The stock market’s jitters are spreading quickly. Just a few weeks after major market indexes peaked, stocks are plunging with the Nasdaq Composite (NASDAQINDEX: ^IXIC) already having entered a correction (a decline of more than 10% from a recent peak).
Stocks fell sharply for the third straight day on Monday as investors wrestled with downbeat economic data and a shock in Japan after the Nikkei fell double-digits as the Bank of Japan surprised investors with a rate hike. That action began a massive unwinding of a global “carry trade” in which investors were borrowing yen at near-zero rates and investing it elsewhere.
Seasoned investors know that while stock market sell-offs are scary, they also offer good buying opportunities. No one knows how long this correction will last, but it’s a good idea to have a list handy of stocks to buy if the decline continues. Keep reading to see three top stocks that are on sale right now.
