alt Hacker NewsThinking a 5% drop in one day is a big deal is recency bias. Other people have pointed out that statistically it is not that rare. We just have been living through an amazing run for equities.
I am not saying I know it will be fine or I know it will be terrible. I am saying I have lived through many 5%+ drops and they happen on the way up and down.
> Thinking a 5% drop in one day is a big deal is recency bias
In the past 5 years the S&P 500 has dropped 5% 1 time. the Nasdaq has done it 3 times.
You are ofcourse welcome to your own definition of a big deal but to me something that happens that rarely is a big deal.
At worst you'd have to agree that hte language is defensible:)