Posted on 02/05/2018 12:54:55 PM PST by SeekAndFind
The Dow Jones Industrial Average has plunged by nearly 1,500 points in a day of volatile trading that has rattled global markets.
The leading US stock market index is down more than 5.8% at 24,025.33.
It is the worst one day fall in points since September 2008 during the depths of the financial crisis.
The decline extends losses on Friday, when strong wage growth data raised the prospect of accelerated interest rate rises.
Monday's sell-off surpasses a 777.68 points drop on the Dow Jones on 29 September 2008 when Congress rejected a $700bn bank bailout plan following the collapse of US investment bank Lehman Brothers.
The Dow was closely followed by the wider S&P 500 stock index, down 2.6% and the technology-heavy Nasdaq, down 2%.
London's main share index, the FTSE 100, closed down 1.46% while earlier, the biggest markets in Asia fell between 1% and 2.5%.
The decline followed months of market increases, which had fuelled concerns that share prices were over valued.
The Dow, which tracks 30 major US companies, has fallen more than 1,000 points over two days of trading.
The Dow dramatic fall marks a turnaround from January, when it raced raced past the 25,000 point and 26,000 point milestones in less than a month.
David Madden, market analyst at CMC Markets, said: "Equity traders were enjoying a bullish run recently, and the jolt from the major decline in the US last Friday has triggered a worldwide round of profit taking."
(Excerpt) Read more at bbc.com ...
NONONONO
Buy LOW
sell HIGH
Can’t you remember anything?
The Dow went right through the 50 day moving average today, which is often where money starts coming back in to the market. The 200 day moving average, which is a much stronger level of support, is at about 23,000. I predict a bounce off of that if it goes down any more. If it blows through 23,000 - look out below!
Soros and Buffett have many money manager friends on Wall Street that may be more than happy to do their bidding. One wonders did Soros and Buffett “engineer” the 2008 stock market crash to benefit them in the long run (Soros is supposedly now worth US$26 billion, a lot of it gained in recent years by buying a lot of stocks on the cheap like what Joseph P. Kennedy used to back in the early 1930’s).
not look out below. u make it sound like 2008
Two weeks ago, David Stockman pointed out that it had been 395 trading days since the last time the stock market had a 5% drop—the longest such gap in all of recorded history.
It’s hard to understand the New Market.
Computers have taken over and there is a combination of levels that triggered on Friday.
We will never have those algos. I am staying put and may increase.
I think the algo’s kicked in at -1500.
It was back to -900 in 5 minutes.
That’s Whack!
With the tax bill, and no cuts, there is no money to pay for infrastructure.
None.
We need to stop spending money we don’t have, or bring in more money.
“not look out below. u make it sound like 2008”
Actually, I think it’s going to go down no further than the 200 day moving average. I’m just saying that if it breaks the 200 day moving average support line, you could see a 2008ish scenario. I don’t think that will happen, but I’m keeping my eyes open. Dow futures are up a bit right now, which is a hopeful sign for a bounce tomorrow.
The release of the Memo is reason for market tanking now.
The NWO/Left are Rothchilds, JP Morgan type bankers, Bildebergers, and Trillionaires, who control markets with their buying and selling. Most crashes are manipulated.
This is in retaliation toward Trump and Conservatives. Once regular people buy in, things will regroup...it always does, eventually! And the elite will buy back in, at lower prices in the meantime!
Dont think any of the actual market curbs were ever hit. You might be thinking of automatic orders to buy or sell. These hit some sort of crescendo today. I think they are still trying to figure it out.
Ultimately, allowing interest rate to rise to their natural economically determined level is healthy for the economy.
I Hated studying puts and calls yuk. So the wizards of smarts bet against the Trump economy many of us saw coming and they had to sell to cover their ass? Love to know their political centricity....
No sale; cut spending to the Constitutionally enumerated bone and let the States deal with their “pet projects”.
The VIX is a volatility index. They were betting that stocks would stay at about the same price, and not go up and down much.
Even more so...
* Will the "Bernake Twist" be unwound?
* AKA, destroying the normal yield curve so they could spend like their is no tommorrow and stick it Seniors needing yield which forced them to look at Dividend Paying Stocks?
* Remember when the Germans downgraded us and Obama started monetizing our debt aka the Fed buying Treasuries?
Will all this C&it get unwound and undone with our new Fed Chair?
Does anyone guess what a mucking-fess this is that Obama left us?
I always thought the VIX was a put against the market basket, thanks for the correction...
Not even close. The market is 25 Trillion.
The market is moody, I’ll give you that. It was a high sell.
401 types need to stay put. It was a money grab.
HMMM Russian collusion falling apart now the international financiers trying another tactic?
Seriously. I don’t know. Ask one of the market gurus on FR.
He starts a trend.
Like in the example of a human stampede the person who starts it doesn’t control everyone involved, he just starts a trend and the lemmings follow.
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