Posted on 12/18/2024 2:08:46 PM PST by Steven Scharf
Dow ends down over 1,100 points to suffer its worst day since August after hawkish Fed rate outlook By Isabel Wang
U.S. stocks finished lower on Wednesday, with the Dow Jones Industrial Average posting its worst day in over four months after the Federal Reserve decided to lower its benchmark interest rate by 25 basis points but reduced its forecast for further rate cuts in 2025.
The Dow fell 1,123.03 points, or 2.6%, to end at 42,326.87. The blue-chip index fell for a 10th straight session, logging its longest losing streak since October 1974, according to Dow Jones Market Data.
The S&P 500 was off 178.45 points, or nearly 3%, to finish at 5,872.16. The large-cap index suffered its largest one-day point decline since 2020 and its largest one-day percentage fall since Aug. 5, according to Dow Jones Market Data.
The Nasdaq Composite tumbled 716.37 points, or nearly 3.6%, ending at 19,392.69. It was the largest one-day percentage drop for the tech-heavy index since July 24, according to Dow Jones Market Data.
(Excerpt) Read more at marketwatch.com ...
The high was on December 4, 2024 when the Dow closed at 45,014 Today: 42,326 = -2,688 point loss in 10 days. I am glad I don't follow the market day to day.
In the other thread a comment was made that the start and end numbers are never posted. I have rectified that with this post.
They have to wait until next month to blame Trump.
Right. Right?
I bet a lot of it is from Congress’s purposeful spending spree stopgap budget plan.
I guess the bloom is off the rose
Jerome Powell went on his lil Biden ass licking by saying “The recession worries are over” then BAM, reality
This was so ridiculously overdue.
Thanks for posting.
I know I maybe naive, but as Scarlett Ohara said, ‘tomorrow is another day”.
Almost like this was the plan since 11/4.
That Fed creep did everything he could to boost Biden and then Harris in time for the election.
One news update this morning said he is pulling back from policies because of the anticipations of Donald Trump’s economic programs. So SABOTAGE as usual?
Why doesn’t he do something about his compulsive head scratching. Does he have dandruff or another scalp condition?
Trips to Thailand.
The Dow must be a ways above 48,000 at the end of Biden’s term to equal the Dow percentage rise Trump 45 attained in his 1st term.
A week ago or so I mentioned I feared a huge drop, and pulled out of some stocks into cash. People said I was crazy in the runup of the market. There was too much bad stuff happening, thanks to Biden and Dems.
Biden administration trying to make things bad for Trump so nothing new.
End the fed would be the smart thing and get back to the gold standard.
should only be the beginning, but... no worries! the Kant Krash Krew is getting ready to put in some OT
“This was so ridiculously overdue.”
And hopefully more to come.
Park cash on the sidelines and wait...
Well, duh.
Some congresscritters probably cleaned up nicely today.
There was no call for the fed to cut the rate then ‘forecast’ that there would only be 2 rate cuts next year when they are incapable of forecasting the conditions which might qualify a rate cut.
Big hit. what is hawkish in the headline. A bear with wings?
There was no call for the fed to cut the rate then ‘forecast’ that there would only be 2 rate cuts next year when they are incapable of forecasting the conditions which might qualify a rate cut.>>> Yes its weird. Vivek was going to put fed back to monetary policy only not unemployment, etc. We’ll see if he can do something but. DOGE Their approach so far has been so stupid. Get back to work. NO let them all work at home. sell the properties. virtualize the whole system then do away with DC.
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