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Why investors should always brace themselves for sudden market drop
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A good reminder for investors is the oft-used cliche that “time in the market is more important than trying to time the market.”
PHOTO: AFP
Even the biggest bulls probably knew, deep down, that a winning streak unseen since 2007 could not last forever.
The tech-led stock rally that has turbocharged markets for the past year and a half on the promise of artificial intelligence (AI) sputtered on July 24. The Nasdaq 100 suffered its worst day since October 2022. The S&P 500, meanwhile, was dragged down by the big technology companies, plunging 2.3 per cent to end a streak of 17 months without a drop of 2 per cent or more. That was the best stretch since the start of the financial crisis.
