Posted on 10/09/2014 5:19:12 PM PDT by SkyPilot
U.S. stocks sank on Thursday, erasing all and more of the previous day's rally, as investors bypassed U.S. corporate earnings and economic reports to focus on global concerns, including Europe's softening economy.
"We've added global growth concerns on top of other headline risks, (such as) air strikes, Ebola," said Sean McCarthy, regional chief investment officer for Wells Fargo Private Bank.
Ahead of Wall Street's start, data showed a 5.8 percent drop in German exports in August, adding to downbeat numbers that had German industrial orders and output falling as well.
"Europe's growth is weak, and close to going into recessionary like conditions; everyone is waiting for the bazooka to be fired," said Mark Luschini, chief investment strategist at Janney Montgomery Scott.
Stocks furthered their losses after European Central Bank President Mario Draghi said there are indications that the euro zone's economic growth is slowing and that central bankers should strive to boost inflation.
"To some extent we've lost the optimism that drove the markets higher over the course of the year, whether it's worry about the impact of people dying of the latest contagion, whether worry about what will happen when the Fed is no longer pumping money into the economy, or Europe and the slowing there," said Bruce McCain, chief investment strategist at Key Private Bank.
After rising to 19.38, its highest level since Feb. 6, the CBOE Volatility Index, a measure of investor uncertainty, rose 24 percent to 18.76. The Russell 2000 Index of small-cap companies fell 2.7 percent.
(Excerpt) Read more at cnbc.com ...
1 Timothy 6:10
Okay....??? 2008 ??? Tell me that is not gonna happen.
I just sent 5K to broker the other day. WTF... I am not winning the future!
I think there is a MAJOR correction coming. That is what I believe. I base that on economic analysis, political, analysis, and religious analysis.
If this means anything to stock buyers, my broker is excited about health care stocks and anything health care related.
Europe, especially Germany, is entering a recession.
China has built entire cities, but no one is living in them.
The fed has been holding interest rates at virtually 0 percent for 6 years.
The party is about to end.
“I think there is a MAJOR correction coming. That is what I believe. I base that on economic analysis, political, analysis, and religious analysis.”
I just base it on the fact that we cannot keep borrowing a trillion a year forever. and, the fact that the government figures we’re too stupid to know it.
I watch a few stocks that would profit from the spread of disease. They’ve had a bump.
It goes straight to a drug company site. I was unable to make link smaller. This is the drug company: Gilead
My guess is 13,500, unless it goes down tangentially. I’m no expert...just like graphs of trig functions.
All brokers and financial managers don’t know what they are doing. Are you basing you life and future on them? If so, you are being foolish. They don’t have a clue, but drive their sport cars based on people like you believing their rhetoric.
Yes, kind of. I don’t know how to invest without help.
Definitely a good time to shift to safer bets like JNJ, CVX, XOM, KO, etc., etc.
My guess is closet yours......13,000. For awhile anyway,
I call that a buying opportunity. I hope the DOW makes it down to 8000. Always a good rule of thumb to do the opposite of the direction of the crowd.
This *not* especially unusual action in the week before option expiry. It *was* a large-scale move, let there be no doubt.
Finally, rationale thought not ruled by personal greed and emotion. You👷 are a rarity betel
This is not a routine correction. Hold on.
Buy WHAT? The U.S. Dollar is about finished. Guy gold and Euros, but don’t spew this false optimism garbage......we are not believing.
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