Insane day for the markets Thursday, thanks to a maniacal day crossing the border between Russia and Ukraine. Apple Insider ran a piece early on Thursday saying, “The Russian invasion of Ukraine has sparked a ‘Black Swan’ event in the stock market…” Contextually, I get what a “Black Swan” event is, but I thought here we’d go with denotation rather than connotation. According to the site Investopedia:
A black swan is an unpredictable event that is beyond what is normally expected of a situation and has potentially severe consequences.
Black swan events are characterized by their extreme rarity, severe impact, and the widespread insistence they were obvious in hindsight.
When Apple Insider posted its piece Thursday morning, it talked about a continuing sell-off of Apple and other big tech stocks. Didn’t stick.
Checking the Apple Stocks app that so many people wanted to be able to pull off their phones, the Dow ended the day up 92 pts - practically flat for the day. The NASDAQ was up 436 - a rise of a little over three-percent. Apple ended up 2.67 - a rise of a little over one-and-a-half-percent. Again though, didn’t sick. Shares in the Cupertino-company were down about a buck-and-a-half in after hours trading.
