Posted on 07/19/2021 3:21:03 PM PDT by JV3MRC
CNBC had the spin on the massive stock market selloff story so fast it was as if the outlet was just waiting to protect the Biden administration from any bad news.
The Dow Jones Industrial Average fell a whopping 725.81 points July 19 as “anxiety mounted over the spread of the Delta coronavirus variant and its potential impact on the global economy,” The Wall Street Journal reported. It was the “worst session since October” for the index. But CNBC seemed to already know how it would spin the story at 10:42 a.m. when the market was in the heat of its nosedive: “Stock market volatility can be an opportunity for investors. Here’s why.” CNBC pulled the nothing-to-see-here angle from its back pocket and pontificated how “[w]hile volatility can be troubling for investors, experts caution against any hasty selling when markets fall.” Really?
The outlet ran two subheadings in its piece that were just as absurd given the extent of the market collapse. The first was “Volatility is common.” The second was “Volatility can be your friend.”
(Excerpt) Read more at newsbusters.org ...
Looks like CNBC “pounced” to pull up their knee pads.
I wasn’t worried about it until I read this - If the MSM is telling people to get INTO the market, they want suckers for the sell-off.
It is hard to see how a volatile downward movement over a year could be called good.
““[w]hile volatility can be troubling for investors, experts caution against any hasty selling when markets fall.” Really?”
Yes ... really. I thought all investors knew that. It is part of long term investing 101. The market fell 2%. Much more probably to come.
If one can’t stomach such drops perhaps they don’t have the stomach for investing. At the least ... they should have bailed a while back instead of waiting.
A correction is long overdue especially with the clowns now running the governmnet.
Biden Admin Chaos is causing chaos everywhere
They published the story in the heat of the nosedive. Which means they had no idea how far the market will fall and how bad the damage will be. It was as if the story was already pre-written. It was irresponsible, period.
Comrade Bidung and his fellow travelers are cause, as we know. It’s only going to get worse.
I beg to differ about the “consensus” story that places the reason primarily on Covid concerns.
IMHO other reasons could include inflation, the promise of higher taxes and thee August 1st debt ceiling.
MarketWatch and CNN have the same spin. The word has gone out.
Never try to catch a falling knife.
I don’t see the August 1st “debt ceiling” as a problem...it will be an “instant raise” given the current makeup of Congress..
As if.
From the people who claim the Cuban people are demonstrating because they want a Covid vaccination.
I’ll bet they are more worried about the out-of-control money printing than the stupid covid. Covid is the cover now for example of govt incompetence.
The fear is that the recovery will stall as a result of Covid resurgence.
Everything else is minor or BS right now.
With the media, it’s all about whatever narrative fits the current political agenda. It’s an Orwellian world we live in now. Biden printing up trillions and trillions of dollars to destroy our currency? No, can’t have that! Bloated stock valuations? Nope. It’s the variant, doncha know! We’re all gonna die because right-wingers don’t want to get vaccinated, hence markets are plunging. That’s the narrative, and Trump is always to blame, never Biden.
Futures are up tonight I hear, so expect tomorrow’s cover story to go something like this: “Markets recover as variant fears ease”.
Some years ago I kept track of headlines as the markets were gyrating crazily almost every day over the European debt crisis. Remember that?
Here are some actual headlines from various major news sources at that time. They are in chronological order:
Greek turmoil sends US and world markets lower
Market Snapshot: U.S. stocks surge on accord in Europe
Shares Tumble on Greece Fears
Stocks rise as eurozone fears ease
Stocks Hit Hard by Euro Zone Fears
Stocks rise as Greece nears debt solution
Stocks set to drop on eurozone fears
Stocks up in relief rally over eurozone debt deal
Dow Sheds 200 Points As Greek Collapse Looms
Wall Street jumps on euro zone relief
Stocks Plummet on Greece Fears
>> The second was “Volatility can be your friend.”
If a Democrat is trading on insider information it is
BABOOM.
It’s a newsworthy story because the market had not fallen that far since October. So they have to report a story. They were simply stating what any decent financial advisor would say.
As a long term investor I am good with it. A 2% drop is nothing.
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