I am surprised to see you are the only post about this ...and with no comments. Would love to know why this happened.
Ouch! that one hurt. At least in the short term.
The feds have been furiously increasing rates after flat lining them to near zero under Obama. Yellen’s work to undo Trump. The same was done during the Reagan years and leas eventually to Bush Sr losing the elections
European stock markets dive as global sell-off continues ,it not just the US ,D’oh
It is exactly what anyone would expect after the sell off on Friday. Now, all we can do its await the Market Correction and see how low it will go.
The establishment is clearly sabotaging the stock market in order to destroy President Trump’s strongest weapon....his successful impact upon the economy....
Janet Yellon raises interest rates on her last day & the market tanks.....
Who ran the market up so high so fast? Strictly pump & dump....
Who cares if the BIG BANKS like Wells Fargo are losing money.....they got it free from the FED in the first place & have made HUGE GAINS on money members of the FED created out of thin air & loaned to themselves.....?!
Looks like Soros & Buffett want to mess with Trump.
DJT is a master strategist but all the “Hey the stock market is up SOOOOOO much, this is great..!” was a mistake:
That is the SOLITARY matter on which he spoke out on but should not have.
ALL the rest of his chest-beating was fine, IMO.
I’m not worried about it. Let me know when the market takes a 10%+ dive in a single day or we start to near only 20K on the index.
Flash Crash
Some of this is a one-time, unintended consequence of the tax reform bill. Individuals have deferred profit-taking from last year’s rally and pushed it into 2018 to get the lower tax rates. We just got hit with a big surge of pent-up profit-taking all at once on Friday and today. After individuals finish selling and the HFT systems calm down, the market should rally back up just like after the Brexit vote. The economic fundamentals are strong and rumors of rising inflation are greatly exaggerated.
I JUST SOLD ALL MY STOCKS...
phew.
well, i have none to sell, so i guess i am screwed.
Fire and Fury
A correction is normal - but this appears to be politically motivated notice it started the day the memo came out.
With the DNC losing any chance of retaking the house and the whole investigation coming apart - they had to find new talking points.
Damn. I was too late to time the market.
The Fed’s unprecedented action against Wells Fargo was very poorly timed, considering the serious selloff we had on Friday. The Fed should have delayed that action until the financial markets stabilized. The Fed’s hawkish statement released last week talking about “further rate hikes” was completely unnecessary and just destabilized the markets. That’s two serious mistakes by the Fed in two weeks. They need to get their act together over at the Fed. It’s time for Trump to have a talk with Fed Chairman Powell and tell him to make sure the Fed doesn’t disrupt the markets again with stupid mistakes.
Math Morons don’t understand that citing “largest point drop” is false reporting because market declines are more correctly measured in terms of PERCENTAGE DROPS.
This article said last Friday’s decline of 666 points on the DOW only ranked 538th in the list of historical PERCENTAGE DECLINES:
https://seekingalpha.com/article/4142967-dows-6th-largest-drop-ever
Looking forward to a measure of the percentage ranking of today’s loss.
Here are the 20 largest declines:
https://en.wikipedia.org/wiki/List_of_largest_daily_changes_in_the_Dow_Jones_Industrial_Average
Today doesn’t even rank in the top 20.
Trump should distance himself from bragging about the market. I knew this was going to happen. He should have qualified his boasts about the markets by saying that “declines will happen, but the market has been rallying.”
ETF auto-selling kicked in. Auto-buying kicked in at -1500.
Market correction is all. Just sit tight.
According to CNBC, the biggest institutional trade in the past 6 months has been shorting the VIX. In the past week, the VIX has gone from from 9 to 33, so a lot of margin calls have gone out.
The talking heads suspect that some institutional trader or fund got their portfolio liquidated when a margin call came in that couldn’t be met. Huge amounts of stock can be dumped on the market when that happens.
One of my accounts with half of my holdings was up over 30% YTD!! I was uncomfortable with that level of return. I actually welcome some pullback.