The Dow Jones Industrial Average
In Europe, the eurozone's Purchasing Managers Index dropped to its lowest point in the past three months, to 48.7. Any reading of this measurement under the level of 50 indicates an economic contraction, further supporting the notion that the eurozone is already in the midst of another recession, especially since its economy contracted 0.3% last quarter (an official recession requires two consecutive quarters of contraction). On a similar note, HSBC's Purchasing Managers Index for China also declined to its lowest point in four months, underscoring the notion that China's rate of growth is slowing. That's alarming, especially given the weak economic condition of the developed world's economies.
Around the markets
Further exacerbating concerns over the health of the global economy, shipping powerhouse FedEx
What it all means
No investor likes to see the value of his holdings decrease. Especially on days when the market falls markedly, investors always need to step back and remember that investing for the long term is the best road to a happy retirement. However, if you can take these occasional lumps in stride and dismiss them as only temporary, investors will give themselves the best chance of succeeding when they need their nest eggs.
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Fool contributor Andrew Tonner holds no financial position in any of the companies mentioned in this article. Motley Fool newsletter services have recommended buying shares of FedEx and Chevron. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days. The Motley Fool has a disclosure policy.