Stocks Take Hit Around World

      Friday's stock markets took a bath yesterday.  Economic news that forecast a broad retreat had traders in a serious sell state of mind.  S&P 500 slid 8%;  Dow Jones slid 8.2%; Stoxx Europe 600- 9.8%; Shanghai Comp. -18%; and the topper-NY crude-oil futures -20.6%.  Investors were grabbing bonds, sending yields below 2%  for the first time since October.   WalMart announced it will be closing over 200 stores as buyers become more infatuated with internet shopping.
     Analysts call the down trend a correction as the market has retreated over 10% since November.  Some positive information was widely disregarded.  For example, Citigroup reported its largest profit in 10 years, and its stock price fell 6.4% on Friday.  Too bad for you, Citigroup, after profiting on the backs of retail customers.
     Crude oil prices went south of $30. to $29.42/barrel, its lowest price in 12 years.   How about that!
To confirm many investors suspicions, index mutual funds have seen a surge in money that has come into the index funds from managed stock funds.   Consumers across the US are holding cash, spending less, indicating a nervousness about the future of a slow-growing US economy.