The Dow has plunged 3.4% to new 12-year lows — the sort of event which, even a few months ago, would have engendered screaming headlines across the nation’s newspapers. Today, however, we’re getting headlines, even on the front page of Yahoo Finance, which look for all the world as though nothing is happening at all:
This is good news: it means that stock-market volatility is no longer considered particularly newsworthy in and of itself. What happens on any given day in the stock market is not actually very important, and I’m rather heartened by the fact that this news has failed to make the front page of, say, nytimes.com. Well done, MSM, for finally getting some perspective.
Reprinted from Portfolio.com