Dow drops 653 points in worst Christmas Eve trading day ever
55 replies, posted
https://www.cnbc.com/2018/12/24/us-stock-futures-fall-slightly-as-the-dow-attempts-to-rebound-from-its-worst-week-in-a-decade.html
U.S. stocks plunged on Monday in their worst day of Christmas Eve trading ever, as the S&P 500 entered a bear market.
The Dow Jones Industrial Average dropped by 653 points Monday in volatile trading, falling below 22,000. The Dow sank more than 2 percent, then recovered nearly all of the day's
losses, before again falling more than 2 percent. The S&P 500 fell 2.7 percent, slipping into a bear market as it fell 20.06 percent from recent highs. Wall Street traditionally considers a
drop of 20 percent or more from recent highs to be a bear market. The Nasdaq Composite Index slid 2.2 percent.
Markets responded to turmoil in Washington. Multiple reports said President Donald Trump is discussing how to remove Jerome Powell from his position as chairman of the Federal
Reserve. That discussion, as well as the recent market volatility, spurred Treasury Secretary Steven Mnuchin to call the leaders of the six largest U.S. banks over the weekend.
Trump resumed his attack on the Fed on Monday, tweeting that the central bank is "the only problem" with the U.S. economy.
Last week the Dow lost 1,655 points, or 6.8 percent. That was the Dow's worst week of trading since October 2008 during the financial crisis. The S&P 500 also lost 7 percent for the
week. The Nasdaq Composite is now 22 percent below its record reached in August and is in a bear market.
December is typically a buoyant month for stocks. Yet both the Dow and S&P 500 are down more than 14 percent this month -- on track for their worst December performances since
the Great Depression in 1931.
Merry Christmas
New statement from Mnuchin: guys, there is absolutely NO reason to expect banks going bust, bankruptcies on a massive scale and a total collapse of law and order across the nation, I guarantee it
oh shit I thought they'd be closed today.
Good bye Trumps reelection chances?
https://files.facepunch.com/forum/upload/229156/75f4feda-b6a5-4933-a994-90dfd2ce2ab6/image.png
Hey, at least we will get another black Friday sales holiday.
I am SO sick of how when the market has a gain he tries to take all the credit for it and how it's everyone except his fault when it drops.
but all those "necessary trade wars" did was shit on prices and many businesses?
That's the same with any issue
It just dropped again after Trump's latest tweet.
I'm dreaming of a black Christmas
It's honestly beyond frustrating to see most people and media outlets solely pinning this on a Trump tweet or Steven Mnuchin's phone call. Nobody talks about the impact of the GOP trillion dollar tax cut and massive Wall St. deregulation that leads to a crash every single fucking time they do it without fail.
well it'd be inconvieniant for any corporation to have to deal with the high taxes required to fully fund the US government. Even at the height of vietnam in the middle of a recession we had a shrinking US debt, it wasn't till ronny rayguns and his tax cuts that we were set on this course of ballooning debt
To be fair, that’s all an extension of Trump’s presidency in general—it opened the GOP floodgates to leave the economy in tatters.
I find Mnuchin's statement allegedly quoting Trump very interesting, multiple three syllable words, coherent message, complete sentences, and an acknowledgement that he doesn't have absolute power. The people who write these canned statements aren't even trying to sound like Trump.
except these dow jones averages and whatnot are based on a flawed measure of economic health - they were designed for a different time when the american economy was way different.
in fact, not even the unemployment rate is reliable, as it is very misleading. If you earned 20$ in the past 2 weeks or aren't actively searching for work, you're not considered unemployed.
I wouldn't be surprised to learn that Trump is tanking the markets on purpose so he can invest *right* when they start to recover.
He's just *that* much of an under-handed shit-heel that he'd happily do it, I fear.
Biggest insider trading scheme in history?
Hasn't he gone on the record to say that he profited "bigly" from the last recession? Who's to say he's not setting us up for round 2?
It had to happen eventually, as a matter of fact these things follow a 7-year cycle, which means this one is overdue - there was another crash in August 2015, but it got stopped. So this one had to happen.
Either way, buy the dip.
It's a 13 minute video from literally who, nobody's going to watch that shit.
Qanon was right, Red Tsunami came!
Because no one cares about the opinions of random people on youtube. Not before, not now, not ever.
Tbh no one would care as much if he didn't brag, which is the real issue
You should really consider getting your information from people who aren't shitlords.
We have different opinions on what 'very popular' means. 620k is a wet fart on Youtube; most people still don't know about Captain Disillusion and he's at 1.3 million. Most people don't know about ElectroBOOM and he's got 2 million subs. Most people didn't know who Markiplier was until he reached around 4 million subs.
Do you know who Scott Manley is? If you don't, you're just as likely to also not know who Secular Talk is. Scott Manley has 797k subs.
Caleb City? Day9TV? Sycra? vinesauce? SplattercatGaming? These are all channels about as popular.
Basically, outside of the niche that you're apparently in, it's unlikely anyone knows about them. Which does, in fact, make them
At least elaborate on that
Sorry, you need to Log In to post a reply to this thread.
