Posted on 10/11/2018 11:57:57 AM PDT by BradtotheBone
Stocks fell in volatile trading Thursday, a day after the major indexes suffered steep losses sparked by higher rates and a sell-off in tech shares.
The Dow Jones Industrial Average traded 650 points lower, bringing its two-day losses to more than 1,400 points. The S&P 500 dropped 2.1 percent and was on pace for a six-day losing streak. The broad index also broke below its 200-day moving average for the first time since May. The Nasdaq Composite pulled back 1.5 percent and entered correction territory.
The major indexes fell after some of the major tech names failed to recover from steep losses in the previous session. Netflix fell more than 1.5 percent after briefly trading higher. Apple also declined 0.8 percent, erasing earlier gains.
Tech shares fell more than 4.5 percent on Wednesday, marking their worst day since 2011. The sell-off led to the Dow sinking more than 800 points and the S&P 500 dropping more than 3 percent. It was also the 28th time since 2011 the S&P 500 posted a more than 2 percent decline, according to data from Birinyi Associates.
"It's a momentum correction, not a portfolio correction," said Joe Terranova, chief market strategist at Virtus Investment Partners. "While we have a bias to believe 2008 could happen again, I don't think this is the case."
"Less is more in this environment," Terranova added. "I think you need to be an observer of the guidance you get in earnings."
Stocks tried to rebound earlier in the day after the release of weaker-than-expected inflation data. The U.S. government said the consumer price index rose 0.1 percent in September, well below the expected gain of 0.2 percent.
(Excerpt) Read more at cnbc.com ...
Maybe the Feds will print more money. /s
Well, there is this to consider:
https://www.investopedia.com/terms/p/plunge-protection-team.asp
“I’m curious how much it would cost to accomplish this manipulation.
“
Well, there is this to consider [stripped out the html]:
https://www.investopedia.com/terms/p/plunge-protection-team.asp
It’s just re-valuing itself from the bloated, overpriced, over-valued crap stocks. We all knew this ‘correction’ was coming.
Trump is ticked .
Powell is now hiding after dropping this bomb .
The talk about Trump firing this guy is growing .
The Fed reserve is looking like its setting up a recession for political globalist reasons .
For eight years they propped up a Muslim socialist globalist .
And?
How about the day it went down 666 points?
Trump has to bail out the Fed for it’s support of Hussein.
Not fair, but true.
Also has to consider those who invested in China. I bet they’re covering margin calls like crazy these days.
But they’ve had plenty of warning of ehat was coming- so not so much.
Nothing to worry about. There is nothing on this earth that keeps going up all the time(apart ones age LOL!), least of all the stock exchange . The markets always go up and down, albeit a 1400 fall in two days is a little bit extreme. I thought companies like Amazon were highly overpriced anyway, with a massive P/E ratio of 130. It was time for a correction.
In another couple of days, the markets will probably start going up again, like they usually do after big corrections like that.
In October 1987 the Dow lost a quarter of it's value in a single day. Six months later it was back where it was.
Yes - gold had a sharp rise. It is likely that gold will go for a run, after languishing for the past two years.
This is just part of his theory....you can see him on YouTube giving his 3 or 4 minute analysis.....
It was up a little bit today, and there are people
I need to tell you. There are people wondering if this is the October surprise, because, you know, early voting is happening now. As the stock market goes down, the media loves to talk about, The Trump economy may have topped out, and we may be headed back to our Obama reality, or some such thing. So there are suspicions this is all being manufactured in other words, leftists willing to take a financial hit in order to try to hurt Trump.
China markets opening, Shenzhen down another 6.34%, western markets holding on.
No drop in the Yuan though, guess they’re hoping to save that for January when the rest of the tariffs kick in.
China is so overextended it’s nuts LOL!
Sorry. Site I was looking at must not have updated.
Szenzhen down 1.2% now, Yuan heading to 7 to a buck.
“....Theyre crashing it a bit so they can blame it on ,you guessed it ,Trump, before the mid terms ,LOL....”
It wouldn’t be a surprise. I doubt it works though. The People are on to them and know where it’s coming from. Soros, and the evil ilk like him, need to be dealt with.
ime.com/money/5290948/stock-market-2018-7-investing-charts/
normal correction
ime.com/money/5290948/stock-market-2018-7-investing-charts/
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