The Dow and S&P 500 were each down about 6 percent. The rich are still rich, however.
The Dow Jones industrial average registered its first annual decline since 2008 as trading ended for 2015. But the stocks of the two largest market-listed gun manufacturers -- Smith & Wesson and Sturm, Ruger & Co. -- doubled during the year.
The Dow Jones is hitting record highs, giving the top 5 percent of the U.S. (who hold more than 80 percent of stocks) another huge boost. And although Stephen Colbert doesn't think the wealth divide is a big deal, former Truthdigger of the Week Robert Reich begs to differ.
Almost 40 years after the end of the Vietnam War, the United States has established a cleanup program to address the effects of toxic chemicals used during the conflict that continue to afflict the Vietnamese people with cancers, birth defects and other diseases.
Jittery investors now have even more to worry about after a disappointing May jobs report slammed Wall Street on Friday, wiping out the entire gains for the stock market this year. The Dow Jones industrial average fell 275 points, or 2.2 percent. The Nasdaq and S&P 500 were also down, dropping 2.8 percent and 2.5 percent, respectively.
Traditionally, the holiday season brings good tidings for the stock market, too. There's even something called "the Santa rally," we learned from this Wall Street Journal article. Neat! But this year, with trouble on the European front and the ongoing recession (yes, that reads "recession") at home, there may be less to look forward to, or so market forecasters fear.
This week's European crisis summit in Brussels has produced an agreement in an effort to mitigate what was looking like an inevitable economic catastrophe, judging by the dire situation in Greece and elsewhere in the eurozone. By Thursday, international markets were registering the results.