Are volatile stocks a black swan moment after another big drop for Dow?

Phoenix Business Journal

Market downturns and the end of expansion cycles (i.e. recessions) don’t start with a whimper. They usually land with a resounding thud.

That is according Spencer Levy.

He’s head of research for commercial real estate firm CBRE Group Inc. (NYSE: CBG). He was in Phoenix Thursday to talk about the state of real estate markets and the economy.

It also just happens to the be the second day this week the Dow Jones Industrial Average closed down more than 1,000 points following Monday’s big 1,100-point…

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