Posted on 12/24/2018 10:22:06 AM PST by Sir_Humphrey
wo major stock indexes headed toward their worst Christmas Eve of trading ever on Monday, as the S&P 500 pushed to the cusp of a bear market.
Markets responded to turmoil in Washington. Multiple reports said President Donald Trump is discussing how to remove Jerome Powell from his position as chairman of the Federal Reserve. That discussion, as well as the recent market volatility, spurred Treasury Secretary Steven Mnuchin to call the leaders of the six largest U.S. banks over the weekend. Additionally, Defense Secretary James Mattis announced he would step down at the end of February, saying his views do not align with the president’s.
(Excerpt) Read more at cnbc.com ...
Yawn. The markets will be back to 26k inside of 6 months. They are so disconnected from the country it’s almost laughable. By 2020 you’ll wish you were buying at these prices. This has nothing to do with tariffs. I love how when the markets were going up no one sighted tariffs as the primary reason. Trump knew not to put Powell in. Just go with your gut Mr. President. These people don’t want YOUR policies to succeed
Odd but yes. Petro prices are falling, when this happens the market dives.
This has so little to do with Donald Trump. Thinking that the “powers that be” can move the markets like that is buying into the worst of the conspiracy theories.
The markets are run by the “C” team over the holidays. Its what happens after the New Year that is going to be telling.
I think we are going to see a debt collapse and a liquidity crunch like we haven’t seen since 1930. There is simply too much cheap debt out there. When the rush to the door starts, you had better be out of the way.
A little cash and some gold in the safe makes me feel good today.
In addition to Trump policies that have eased regulation and tax standing for many companies, the stockmarket rise had been bolstered by ongoing low interest rates.
So why are we surprised that - between the Democrats taking over the US House (which has historically not been so great for the market), and the Fed raising interest rates - the market is falling?
Indeed - too many things working against the stock market today.
...The men in the smoke filled back rooms like to make money too
Lots of ways to make money on a falling market
Especially if you know in advance it is coming
Dow dives 600 points to below 22,000, S&P 500 enters bear market - worst Christmas Eve ever
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Oh no! Does this mean rich people won’t be able to get richer now!?!?!
I bought some energy at the end of the day.
Saudis and others aren’t going to sit still long for $42 oil, or lower.
The tariffs are being BLAMED - but they are not the primary cause (or even secondary). Rising FED interest rates and a Democrat takeover the the House has a LOT more impact.
Seems to me this all started when we found our the dems were taking control of the house...
People act as if we didn’t have Tariffs before Trump.
Historically, 2% inflation is very low. I survived mortgage interest rates at %16 but I don't want to revisit that.
GD fed and the GD DemoRats.....all the want to do is Fu Trump and the USA....should be shot ....
What would he do to “fight back”?
The economic illiteracy displayed in this comment section is astounding.
Before the midterms there were several talking heads on liberal networks that questioned why Trump wasn’t running on the economy - and had turned to ‘immigration’ as his main issue instead.
It was odd...
Since the MSM hates President Trump this liberal ‘talking point’ was a warning the left was going to crash the markets... I thought their timing was off - and they had ‘missed’ the midterms, but it looks like the left is crashing markets for 2020... which would be a ‘Bill Maher’ dream come true.
Manipulation!
I’ve made more money when the market goes down. Puts are cheap and they fly in price when the market crashes. I had one put on SPY that made over $1k just today. Those who know how make more money in market chaos and crashes than they do during run ups.
“One other thing to consider, this all happened under a GOP controlled congress.”
There is far, far, far too much empphasis placed on either the occupant of the White House or who leads in Congress when some economic event takes place, as if either or them are the only or even the most important factor driving thousands of money decisions the event occurs from.
Trumps tariffs were already factored in, before this. So were many other things concerning the administration. As far as Congress just what do you think “Wall Street” was waiting to hear from them, that it SUDDENLY didn’t??
No. There are bigger and some global money and economic signals the markets are looking at and some are way bigger than who is the White House occupant or who is in charge of Congress now. The Fed decisions have this year been a bigger factor on the market’s than Trump’s decisions.
Most invstment decisions are forward looking, not backward looking so if you are looking for political angles I suggest considering what the markets think NOT of who is in charge now, but what a Dim controlled House is going to mean - that would be forward looking political analysis.
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