Your Money

While my newsletter topics are usually on personal finance, significant trends, and economic news, the broad stock market selloff that started last week has continued into Monday, making dramatic headlines. So, I wanted to address it now as it is happening rather than next week.

Financial markets have been hit by anxiety, causing global stock declines as investors focus on signs of a slowing U.S. economy. This drop continued last week's selloff, triggered by a U.S. jobs report showing slower hiring and rising unemployment, the highest in nearly three years. Concerns grew that the Federal Reserve might have delayed cutting interest rates too long.

Odds of steep Federal Reserve rate cuts rose sharply Friday and early Monday amid the turmoil on Wall Street. Investors now overwhelmingly expect a 50-basis point rate cut next month from the current 5.25% to 5.5% target range. They expect three to four additional trims by the end of the year, which would take rates down to nearly 4%, unwinding about 150 basis points of the 2022–2023 hiking cycle.

In times of market turmoil, we advise avoiding impulsive selling and the attempt to predict market movements. While we hate to say it's normal, a study by Guggenheim noted that there were 84 declines of 5% to 10% in the S&P 500 since 1946, which is more than one per year.

What does a "correction" mean, what's to happen next, and what can investors do now?
source: Charles Schwab

Your Life

An estimated 1 in 3 people do not stay up-to-date with colonoscopy screenings. People find current screenings so unpleasant that many skip them. There are two current screening options. First, collecting a fecal sample at home and mailing it in for analysis, or second, taking laxatives and going under sedation for a colonoscopy procedure. Colorectal cancer remains the second leading cause of cancer death in the U.S. and is one of the most common types of cancer overall. Early detection at the precancerous stage is so important. If everyone in the U.S. got screened regularly, deaths linked to colorectal cancer may drop by as much as 90%.

Luckily, researchers are making promising strides in developing a blood test alternative for colon cancer screening. In clinical trials, the test is proving to be highly accurate. The blood test can detect DNA shed into the bloodstream from tumors, and in a trial of more than 7,800 people, the new test accurately detected colon cancer at early, treatable stages 87% of the time. The false-positive rate was 10%. The test was less successful at detecting advanced precancerous lesions, detecting just 13%. In comparison, fecal tests are about 42% successful at early detection, and colonoscopies are up to 93% accurate.

The American Gastroenterological Association advises using blood tests as an additional tool, but they should not replace colonoscopies.

New Blood Test for Colon Cancer Highly Accurate in Trial
by Lisa O’Mary

Complexity Simplified

For many of us, a typical morning routine involves brewing a fresh pot of coffee. However, given our coffee makers' frequent use, properly cleaning and descaling them is a task often overlooked. Keeping a clean coffee maker is about more than just avoiding a brown-stained glass carafe. The coffee machine reservoir is among our homes' top five germiest items. To combat bacterial growth and the buildup of minerals from hard water and keep our coffee makers performing at their best, we should clean these machines each time we use them. Daily cleaning includes just a good rinse and keeping parts open to allow everything to dry out. Monthly cleaning includes cleaning the reservoir with an appropriate cleaning product of a DIY of 50-50 vinegar and water solution, allowing the brew cycle to run. Afterward, fill the reservoir with clean water and rerun the brew cycle. You should do this last part twice to ensure all the vinegar is gone. Finally, wipe the exterior of the machine.

How to Clean and Descale Your Coffee Maker
by Summer Rylander

Trivia