• Stock Market PLUMMETS On News From Federal Reserve - DOW Down 350+ Stocks Down 2% All Gains From May
    10 replies, posted
[QUOTE]Stocks took a sharp nosedive across the board Thursday, with the Dow on track for its worst day of 2013, after Federal Reserve Chairman Ben Bernanke hinted the central bank may scale back its asset purchases later this year. With the declines from the last two sessions, the Dow and S&P 500 have wiped out all of their gains from May and June. The [URL="http://data.cnbc.com/quotes/.DJI"]Dow Jones Industrial Average[/URL] plummeted almost 350 points, extending losses after [URL="http://www.cnbc.com/id/100827876"]dropping more than 200 points[/URL] in the previous session. All 30 components were in the red, led by [B]Disney[/B] and [B]Intel[/B]. The last time the blue-chip index closed down more than 300 points was last November. The [URL="http://data.cnbc.com/quotes/.SPX"]S&P 500[/URL] and the [URL="http://data.cnbc.com/quotes/.IXIC"]Nasdaq[/URL] also slumped near session lows. The S&P 500 crashed through a key 1,598 level that traders had been watching. All three major averages were back in negative territory for the week, and on track for their fourth-weekly decline in the last five weeks. The [B]CBOE Volatility Index (VIX)[/B], widely considered the best gauge of fear in the market, spiked near 20, hitting a new high for the year. All key S&P sectors were sharply in the red[B].[/B] Defensive names have been getting hit the hardest over the last two days, the last two days, with [B]utilities[/B] and[B]telecoms[/B] down more than 4 percent each. [/QUOTE] [URL]http://www.cnbc.com/id/100831276[/URL] [URL="http://www.bloomberg.com/news/2013-06-19/japan-futures-drop-as-fed-sinks-u-s-stocks-crude-slides.html"][B] Bloomberg[/B][/URL] [QUOTE]Stocks tumbled, with the benchmark index of global equities sinking [URL="http://www.bloomberg.com/quote/MXWD:IND"]the most[/URL] in 19 months, and bonds fell around the world after the [URL="http://topics.bloomberg.com/federal-reserve/"]Federal Reserve[/URL] said it may phase out stimulus and [URL="http://topics.bloomberg.com/china/"]China[/URL]’s cash crunch worsened.[/QUOTE] [URL="http://www.nytimes.com/2013/06/21/business/global/daily-stock-market-activity.html?_r=0"][B]The New York Times[/B][/URL] [QUOTE]Global markets tumbled on Thursday over concern about a credit crunch in China and uncertainty about the United States central bank’s plans for withdrawing the monetary stimulus upon which the American economy has become dependent.[/QUOTE]
[media]http://www.youtube.com/watch?v=KbCk1XNfTs4[/media] Just another day on wall street.
Well it's expected. You can't keep that going indefinitely. But even then, this a short term thing I think. Gains that are slowely made are gained back as it equalizes. Edit: Eventually the fed can't keep buying assets that no one else will buy.
Rose a bit after close. In the grand scheme of things, we're still trading higher than we were 10 years ago.
[QUOTE=areolop;41115842]Rose a bit after close. In the grand scheme of things, we're still trading higher than we were 10 years ago.[/QUOTE] We're even higher than in 2008.
[QUOTE=areolop;41115842]Rose a bit after close. In the grand scheme of things, we're still trading higher than we were 10 years ago.[/QUOTE] Is that accounting for inflation?
[QUOTE=Brt5470;41115996]Is that accounting for inflation?[/QUOTE] Its from Google, so I think it is. They normally correct all their graphs for inflation
Oh NoOOOooOooo! Not another imaginary fluctuation of numbers! Whatever shall we do? Please let the banksters be merciful on us!
Further proof that the markets run on emotion, psychology, and panic, not actual science or data.
oh fuck oh fuck we are gonna be poor
[QUOTE=Zenreon117;41116347]Oh NoOOOooOooo! Not another imaginary fluctuation of numbers! Whatever shall we do? Please let the banksters be merciful on us![/QUOTE] Don't do this, this is embarrassing.
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