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SELLOFF: Dow drops 1,000 points, Nasdaq craters 6% in global market rout: Live updates
CNBC Live ^ | 05 AUG 2024 | Hakyung Kim John Melloy Sarah Min

Posted on 08/05/2024 6:53:48 AM PDT by DCBryan1

U.S. stocks fell sharply on Monday as part of a global market sell-off centered around U.S. recession fears. Japan’s Nikkei 225 plunged 12% in its worst day since the 1987 Black Monday crash for Wall Street.

The Dow Jones Industrial Average dropped 1,068 points, or 2.7%. The Nasdaq Composite lost 6%, and the S&P 500 slid 4.2%.

Fears of a U.S. recession were the main culprit for the global market meltdown after Friday’s disappointing July jobs report. Investors are also concerned that the Federal Reserve is behind in cutting interest rates to bolster an economic slowdown, with the central bank choosing instead to keep rates at the highest in two decades last week.

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


TOPICS: Breaking News; Business/Economy; Crime/Corruption; Government; News/Current Events
KEYWORDS: bidenomics; bidenrecession; dow; israel; itstheeconomystupid; kamalacrash; oilprices; preppers; recession; selloff; war
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This is when smart people get rich. Don't worry.

This is gonna hurt Commie-la and Braindead.

What are you guys buying?

Tech is getting smashed. Thinking of buying some INTC and FBTC


1 posted on 08/05/2024 6:53:48 AM PDT by DCBryan1
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To: DCBryan1

The realization that AI isn’t the path to riches has finally sunk in.


2 posted on 08/05/2024 6:54:56 AM PDT by dfwgator (Endut! Hoch Hech!)
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To: DCBryan1

I wonder if the moron who has his 9 point or 11 point election prediction is going to remove this from Klammy’s column?


3 posted on 08/05/2024 6:57:57 AM PDT by frogjerk (More people have died trusting the government than not trusting the government.)
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To: DCBryan1

Let’s go Brandon!

Let’s go Democrats!


4 posted on 08/05/2024 6:58:00 AM PDT by blueunicorn6 ("A crack shot and a good dancer” )
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To: DCBryan1
This is when smart people get rich. Don't worry.

This is when the greedy retail investor ("gambler") decides to catch falling knives, without understanding the global marketplace.

5 posted on 08/05/2024 6:58:07 AM PDT by politicket
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To: DCBryan1

I don’t think it has stopped falling. Could this be a 30% pullback or worse?


6 posted on 08/05/2024 6:58:08 AM PDT by MtnClimber (For photos of scenery and wildlife, click on my screen name for my FR home page. More photos added.)
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To: DCBryan1

So bidenomics not working for them anymore?


7 posted on 08/05/2024 6:58:31 AM PDT by Democrat = party of treason
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To: DCBryan1

INTC is awful, they were handed 8.5 billion through the chips program and they have no plan for how to grow their chip manufacturing business. I think it will take a few years for them. May as well let your money grown in the meantime. NVDA may be trading in the 80$ range. I’d be a buyer there. Ford at $9, why not.


8 posted on 08/05/2024 6:58:56 AM PDT by wiseprince (Me)
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To: DCBryan1

The excrement meets the fan.


9 posted on 08/05/2024 6:59:46 AM PDT by Nextrush (FREEDOM IS EVERYBODY'S BUSINESS-REMEMBER REV. NIEMOLLER)
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To: dfwgator

“AI isn’t the path to riches…”

.

First it’s solar panels crashing, then wind power - There is no end to the destruction…


10 posted on 08/05/2024 7:00:16 AM PDT by GaltAdonis
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To: blueunicorn6

Bidenomics! ™
Kamaleconomy! ™
New Green Deal! ™


11 posted on 08/05/2024 7:00:23 AM PDT by AbolishCSEU (Amount of "child" support paid is inversely proportionate to mother's actual parenting of children)
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To: dfwgator
Red ink across the board!

Steps for success:

1)Take a deep breath, if you have solid companies with great balance books and dividends, that the world can't live without.

2) Go on a hunt. Every dip is an opportunity. Buy companies that George Soros and China can't muck with.

3) Look in the mirror. If you are ok with losses and willing to buy on a down turn, do it. (Be sure to do limit order vs market order if highly volatile)

12 posted on 08/05/2024 7:00:55 AM PDT by DCBryan1 (Inter arma enim silent leges! - Cicero )
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To: Democrat = party of treason

These BS leftist policies are literally killing us-—our business, started in 1932, is on the brink of no longer being in business.

I’m tired of these gaslighting minions making it sound as if “all is good”.


13 posted on 08/05/2024 7:01:02 AM PDT by mikelets456
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To: GaltAdonis

Don’t forget EVs


14 posted on 08/05/2024 7:01:12 AM PDT by V_TWIN (America...so great even the people that hate it refuse to leave!)
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To: mikelets456

“These BS leftist policies are literally killing us”

Well, that IS the plan.


15 posted on 08/05/2024 7:02:15 AM PDT by V_TWIN (America...so great even the people that hate it refuse to leave!)
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To: wiseprince

I was ready to buy INTC if Taiwan was invaded...INTC would have been cut in half. I may buy today, but will wait and see if IDF pops off a couple of tactical nukes this week. May buy AAPL and MSFT...both have AAA rated balance books.


16 posted on 08/05/2024 7:02:22 AM PDT by DCBryan1 (Inter arma enim silent leges! - Cicero )
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To: DCBryan1

Likely just a reaction to the possibility — as unlikely as it may be in the end — of an outright communist being elected president.


17 posted on 08/05/2024 7:02:23 AM PDT by glennaro (2024: The Year of The Reckoning, lest our Republic succumb to the "progressive" disease of the Left)
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To: MtnClimber

There are about 7 more hours to go so we’re going to find out.


18 posted on 08/05/2024 7:03:05 AM PDT by laplata (They want each crisis to take the greatest toll possible.)
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To: AbolishCSEU

Bidenomics! ™
Kamaleconomy! ™
New Green Deal! ™

I’m amazed, with so many people complaining how bad everything is-—they’re excited with Kamala and think she’ll turn things around.
It’s not stupidity anymore, it’s compliance and acceptance of Communism.


19 posted on 08/05/2024 7:03:19 AM PDT by mikelets456
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To: DCBryan1

Has KamalaHo blamed this on Trump yet?


20 posted on 08/05/2024 7:03:53 AM PDT by GrandJediMasterYoda (As long as Hillary Clinton remains free, the USA will never have equal justice under the law)
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