edit: Question Answered)

chockydavid1983

ProDave said:

FTSE100 -4.9% already.

Surely by now this is oficcially a "crash" rather than a "correction"?

I think we're in bear market territory now but maybe headed for a crash?

aesthetic

Jesus wept, FTSE heading for a 10% drop just for today. It's carnage out there!

JohnRo

The only guaranteed road to investment riches is to play with other people's money for a fee.

I doubt the world's best investors have much in common or in reality, that much to offer most DIY investors.

womble_87

aesthetic said:

Jesus wept, FTSE heading for a 10% drop just for today. It's carnage out there!

It will likely recover a bit tomorrow. Or it may do as happened on black Monday and fall another 10% tomorrow!

kinger101

chockydavid1983 said:

ProDave said:

FTSE100 -4.9% already.

Surely by now this is oficcially a "crash" rather than a "correction"?

I think we're in bear market territory now but maybe headed for a crash?

Headed for a crash?  I'd hate to be a passenger in your car.

ffacoffipawb

Wouldn't it be ironic if Woodfords holdings were now the best performers. I doubt they are though.

DairyQueen

So, we are now in 1987 territory. Yep, I am old enough to remember the howls of anguish. I was then age 28 and headlines were screaming that this was the end of the world as we know it.

So, here we are several decades later and the investment world didn't end in 1987. Right now, I am more concerned about keeping my 80-something parents safe than I am in the state of my portfolio.

Priorities people.

womble_87

Can we assume the banks are safe? I have savings in a US bank (British "branch")

bowlhead99

womble_87 said:

Can we assume the banks are safe? I have savings in a US bank (British "branch")

You mean safe from the perspective of getting back your savings from the bank whenever you expect to be able to get hold of them? Assuming the division of the bank in which you are depositing has a UK banking licence, yes: the UK financial services compensation scheme will cover it.

If you mean safe for the owners (shareholders) of the bank, then no, they could lose a lot of money if the bank fails, though in general major US banks are not expected to fail.

masonic

ffacoffipawb said:

Wouldn't it be ironic if Woodfords holdings were now the best performers. I doubt they are though.

I don't think there is any danger of that. WPCT, now SUPP, fell 75% from its peak to mid-February, but has still managed to fall another 18% in the last few weeks. Would you buy it now?