Dow futures point to a 300-point drop as stock market rout continues; tech shares fall in premarket

CNBC ^ | October 11, 2018 | Fred Imbert | Alexandra Gibbs

[MichaelCorleone]

Did JFK really say that?

[Moonman62]

President Donald Trump criticized the Fed’s strategy on more than one occasion on Wednesday, saying that the central bank was “making a mistake” by raising rates. In a telephone interview with Fox News later that day, he said he wasn’t happy with the Fed, and that it was “going loco” and there was no reason for them to continue to raise rates at the pace they were doing.

...

He’s absolutely right. The Federal Reserve causes recessions and they may be looking to cause one in time to cause Trump problems for his reelection.

Furthermore, these economic cycles caused by the Fed manipulating interest rates hurt America, especially the wage earners.

We would have less inflation and more prosperity if the Fed let the market determine interest rates.

[oh8eleven]

I just liquidated an IRA last Tuesday ... my broker and I are waiting until things “re-value”; then we’ll make the buys.
Interesting, I'm doing the exact same thing ... meeting with finance guy next week to decide what to do next. Good luck to both of us :)

[Lazamataz]

He didn’t say as much, but he sure acted:

“On June 4, 1963, John F. Kennedy signed Executive Order 11110. The order called for the issuance of $4,292,893,815 in United States Notes through the U.S. treasury rather than the Federal Reserve System — the central banking system of the United States, which is neither federal nor a “system” owned by the government; it is a private entity.”

[Moonman62]

Trump is questioning the motives of the rate hike .

...

He’s right. It’s great to finally have a president who knows what’s going on with the Fed.

Hopefully, he’s giving notice that he’ll use the Treasury to counter their actions if they keep manipulating interest rates.

[Lou L]

As I’m watching, the drop right now is only 27 points.

The trading doesn't begin until 0930, Eastern Standard Time.

[Vigilanteman]

Maybe the only think that Crazy Bernie Saunders and Ron & Rand Paul agree upon is that we are way overdue to audit and reign in the Fed.

[SoFloFreeper]

at 8:15 central time the futures are down 55, not 300.

[Cold War Veteran - Submarines]

Anybody else find the timing of this sell off a bit more than curious?

[mad_as_he$$]

I find it highly predictable and not curious. The same pattern has emerged over the last 35 years or more. Bank earnings will be the solid tell and of course the Walmart indicator.

[Red Badger]

It’s a minor correction.

People should get a grip...............

[SMGFan]

first 30 minutes and no drop like yesterday.

[Theoria]

The markets ran up in the beginning of Obamas reign. They pulled back with a large drop. This is a similar cycle.

Pullbacks are a fact of life.

[rollo tomasi]

This isn't an “October surprise”, the Feds have owned around 40% of Treasuries since 2008 during that “kick the can down the road” “recovery”. Quite a few were 10 years and had to be held until maturity due to the sheer amounts. This is fall of 2018, “recovery” accelerated fall of 2008. How can you liquidate over $3 Trillion without raising interests rates.

The Feds are funding the government, why does everyone think this is the Feds fault? We are in charge of electing these politicians that spend like drunken soldiers, not the Feds. The Fed is just an entity that WE created (Government) because we want things now, on credit, and feel future generations need to pay for it.

Oh, btw, those QEs are going to be calling soon.

[Road Warrior ‘04]

Realize that! Just as the headline indicated, it was future!