Stock Market in Turmoil as Dow Plunges, Recovers Half of Losses - NBC Bay Area
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Stock Market in Turmoil as Dow Plunges, Recovers Half of Losses

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    NEWSLETTERS

    A quarter of a trillion dollars. That's not the national debit — it's the amount of stock value Apple has lost since hitting its recent highs. Scott Budman reports. (Published Wednesday, Jan. 20, 2016)

    A quarter of a trillion dollars.

    That's not the national debit — it's the amount of stock value Apple has lost since hitting its recent highs.

    It’s been that kind of a market since 2016 kicked off.

    Former tech darlings like FitBit, GoPro, and Square all at lows, after IPOing to cheers.

    Twitter, rumored to be on the shopping block.

    Apple — well, it’s dropped $224 billion in what seems like the blink of an "i".

    "You have to understand," says Bay Area CEO David Grandey of "All About Trends." "We’ve had a 7-year bull market," and are due for a correction.

    It seems to be here.

    Investors are nervous about their 401Ks, college funds, and their ability to make car payments.

    Twitter and GoPro recently announced layoffs, and Bay Area charities are worried that donations will fall next.

    "During a recession, the hardest hit are the non-profits," Annmarie Zimmermann of Loaves & Fishes said, adding that her organization is shoring up money, in case the charity dries up.

    Some, though, don’t mind the economic crash.

    After all, it’s largely because of energy prices tanking, bringing gas prices down along with them — and that’s good news for local commuters.

    As one man pumping gas says, "I like that gasoline is so cheap. I have more purchasing power."

    He might be able to use some of that money to buy stocks at a discount.

    Scott tracks the markets on Twitter: @scottbudman

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