Why this is no plain-vanilla dip

Friday’s mini-rally notwithstanding, it’s getting ugly out there as my former CNN colleague Jack Cafferty used to say. You’ve seen the numbers and they aren’t pretty: Worst start for a year for stocks since 1939. Big tech companies have lost trillions of dollars of market value. Looking at your portfolio is like a kick in the gut.

The carnage is not equally distributed, though. While the Dow (^DJI) is down 11% year to date, (the market peaked on Jan. 3 — conveniently the first trading…

Read More