Aug. 21 Memo to Clients re: Stock Declines

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The past few days have seen sharp declines in US stock prices, but as of August 20, the S&P 500 stock index is down all of 1% for the year, and still above its January 30th low by approximately 2%.  The current problems for the market range from slow world-wide economic growth; to more specific problems in China, and certain …