The market took a dive on June 28 and 29 with portfolios going down 8%, but what happened on that day to cause the dive?
One suggestion was that the emerging markets and foreign stocks had been taken down due to the drama with the Euro and the China correction; however this alone should not have affected a change of 8% down. Another possible reason for a drop of 8% in a portfolio could be down to the fact that the portfolio itself hasn’t been properly diversified. Or it may be that there has been a miscalculation.
A more likely scenario for a drop off of 8% on a portfolio over those two days would be the Greek sell off along with Puerto Rico dragging down municipal bonds. But of course this would all depend on the exact holdings in the portfolio.