By John Persinos
I spent last weekend with my twin six-year-old grandsons. Reading to them at bedtime has become one of the great joys in my life. The stock market sell-off last Friday reminded me of a favorite story of theirs: Alexander and the Terrible, Horrible, No Good, Very Bad Day, a classic that came out in 1972 and was later made into a movie.
U.S. stocks last week revisited the lows of this year's trading range. On Friday, the markets finished the month of April with a steep slump.
The S&P 500 is down 13.3% year-to-date, beyond the official correction threshold of 10%. The tech-heavy NASDAQ is down 21.2% year to date, a bear market. The Dow Jones Industrial Average hovers near a correction, with a year-to-date decline of 9.2%.
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