Recessions occur when a little slowdown in spending in an economy feeds on itself. As they see that investment income dwindle, they are more likely to cut back. Without a second trillion-dollar tranche of cash to support closed businesses and millions of unemployed workers, the president’s boast that the recovery was “looking fantastic” lacked substance. After a brief flirtation by the US Federal Reserve with increasing interest rates during the first years of the Trump administration, all central banks have cut borrowing costs to zero, and some, including the European Central Bank (ECB) and the Bank of Japan, to below zero. We commit to never sharing or selling your personal information. Opinions are the author's alone, and this content has not been provided by, reviewed, approved or endorsed by any advertiser. Of course, there’s no denying the direct effect that poor stock market performance has on the overall economy. Money tips and advice delivered right to your inbox. It might not detect a shift in mood until it is too late, particularly if hard data across the economy look strong. All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. Markets plunge in uncertainty about a second term and a second wave The relentless rise of Covid and the fraught state of US politics are devastating share indices after a summer of recovery. conflicts which threaten to plunge the country into chaos. We invite readers to respond with questions or comments. Sink (a pot containing a plant) in the ground. A soldier plunged a bayonet into his body. For those not invested in the market, or whose investments consist mostly of retirement savings plunked into index funds, Monday’s crash matters about as much as Sunday’s Super Bowl result. But what does all this market volatility mean for your money, whether it's your retirement accounts or that loan you're paying off? But they always are, except for the times when they aren’t. It wasn’t the first time this year that fears of a Covid-19 second wave had spooked markets, but the rallies that turned the previous panics into mere blips on a chart appear to be absent this time. But, on a day like today, it’s a lot of wait and see as we watch along with the rest of the world. Stricter measures to limit households mingling began to take effect and government ministers of all political stripes began to talk about broader lockdowns being the only answer to the spread of the virus. 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You can trust the integrity of our balanced, independent financial advice. Definition of plunge in the Idioms Dictionary. How you can save $1 million for retirement, How much the most populous states pay mail carriers, Creepy ways your company can spy on you while you work from home, Major companies suspend social media advertising over online hate speech, This bookshop survived earthquakes and recessions. All this pushed investors to take action, leading to Monday’s stock market nosedive. But distrust of the polls and Trump’s veiled threats to challenge the validity of a narrow Biden victory have only added to stock-market jitters. he plunged himself into a course of Sanskrit. That doesn't mean there aren't choices you could consider if you want to shield your 401(k) from the market plunge. Show full articles without "Continue Reading" button for {0} hours. Over the past week, American stocks have dropped about 7%, punctuated by a breathtaking, record-setting plunge on Monday. Stocks haven’t fallen so hard in a single day since August 2011. 1no object, with adverbial Jump or dive quickly and energetically. Alex Rosenberg … They can be fought by replacing the lost spending directly (that is, by having the government pick up the slack) but also by persuading everyone that their worry is misplaced, that things are actually fine, and that they should go back to being cheerful and optimistic. The previous week, oil prices dropped 10%, the biggest decline since 2014 and Brent Crude prices saw their biggest drop since 1991, when the U.S. first invaded Iraq. Last week, the Stoxx 600 index of European companies slumped to its lowest level in five months, falling 3.1% in a day. Start the day smarter. This could lead to foreclosures, which have a long-term impact on the real estate market as a whole. The previous week, oil prices dropped 10%, the biggest decline since 2014 and. But not this, Jim Cramer on Chesapeake Energy filing for bankruptcy. There can be no knowing about the former. Definition and synonyms of plunge into from the online English dictionary from Macmillan Education.. If a poor economy leads to job losses and cutbacks, consumers may be unable to pay their mortgages. Stock market investors are braced for a bumpy ride this week as the likelihood of further dramatic increases in Covid-19 cases across the world collide with the final days of the US presidential election campaign. The car went off the road and plunged into the gully. Should you save for retirement or pay down debt? A folk-wisdom sense that the economy was “due” for a downturn might contribute. The stock market plunged to its lowest level in over 50 years. A swift and drastic fall in value or amount. Or another random piece of bad news. This affects sales of everything from luxury goods to homes and cars. Or a spike in the price of oil. But even if your business doesn’t invest, erosion of consumer confidence will likely affect income. A big move in stock prices can signify some change in economic fundamentals, but it can just as easily signify nothing at all. Here's everything we know, How you can save a million bucks for retirement. She plunged her face into a bowl of cold water. For a drop to have that effect, however, would require some extenuating circumstances. Crash course How to interpret a market plunge. She plunged ahead with her plan. It is hard to imagine that a tumble in stock prices—even one as dramatic as Monday’s—could shake economic sentiment enough that policy-makers would need to try to lift anyone’s spirits, given how robust economic figures have been of late. take the plunge phrase. (That means a combination of Water and Strength.) If US stocks are to recover their momentum, tech will have to perform. plunge synonyms, plunge pronunciation, plunge translation, English dictionary definition of plunge. Even without a mandatory quarantine, consumers may choose to stay home rather than dine out or avoid events where large crowds gather, such as concerts. We make every effort to maintain accurate information. v. ... 2. fall, crash (informal), slump, drop, tumble the stock market plunge. Sign Up for free weekly money tips to help you earn and save more. Governments and economists have discovered that these outbreaks can be fought. All rights reserved. This crash is probably nothing. And that is because the ebb and flow of the business cycle is to a large degree about mood management. There is nothing structurally broken about the economy when this happens; factories work like they did before and workers have the same skillsets. 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