Just when you thought that things couldn’t get any worse, they did.  During normal times, a Friday before Christmas is an extremely boring trading session, but these are not normal times.

On Friday, the Dow Jones Industrial Average was down another 414 points, and that brought the total drop for the week to 1,655 points.  The marketplace has been completely gripped by panic, and CNN’s Fear & Greed index has just registered the highest “fear rating” that we have ever seen.

I keep saying that we have not witnessed anything like this since the last financial crisis, and the numbers clearly back that assessment up.  In fact, this was the largest weekly percentage drop for the Dow since October 2008… (Read More…)