It’s been a bad day. My investments took a beating today. In fact, my worst day percentagewise and absolute dollars in the three years since I’ve been keeping records. That leaves my up only 33% for the year, recently I was up quite a bit more. And my cat got in a fight a week ago. An abscess came up last Thursday. I took to the vet on Friday. He was supposed to get the stitches taken out and the drains removed today, but the vet said he’s not doing well. He had to be hospitalized. Of the two events, I’m more concerned about my cat than my investments.
The way I see it (and I admit, this is speculative, I don’t have any special knowledge) tech stocks tend to be considered as a group. Facebook sent a chill through the sector. That started a sell-off which hit some magic threshold and algorithmic trading triggered a rapid sell-off. That rippled through the entire sector with little regard for specific businesses.
And I’m sure there were other factors as well. I don’t see anything fundamentally different about the companies I’m invested in today than I did a few weeks ago. As I see it, nothing has really changed other than stock price.