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Dow Falls 2997 points worst drop since 87 crash

Stocks suffered worst day since the Black Monday market crash since 1987 even after the Fed unleash massive monetary stimulus, and record quantitative easing to curb the carnivorous outbreak.

The Dow Jones Industrial Average close by 12.93%, and in the final last minutes briefly down nearly 3,000 points.

Based on our forecast and prediction, recession probability and likelihood increase by 40% in last two weeks. Today’s selloff was the S&P 500’s Fifth 10% move in last 42 years.

Our Advise: It is time to carefully pick up some stocks based on crushed valuations, but the market is not likely bottoming. It’s hard to say are we two weeks away or months away from market bottoming.

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