Dow is currently in a freefall

[_Maksutov]

The Dow hit rock bottom and kept digging today hitting an abysmal 28,337 at one point.

- Doc

Caused by Nancy Pelosi and the Demoncrat Party.

[_Doctor CamNC4Me]

The Dow and related markets continue their meteoric plummet. :(

https://www.cnbc.com/2019/12/24/global- ... -2019.html

And:

https://www.marketwatch.com/story/stock ... 2019-12-26

The Dow Jones Industrial Average DJIA, +0.37% rose 105.94 points or 0.37% to 28,621.39 and has gained for 9 of the past 11 trading days to post a year-to-date rise of 22.69%.

The S&P 500 SPX, +0.51% gained 16.53 points, or 0.51%, to 3,239.91 for a year-to-date return of 29.24%.

The Nasdaq Composite COMP, +0.78% rose 69.51 points, or 0.78%, to a new record at 9,022.39

To be fair to KG's original intent with this thread, without the Fed's help Trump's Presidency would've most likely hit a hard recession despite all the wonderful things Obama did or didn't do (depends on which economist you're talking to). It should be noted that other than consumer debt fueling this red hot market, a big part of the uptick is related to housing going bananas all over the country as desirable land becomes more and more scarce in metroplexes across this great American experiment.

- Doc

[_Icarus]

It seems this thread is two years old, and was started when the DOW had dropped 6% in just one day. Was it somewhere suggested that the market would never recover?

Two years is a very long time. The market has increased 27% over the past year and that's great news for day traders and short term investors who started investing 12 months ago. But most Americans invested in the market have been in it for the long haul, and the market has risen just 7.5% over the past two years.

[_Doctor CamNC4Me]

If you peruse the the first five or so pages KG was gleefully noting the Dow every time it dropped. Whatever the case may be, I have a sneaking suspicion the Fed is easing money into the market to unfuck Trump’s weird trade wars and protectionism. I get we’re in he longest bull market in history (I think I’m not making that up), but I’m mostly posting because I’m anxious about the national debt, tax cuts, record spending, consumer debt, and Trump’s effect on trade. It’s an outlet.

- Doc

[_Doctor CamNC4Me]

Uh oh.

https://www.cnbc.com/2020/02/24/us-futu ... break.html

-1000

Is it the virus, or is QE causing a sugar crash for long-term investors? I just hope the Fed doesn’t keep printing money or saving up for retirement will have been pointless, and Ajax’s wet dream of old people driving taxis will come true.

- Doc

[_Icarus]

Not sure but they're blaming on the virus.

I also remember reading something a few weeks ago saying that 25% of the stock market gains have been from a handful of companies like Apple, Amazon and Facebook. Those evil liberals who know nothing about successful capitalism.

[_Icarus]

Looks like it isn't going to rebound today... down another 700+

[_Icarus]

The Dow just logged its worst 2-day point slide in history — here are 5 reasons the stock market is tanking and it isn’t just the coronavirus

The S&P 500 has shed more than $1.7 trillion in value in the past two days

1. Fear of the COVID-19 disease infecting the U.S. is accelerating. The illness derived from the novel coronavirus, SARS-COV-2, which originated in Wuhan, China, in January is starting to affect global trade and travel and taking a bite out of confidence about earnings and economic growth.

2. Uncertainty about the U.S. 2020 presidential election outcome is also starting to drive markets, strategists and analysts argue. A number of them think that if Vermont Sen. Bernie Sanders wins the Democratic presidential nomination, and possibly even the presidency, stocks could take a hit as he is perceived by some as an antibusiness candidate. “The risk to US stocks is pretty significant if Bernie gets the nomination,” said Ed Moya, senior market analyst with OANDA.

3. Even before the markets slumped this week, the value of stocks has been viewed as rich. One measure of stock-market values, showed that the S&P 500 index was trading at 18.9 times the weighted aggregate consensus forward earnings estimate among analysts polled by MarketWatch. That is up from 16.2 a year ago, and, aside from a brief point early in 2018, it is the highest forward price-to-earnings, P/E, ratio for the benchmark index since May 2002.

4. Government bonds yields have been sliding steadily lower as investors seek safe havens given doubts about global economic growth in the wake of the coronavirus epidemic.

5. Bond investors fear that the coronavirus might result in a global economic slowdown which might wash up on U.S. shores as a full-fledged recession.

[_Icarus]

Ugh.

Another 600 point drop to open the day. Where will the bottom hit?

[_Doctor CamNC4Me]

https://en.wikipedia.org/wiki/Federal_R ... nt_members

The Fed has two, I think from the wiki link above, Trump appointments? I wonder if we're going to see more cheap money pumped into the economy to keep things humming along. We're already seeing the consumer price index jump so the real value of the dollar is dropping hard. Not fun, but I guess if you make the dollar drop in real value the national debt doesn't feel so onerous. It'll be super awesome to see $100 dollars have the purchasing value of $25 (in 2020 value) in a couple of years if things keep going the way they are.

- Doc