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Dow drops 1,175, biggest-ever point drop
Dow drops 1,175, biggest-ever point drop
NEW YORK (AP) — The latest on developments in financial markets (All times local):
4 p.m.
The Dow Jones industrial average plunged 1,175 points, or 4.6 percent, erasing its gains for the year.
The Dow’s drop Monday was its biggest in terms of points, but it had a larger percentage drop as recently in 2011.
The Dow is down 8.5 percent from the record high it hit in late January.
The slump began Friday as investors worried that higher inflation and interest rates could derail the long-running rally.
At one point the Dow was down as much as 1,600 points.
We live in a time in which decent and otherwise sensible people are surrendering too easily to the hectoring of morons or extremists.
- Tarnation
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Re: Dow drops 1,175, biggest-ever point drop
There appears to have been a rally toward the close of the day, as the article indicates the plunge had extended to 1600 before beginning to recover.
Hopefully recovery will continue. Slow and steady would be better than volatile swings.
Life is an Orthros.
- Rongone
- Sentient Being
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Re: Dow drops 1,175, biggest-ever point drop
Watched our IRA’s lose a bundle yesterday. And that’s even after I changed our investment strategy from 80% equity/growth to 80% income/value after my wife retired last April.
Hopefully, the markets will stabilize. But I see futures have it down 2% today.
I fear that the uncertainty we see is due to the new Fed chair and analysts figuring out the effects of the tax reduction and jobs act that will increase the debt, increase inflation, increase interest rates which will make it more difficult to buy a house or a car or to charge things on your credit card. These will all have a direct negative impact on the “average middle class Americans” that the tax reduction and jobs act was supposed to help.
By the way, where is the Liar-In-Chief Trump on this? He’s been yakking for months taking full credit for the stock market surge, but now with a severe decline, nothing but crickets from Dear Leader. While, from my perspective, the president has little control over the markets unless he does something really stupid, but, in the Donald’s case, if he’s going to take full credit for the upswings in the markets, he’s got to accept full blame for the downturns.
- tennyson
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Re: Dow drops 1,175, biggest-ever point drop
Seems like we have seen a market like this BEFORE !
"Do not confuse motion and progress, A rocking horse keeps moving but does not make any progress"
- Just Fred
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Re: Dow drops 1,175, biggest-ever point drop
(The Borowitz Report)—
One day after the Fox News Channel host Sean Hannity blamed him for the historic plunge in the Dow Jones Industrial Average, former President Barack Obama agreed to stop making stocks tumble.
“Sean Hannity has accused me of making the stock market go down,” Obama told reporters on Tuesday morning. “All I have to say is, ‘Guilty as charged.’ ”
A visibly chastened Obama said that, at first, he thought that he had gotten away with making the stock market crash, but when he saw Hannity blame him on Fox, “I knew I had been busted.”
Obama offered scant explanation for why he had made stocks crash on Monday. “I guess since leaving the White House I haven’t really found enough ways to fill my time, so tanking the stock market seemed like something to do,” he said. “But I know that’s not a good excuse. The fact is, I caused a lot of folks a lot of pain yesterday, and for that I am very, very sorry.”
He said that he would “get to work right away” to return stocks to their previously lofty levels. “I made the stock market go down, and, darn it, I can make it go up again,” he said.
Last edited by Just Fred (2/06/2018 11:41 am)
- Just Fred
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Re: Dow drops 1,175, biggest-ever point drop
Looks like the market took another dump today. Who's tired of 'winning'?
- Conspiracy Theory
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Re: Dow drops 1,175, biggest-ever point drop
Just Fred wrote:
(The Borowitz Report)—
One day after the Fox News Channel host Sean Hannity blamed him for the historic plunge in the Dow Jones Industrial Average, former President Barack Obama agreed to stop making stocks tumble.
“Sean Hannity has accused me of making the stock market go down,” Obama told reporters on Tuesday morning. “All I have to say is, ‘Guilty as charged.’ ”
A visibly chastened Obama said that, at first, he thought that he had gotten away with making the stock market crash, but when he saw Hannity blame him on Fox, “I knew I had been busted.”
Obama offered scant explanation for why he had made stocks crash on Monday. “I guess since leaving the White House I haven’t really found enough ways to fill my time, so tanking the stock market seemed like something to do,” he said. “But I know that’s not a good excuse. The fact is, I caused a lot of folks a lot of pain yesterday, and for that I am very, very sorry.”
He said that he would “get to work right away” to return stocks to their previously lofty levels. “I made the stock market go down, and, darn it, I can make it go up again,” he said.
I've said it many times...the man has style. 
If you make yourself miserable trying to make others happy that means everyone is miserable.
-Me again
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