FYI: For the second time in five years, China devalued its currency.
The last time this happened was on August 24, 2015. This is a day that market participants will remember well. The Dow opened down more than one thousand points. I remember running into Josh’s office saying, “health-care is gone. XLV is down 20%.” In the first 15 minutes there were 1,278 trading halts for 471 different ETFs and stocks. 765 stocks in the Russell 3000 fell more than 10%. Things stabilized around mid morning and the Dow finished down 588 points, or 3.57%.
Regards,
Ted
https://theirrelevantinvestor.com/2019/08/05/yuan-redux/
