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Nasdaq drops 3%, Dow loses 300 points following hot inflation report
CNBC ^ | 5/11/2022 | Samantha Subin

Posted on 05/11/2022 1:36:13 PM PDT by Tell It Right

Stocks fell on Wednesday, dialing back earlier gains as investors continued to digest the latest U.S. inflation data.

The Dow Jones Industrial Average fell 326.63 points to 31,834.11, or 1.02%. The S&P 500 slipped 1.65% to 3,935.18, and the Nasdaq Composite dropped 3.18% to close at 11,364.24.

(Excerpt) Read more at cnbc.com ...


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: investment; nyse; stocks
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By my math, S&P 500 is now down 18% from it's ATH on Jan 3rd of this year.

The Fed giveth. The Fed taketh away.

Since Brandon entered the WH the S&P 500 is up 3.3%

1 posted on 05/11/2022 1:36:13 PM PDT by Tell It Right
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To: Tell It Right

Printing trillions of gibs muh dat bucks has diluted the dollar. And interest rates are going to have to go up at some point. The wolf is at the door.


2 posted on 05/11/2022 1:38:01 PM PDT by Mr. Rabbit
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To: Tell It Right

This is like a mirror image bull market. My holdings are going down, of course, but buying puts on the indexes has yielded a rich harvest.


3 posted on 05/11/2022 1:40:08 PM PDT by hinckley buzzard ( Resist the narrative.)
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To: Tell It Right

Yeah, and to think many people and retirees watched helplessly as their 401K, etc. got wrecked under ObamaIdiot and the housing bubble pop...

Imagine them same people now.

Not seen anything yet, stay tuned.


4 posted on 05/11/2022 1:40:29 PM PDT by cranked
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To: Mr. Rabbit

Where is that little cartoon ... Buy the F..king dip?


5 posted on 05/11/2022 1:40:33 PM PDT by RetiredTexasVet (Biden not only suffers fools and criminals, he appoints them to positions of responsibility. )
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To: Tell It Right

I usually follow the S&P 500 and when I looked at the charts this afternoon, it appears the next level for any support is about 3400. That would be another 500 point drop.

Bond market was up today and that implies folks are getting scared and are moving their money into bonds.


6 posted on 05/11/2022 1:42:54 PM PDT by Presbyterian Reporter
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To: Tell It Right

Bitcoin = $29,185


7 posted on 05/11/2022 1:43:16 PM PDT by JonPreston (Q: Never have so many, been so wrong, so often)
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To: Tell It Right

Ya know one wonders? How far will the American public let this clown and his merry bunch of marxists cause decline of this country until sane people say that’s enough! What will be the breaking point?


8 posted on 05/11/2022 1:45:52 PM PDT by eeriegeno (Checks and balances??? What checks and balances?)
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To: Tell It Right

But stand with Ukraine!


9 posted on 05/11/2022 1:46:20 PM PDT by Rural_Michigan
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To: Presbyterian Reporter

Shiller PE ratio at 30.6 is still 18% higher than the 20-year average of 25.9.


10 posted on 05/11/2022 1:47:10 PM PDT by Tell It Right (1st Thessalonians 5:21 -- Put everything to the test, hold fast to that which is true.)
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To: Tell It Right

and Brent crude back up to $107....happy days aren’t here again


11 posted on 05/11/2022 1:48:35 PM PDT by mikelets456
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To: Tell It Right

Year over year CPI was up 8.3%

Little mentioned is the month over month numbers.

April food was up 1% over March food. If that trend continues, food will be 12% higher this time next year.


12 posted on 05/11/2022 1:49:29 PM PDT by Presbyterian Reporter
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To: eeriegeno

For Americans, the breaking point is when they can’t continue to buy stuff. For us, it’s when they start taking stuff. However, I’m already beyond fed up with these divisive, lying pricks.


13 posted on 05/11/2022 1:50:18 PM PDT by mikelets456
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To: mikelets456

Our reality is this the Biden administration does not care about this nations economy. I know 90% of us are aware of that but it must be said over and over again they don’t care. They’re here to culturally change this country. And they were willing to cheat on the election to do it. The crap that’s going on is far bigger than the market I hate to say. And Joe Biden is the perfect vehicle to get all this done.


14 posted on 05/11/2022 1:52:09 PM PDT by magua (It's not racism, it's just that thisBecause it’s being reported that a lot of this started in 2015. )
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To: mikelets456
I don't know about you, but my power rate went through the roof YOY.

April 2021 bill: 10.3 cents per kWh after rate riders, taxes, etc.
April 2022 bill: 13.4 cents per kWH -- a 30% increase!

15 posted on 05/11/2022 1:53:51 PM PDT by Tell It Right (1st Thessalonians 5:21 -- Put everything to the test, hold fast to that which is true.)
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To: Tell It Right

Our trade deficit is also ballooning. Basically, we are now exporting mostly dollars.


16 posted on 05/11/2022 1:58:35 PM PDT by Huskrrrr (Alinsky, you magnificent Bastard, I read your book!)
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To: cranked

“Yeah, and to think many people and retirees watched helplessly as their 401K, etc. got wrecked under ObamaIdiot and the housing bubble pop...”

As soon as Biden took office, I reposition 90% of 401k into a stable value funds. I am only down .097%.

Looking at buying some I Bonds on the side. Those are paying 9.62% and State/local tax free when I cash out. Those go up with inflation.


17 posted on 05/11/2022 1:59:58 PM PDT by DEPcom (Make the enemy live up to its own book of rules)
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To: DEPcom

Correction .97 not .097


18 posted on 05/11/2022 2:00:47 PM PDT by DEPcom (Make the enemy live up to its own book of rules)
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To: DEPcom

That is you, and I am happy for you.
That said, what you have done or may do does not negate the millions of others that are getting wrecked, yeah?


19 posted on 05/11/2022 2:02:00 PM PDT by cranked
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To: Tell It Right

“April 2022 bill: 13.4 cents per kWH — a 30% increase!”

I just noticed that on my power bill today. Seriously thinking about setting up power generation on the river in front of my house now.


20 posted on 05/11/2022 2:02:06 PM PDT by DEPcom (Make the enemy live up to its own book of rules)
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