Skip to comments.Oil crash sends Dow diving 500 points
Posted on 01/20/2016 10:13:11 AM PST by Signalman
The Dow plunged 540 points on Wednesday after crude oil plummeted another 7% and crashed below $27 a barrel. The S&P 500 slumped 3.5% to its lowest intraday level since October 2014. The Nasdaq is down another 3.5%.
It's the latest blow in what's already been the worst start to a year on record for the stock market. The Dow is now down more than 11% in 2016. "Despite improving valuations, global equities continue to get hammered," Bespoke Investment Group wrote in a client note. The firm said the appetite for risk remains "awful." Turmoil in China and the crash in crude oil prices remain the main culprits for the market mayhem. While China's stock market dropped "only" 1% overnight, the energy market was considerably less quiet.
(Excerpt) Read more at money.cnn.com ...
Duh!!! The market is grossly inflated. This is just a market correction. We know the economy has not been booming. Companies have not been spending, people have not been spending, they’ve been socking their money into the stock market. You can’t have the market valuations skyrocketing like they have in the past two years while business activity is nearly flat.
Damnitall! I just filled my tank this morningð¿.
But but Obama said the economy is doing so well........
This is just the beginning of the slide into a deflationary depression. The whole globe is melting down and China is in for a hard landing. Its going be worse than 1932.
If you have not already read it go to David Stockman’s site and read his article from yesterday which tells you what is happening and going to happen. Then act accordingly.
Obama does a little dance
Obama’s chickens (qe, stimilus) comin’ home to roost.
Obama will be fine, he’s got his place in Dubai.
How does massive savings on fuel and energy for all consumers and energy intensive-industries mean a recession is coming?
Oh right - its another massive bubble, filled with dodgy, speculative debt sold by Wall Street, based on zero interest rates and massive money printing from our soviet-style monetary authority, the Federal Reserve.
Now all that debt is crashing, and like the housing crash in 2008, its taking the financial markets with it.
Looks like the banksters poo’d the scrootch with the latest Ponzi scheme (junk debt for low oil prices to grease the skids for more recirculating debt).
Kiss of death and all that rot.
Scary fact: National debt has exceeded GDP.
Paul Ryan and his buddy Obama just added another trillion or so to it with that horrible budget deal.
You have defined a crash. This is an adjustment to crash levels.
Uh.... yeah, Iran now being able to bring their oil to market has nothing to do with the price of rice in China.
Along with the lifting of a few sanctions
Very soon, anyone who even dares to mention the DOW will be branded as a RACIST that hates the idea of a Black President, by the US Media.
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