A Look at the Stock Market During the Last Decade
What a tumultuous decade it’s been in the financial markets. We’ve seen peaks and valleys like never before, and it makes you wonder what lies ahead.
Just ten years ago, things were better than they had ever been in the stock market. Just about everything was at an all time high, and things showed no signs of slowing down. People were buying things blindly, despite the fact that P/E ratios were significantly higher than they had ever been.
More people were trading stocks than ever before. This was a craze that the world had never witnessed, and everyone wanted a piece of the action. New accounts were springing up left and right.
Unfortunately, reality hit soon after, and it hit main street pretty hard. The markets retreated from their all-time highs within a matter of months. Things plummeted as the reality of the tech bubble set in.
Things quickly went down and stayed that way for quite some time. Just when it looked as if things were stabilizing in 2001, things got worse after the 9-11 attacks. The world economy was at risk and many investors were pulling their money out of the markets.
Things slowly rebounded during the next few years, until the Dow Jones industrial average rallied to an all-time high in 2006, breaking 14,000 at one point. Many feared another bubble that was bound to correct itself.
It wasn’t just the stock market this time around. Many people chose to bet on oil prices, which hit highs of over $140 per barrel during 2008. People were quitting their jobs to trade forex currencies and the market hype was almost back to its old state.
The years of 2008 and 2009 were sour ones in the financial world. While the forex money continued to pour in, the rest of the markets experienced a downturn that crippled millions of investors. Can we rebound from here? We may very well be in the midst of that now.
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