CNBC: Dow erases gains for the year, tumbles more than 600 points as stocks extend October swoon
Stocks plummeted on Wednesday as a sharp drop in tech shares and worries about corporate earnings added fuel to this month’s steep pullback.
The Dow Jones Industrial Average dropped 608.01 points at 24,583.42 and erased all of its gains for 2018. The S&P 500 dropped 3.1 percent to 2,656.10 and also turned negative for the year. The Nasdaq Composite fell 4.4 percent to 7,108.40— entering correction territory — as Facebook, Amazon, Netflix and Alphabet all traded lower.
“An increasingly murky macro picture is clouding the 2019 earnings outlook leaving investors to largely shrug off a solid start to the third quarter earnings season,” said Alec Young, managing director of global markets research at FTSE Russell. “While valuations have certainly come down in recent weeks, at 16 times forward earnings for the Russell 1000 index, they aren’t in the bargain basement by any means, especially if earnings growth slows more than expected next year.”
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WNU Editor: I can understand that market fundamentals .... rising interest rates, higher bond values, lower sales/profits being reported, trade war, Saudi Arabia, etc., will have an impact on the market and its trend line. But there is also another factor that is play, and that is the U.S. mid-term elections. No one is talking about it yet, but it looks like the stock market is predicting a Democrat win in next month's U.S. midterm elections.
12 comments:
I don't think they're predicting it, I think they're trying to influence/engineer it.
I also think DNC will win the house and it is very troubling. The Democrats will derail much of Trumps agenda.
A democratic win would be horrible for the nation. Lets just all go out and vote.
Also, I think the market reacts to the bomb scare today!
I really have to say, this bomb scare is such a plus for democrats...
1. It will make Republicans look bad
2. It makes Democrats' mobs look like yesterdays news -- what's worse than mobs roaming the streets? Pipe bombs!
3. It will re-energise the democratic base - until yesterday it looked like the blue wave was not coming and that the Republicans would actually perhaps gain a handful of seats in the Senate.. now this
WIN, WIN WIN for the democrats because of the pipe bombs. this has to be a leftie.. I hope they get him/them/her soon - the nation depends on it
A lot of loopy posters on this blog. Is America good again yet?
I saw an ANTIFA SUPERSOLDIER TODAY. VERY DARK. VERY SCARY. BOO.
Fred you have to take your medication
Despite the business/economic incompetence of the prior occupant, DJT has thrown a large rock into a heretofore quite pond. This is a big factor in the computers' and lemmings' response to stocks and the outlook for earnings. The ensuing waves, real and imagined, need some time to settle down. Not to mention the high stock market levels already attained, but now interest rates are ticking up. Another bad bad. So the computer programs kick in and so do the monkey see, monkey do set.
Hence, keep one's powder dry and remember, the mailbox bombs, real or imagined, have nothing to do with Walmart's earnings or any companies' for that matter.
While we wait, may I recommend an old and famous book; "Popular Delusions and the Madness of Crowds".
Nothing has changed but the date on the calendar.
Fred needs no meds.I am not laying blame but waiting for the perp to be caught. I do note how many here blame the Dems based on nothing but their biases
Let's not be gay conservatives or gay antifa here.
All of its gay and all of its connected to this
The Third World War must be fomented by taking advantage of the differences caused by the 'agentur' of the 'Illuminati' between the political Zionists and the leaders of Islamic World. The war must be conducted in such a way that Islam (the Moslem Arabic World) and political Zionism (the State of Israel) mutually destroy each other. Meanwhile the other nations, once more divided on this issue will be constrained to fight to the point of complete physical, moral, spiritual and economical exhaustion
We shall unleash the Nihilists and the atheists, and we shall provoke a formidable social cataclysm which in all its horror will show clearly to the nations the effect of absolute atheism, origin of savagery and of the most bloody turmoil. Then everywhere, the citizens, obliged to defend themselves against the world minority of revolutionaries, will exterminate those destroyers of civilization, and the multitude, disillusioned with Christianity, whose deistic spirits will from that moment be without compass or direction, anxious for an ideal, but without knowing where to render its adoration, will receive the true light through the universal manifestation of the pure doctrine of Lucifer, brought finally out in the public view. This manifestation will result from the general reactionary movement which will follow the destruction of Christianity and atheism, both conquered and exterminated at the same time.4
Awesome. Where do the short gray and tall blue aliens enter the picture?
dear anon...why do you hate gays? oh. ok...now we know
THIS IS WHERE TO GO IN MARKET PANIC
A simple market reaction, that's all. Very obvious looking at the DOW Price vs Volume chart. Badly needed.
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