Editor's Note: Below is a chart (and excerpt) from today's Early Look written by Hedgeye CEO Keith McCullough.
When a stock market drops by 20% or more, we call that a crash. If you disagree with the verbiage, try it with your own money and let me know what it’s called. If you lose 20% of your money, you need to be up +25% (from that price) to get back to break-even.
As of yesterday’s US stock market close, the Russell 2000 (-20.8% since AUG 31st) has joined the Chinese, South Korean, Italian, etc. stock market crashes of 2018.
Here’s the non-fake-news update on that Global Economic Cycle: