Dow down more than 450 points on recession fears

The Hill ^ | 09/29/2022 | ZACH SCHONFELD

[ChicagoConservative27]

Stocks dropped steeply on Thursday as investors showed fears of a potential recession and currency volatility, erasing gains made during Wednesday’s rally.

The Dow Jones Industrial Average dropped by more than 450 points, or 1.5 percent, to 29,227, while the Nasdaq fell by 2.8 percent and the New York Stock Exchange sunk by 1.6 percent when markets closed Thursday.

[dsrtsage]

And we are supposed to believe the demonrats are surging for the midterms

[dsrtsage]

At least there are no more mean tweets

[nascarnation]

It’s abortion and 20 grand in student loan forgiveness.

We’ll see how effective it is in Nov.

[Shady]

The Dow is down 10,000 points under whomever is playing “Joe” in the White Basement. FJB/LGB/ETC.

[palmer]

Recession is one way to tame inflation. Not pretty but should produce some counteracting deflation.

[The Louiswu]

Make it rain sleepy Joe, make it rain. Stimmies fir everyone!!

[DoughtyOne]

We’re not quite half-way into Biden’s term, and if anything
we’re seeing the DJIA speeding up on the way down. (That’s
my take. I may be off on that.) We’ll see.

We haven’t reached panic stage yet, but if we do head into
the 25k range, I think there may be some mass departures
from stocks.

It will be a good time to buy some deals, but we could see
some big names go down. What do you invest in? Good luck.

[DoughtyOne]

Okay,... we’ll see how it goes.

[Theoria]

October on deck. October, historically is full of bad days. More pain[reality, correction] on the way.

[Shady]

And the cost of living will double or triple…at least.

[ConservativeInPA]

I think there may be some mass departures from stocks.

To where? The bond market is eff’d too. Precious metals won’t go up due a downturn in the tech sector - they are the largest consumer of precious metals in the world. So there is also a wait there until equities bottom out.

[DoughtyOne]

Well, even with inflation, it’s better to lose a few percent
over a few months, than 20-30%.

Some folks sill simply liquidate and hold.

Then they can buy in after more crashing...

[CivilWarBrewing]

"..fears of a recession.."

ROFL! We're IN a recession.

[SmokingJoe]

Dementia Joe's “Inflation Reduction Act” in action. Venezuela says, “hello.
You can only spend so much of money you don't have and are just printing, with very little to back it up.

[DoughtyOne]

I’m merely speculating. I could be wrong. The market could
see a short rally starting this minute for all we know. I
don’t see that happening, but who knows.

I’ll be the first one to say my opinions generally seem to
be 100% opposite of how the market trends, as long as I have
money on it.

If I don’t, I’m pretty accurate.

[TexasGator]

“Essentially, Biden’s policies just wiped out all the gains since November 2016.”

My biggest holding, ETN green today. Up 120% plus dividends since 2016.

My CVX up 45% plus dividends.

JPM 75% +

CSX 242% +

CNI 100% +

[SmokingJoe]

How’d that work out during The Great Depression? Or in 2008?

[DoughtyOne]

Sitting out?

I find it harder to keep all my investment funds in, then
when the bottom hits, I don’t have extra to invest.

Once in a while you have to pull some out or you can’t
take advantage of basement prices.

[ConservativeInPA]

I’ll be the first one to say my opinions generally seem to be 100% opposite of how the market trends, as long as I have money on it.

You could make a fortune in selling anti-advice. Oops, Jim Cramer already does that.

[DoughtyOne]

It’s true. I’ve laughed at that thought myself.