Dow wipes out gains for the year with 600-point plunge

nypost ^ | 10/24/2018 | n/a

[ChicagoConservative27]

Stocks are closing sharply lower on Wall Street, led by a swoon in technology companies.

The S&P 500 and the Dow Jones Industrial Average erased their gains for the year.

High-flying companies like Netflix and Amazon took some of the biggest losses Wednesday. Netflix gave back 9.4 percent and Amazon dropped 5.9 percent.

Several companies sustained heavy drops after reporting disappointing results. Texas Instruments, a major chipmaker, slumped 8.2 percent and AT&T fell 8.1 percent.

The technology-heavy Nasdaq composite is now 12.3 percent below its August peak.

The S&P 500 index fell 84 points, or 3.1 percent, to 2,656.

[goldstategop]

Deep State meltdown?

[BipolarBob]

It looks like I picked the wrong week to quit smoking.

[dfwgator]

Is it safe to call this a “correction”?

[Blood of Tyrants]

Well crap.

[rdl6989]

A Soros induced pre-election correction.

[dfwgator]

[jstolzen]

Just in time for the mid-terms. What a coincidence!

[dfwgator]

Sounds like some good buying opportunities.

[Col Frank Slade]

Didn’t Trump just trash the Fed Chairman ?

Deep State fighting back.

[woweeitsme]

Question from a non-economics guy...

Could there be people manipulating the market to hurt the Republicans? I always felt that was done in 2008, but it just seems odd that the market has taken these big dips over the last month or so.

[Responsibility2nd]

Crap indeed.

My best performing stock is now below a 52 week low.

[palmer]

Just in time for the mid-terms. What a coincidence!

Predictable. But I also felt that part of the trade war was designed to tamp down the market back in the summer. Otherwise the plunge right now would have been much worse.

[jersey117]

The rats got a two-fer with their little bomb games. I despise them ALZl. Every last one of them.

[SaveFerris]

[A Soros-induced pre-election correction.]

Yep - I’m waiting for “markets rattled due to attacks on Democrats” - should be coming along any second now

[Mercat]

I’m just waiting for my deposit to clear and then I’ll buy.

[BipolarBob]

It looks like I picked the wrong week to quit drinking.

[Lurking Libertarian]

Could there be people manipulating the market to hurt the Republicans? I always felt that was done in 2008, but it just seems odd that the market has taken these big dips over the last month or so.

The market is too big for anyone to manipulate it.

[cowboyusa]

Down 500 in 1 hour! Super suspicious.

[OKSooner]

@$$#013$ go sending fake bombs with the wrong postage to everyone, and look what happens.

One wonders what they shorted.