Billy Ray: Sounds to me like you guys a couple of bookies.
Randolph Duke: I told you he'd understand.
Posted on 04/02/2018 11:39:59 AM PDT by SeekAndFind
Trade war fears and a presidential attack on Amazon are rocking Wall Street. The Dow dropped more than 700 points and the Nasdaq plunged 3% on Monday. All three major indexes are now in the red for the year.
The sell-off on the first day of the second quarter came after President Trump once again attacked Amazon on Twitter. Amazon (AMZN), one of the biggest drivers of the 2017 market rally, tumbled 5%, wiping out more than $37 billion of its market value.
Trump once again accused Amazon of taking advantage of the US Postal Service, and he suggested that Amazon does not pay its fair share of tax.
In fact, Amazon pays the same lower rate that the post office charges other bulk shippers, and it collects sales tax in every state that charges it. Amazon does not collect sales tax on purchases made from third-party vendors.
"You've got the president of the United States attacking a single company over what he considers to be unfair practices," said Ian Winer, head of equities at Wedbush Securities.
Amazon wasn't the only tech stock in trouble. Tesla (TSLA), Netflix (NFLX) and Cisco (CSCO) all dropped by at least 4%. Intel (INTC) plunged 8% on a Bloomberg News report that Apple plans to switch to its own chips. Almost every stock in the Nasdaq 100 lost ground.
The Nasdaq has plunged more than 10% from its all-time high on March 12.
"When investors see market leaders suddenly stumble, they become more cautious about the entire group," said Kate Warne, investment strategist at Edward Jones.
(Excerpt) Read more at money.cnn.com ...
Buying opportunities!
Cowardism. There seems to be a lot of it going around in this country these days.
this is serving no good function at all.
I get that President trump does not like Bezos, but I realy think his statements are serving no effect purpose except to destroy wealth.
Nowadays any move less than a thousand points is just an “interesting” day. Back when the dow was at 6,000, 700 would have been a big deal.
We are in a trade war NOW! How can you fear something is going to happen when it ALREADY happened?
The stock market is a casino. Get used to it. You are gambling when you play with stocks.
Hmmm.....Amazon tumbles.....devalued
One wonders about the status of the debt used to purchase the Washington Post? How was it collateralized. Is the collateral still worth any thing?
Like Bezos hasn’t destroyed enough wealth on his own!
He’s like a one man China with what he’s done to retail and other service jobs in this country.
Your ignorance continues to be on public display for all to see qand laugh at
Agreed. Vindictive at best.
Billy Ray: Sounds to me like you guys a couple of bookies.
Randolph Duke: I told you he'd understand.
Looks like the President can take credit for the run up in the Dow and the run down as well.
You and your Nobel piece prize.....
In fact, Amazon pays the same lower rate that the post office charges other bulk shippers, and it collects sales tax in every state that charges it. Amazon does not collect sales tax on purchases made from third-party vendors.
If that’s actually the case, then open up the books and prove it, AZN!!
It is good. There were a lot of weak hands in the market thinking they would just sit on their stocks particularly big tech forever and only bail for the next crash. The problem is the next crash will be engineered in October. This correction is very healthy and a useful way to get rid of the weak hands to strengthen the market. By October we will be back into a strong rally.
I bet it will be up 500 tomorrow.
Don't forget the run back up again. The campaign speeches will write themselves.
Wonder what Dow would be if we remove amazon and the social media platforms such as facebook.
Did you notice fake news? They post a whopping 700 point drop in DOW, because that’s seen as a big number and a whopping 3$ for Nasdaq cause that’s seen as a big number.
They don’t not report stuff as much as they mis-report stuff.
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