US stock markets fell of the cliff today. The Dow at one point was down over 1000 points; a record. The NASDAQ was down over 400 points shortly after the open. The indices recovered about half of their losses by the close. The Dow is down a record 1500 points in the past 3-days. The Dow and the S&P are down 9% in that time. The NASDAQ is down 10% in the past 3-days. Many well-known names were down as much as 21% before recovering slightly. The major indices closed down about 4% on the day. After 4-years, we are finally in a stock market correction. Corrections typically see a 10-15% selloff and last 2-3 months. However, this selloff has occurred so quickly, that the usual 2-3 month timeframe may be compressed. We’ve had two back-to-back 500 point down days on the Dow. With this kind of plunge, the momentum is still to the downside. So we expect opportunity to become more attractive. One of the consequences of this volatility is that the Fed probably won’t raise interest rates until March of 2016. The odds of a September Liftoff have dramatically decreased as global stock markets have cratered and left overseas in disarray. As we’ve said before, “There’s opportunity in chaos.” You have my email. If you have any questions or concerns please contact me anytime. My cellphone is (858) 204-4268. If your friends or family have questions, please pass my phone number along or have them email me. At Higgins Capital we have the unique ability to help you manage your 401k. If you, your friends or family would like to know how we can help you in these trying times, please contact me. We Quarterback Money®.