Dow Plunges into Correction Territory: Here's How Bad Friday's Market ... - The Fiscal Times
The Dow Jones Industrial Average finished the day down 531 points for a 3. 12 percent loss. The S&P lost 65 points (-3. 16 percent) — its worst day since Aug. For the first time since 2011, the Dow is now in a correction, meaning it has lost 10 percent from its peak. The S&P is nearing correction territory, too, having lost 7. 5 percent since its May 21 closing high. The selloff was widespread, with 491 of the S&P 500 stocks ending the day in the red and only 11 managing to advance (the S&P 500 actually includes 502 stocks). Sure, you might be among the lucky people who get a healthy bump in salary, but a recent survey by professional services firm Towers Watson found that companies are planning pay raises of 3 percent on average for workers. A new survey by human resources and management consultancy Aon Hewitt confirms that forecast: Even as the job market continues to improve, salaried employees can expect their base pay to increase 3 percent, or about a percentage point smaller than... From 1996 through 2000, salaries went up by about 4. 1 percent a year, according to Aon Hewitt data. Source: www.thefiscaltimes.com
