Turkish lira collapse as well.
Being set up by the big money players.
I remember, back in the day, when 600 points was a lot...
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Multiple things going on. Anyone who tells you they know exactly is lying, just like every other day of trading.
(Spoiled)Build Back Bolsheviks...wanted all that easy money/power NOW!(waaaaaaah! WAAAAAH!)
It collapsed because it was made with Chinese CONCRETE?..............
China is bringing everyone down.
Blaming it on a cold....all rushed, to CYA the damage being done by these $hots.
Unreal what we’re witnessing.
Bitcoin is also down 2%.
Long lines waiting just for a Covid test in NY and other places is insane. Everyone who has had three of Fauci’s jabs now proclaiming they have have Covid. Nice vaccine you got there, pal.
So all the foolish are going to rush in to sell and lock in their losses. Someone tell me we are not under the judgment of God with Biden and the rest of his Democrat followers. Is there anything Biden has not yet destroyed?
...gambling money being withdrawn from the market until after the Holidays.
Why China? Maybe I missed a news story.
Omicron, yes, Jim Cramer caught Covid at some kind of event. Governor Hogan too. But that’s not the real reason. The real reason is because the specter of more lockdowns and restrictions. UK and Netherlands are going there very soon. Maybe here too. What is Biden going to propose tomorrow? Lockdowns means commercial disruption and generally poorer earnings and greater inefficiencies. Probably was a bad idea for Biden to announce he was going to announce something strict. He should just announce it.
Manchin, yes a bit too because markets like to price in future earnings. More inflation means higher prices which means greater penny profits for corporations (even if the profit margins remain the same, the penny profit they make from the inflated prices will go up). Lower inflation, less reason to hold or buy into a red hot market.
Large publicly traded companies are (generally) doing quite well during COVID. Its the small local companies getting killed (if still in business).
When Manchin killed BBB and the opportunity for the Fed Govt to pump in trillions of more dollars into the economy, publicly traded companies would lose out most of all.
Wall Street loves government handouts. Everyone gets rich. Less handouts, lower stock prices (for today, anyways!)
Yes there other situations helped; but the market has been influenced by the likelihood of (more and bigger!) government handouts. IMHO.
The Fed scheduling 3 interest rate hike and the end of quantitative easing would be my guess.
How about vaccine mandate?
It’s gonna get ugly if that’s hitting us this soon.
I think you are seeing people run from the year end tax bill. People know the bull market is going to choke. Take your gains and get out of the way.
The markets are selling off in fear of Biden announcing some really stupid actions in his “nationwide address” tomorrow. Manchin abandoning BBB maybe causing some heartburn among those who have invested heavily in the green new deal, ie EV’s and related gimcracks.
A lot of reasons.
Including, generally speaking...a 35,000 point DOW doesn't coincide with the state of business, unemployment and the economy at large.