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  1. #1 Dow drops nearly 550 points, sending its two-day loss total to nearly 1,400 points 
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    DonViejo (49,107 posts)

    Dow drops nearly 550 points, sending its two-day loss total to nearly 1,400 points

    Source: The Washington Post


    By Taylor Telford, Anna Fifield and Gerry Shih October 11 at 4:03 PM

    U.S. markets suffered deeper losses Thursday, following on a global rout as investors lost their nerve over rising U.S. interest rates and fresh worries about an economic slowdown.

    Concerns about U.S.-China ties weighed heavily, too. U.S. markets rebounded briefly after it was announced that President Trump would meet with Chinese leader Xi Jinping at next month’s G-20 summit in Buenos Aires to discuss the intensifying trade conflict.

    The Dow Jones industrial average ended the day down 2.1 percent, or 546 points, pushing the two day loss to nearly 1,400 points. The broad-index Standard & Poor’s 500-stock index was off 2 percent. The tech-heavy Nasdaq notched its second day of trouble with a 1.3 percent loss.

    The markets landed in the red despite a government report that showed consumer prices rose less than expected last month. U.S. consumer prices rose 0.1 percent in September, following a 0.2 percent increase in August.

    Read more: https://www.washingtonpost.com/world...570_story.html



    Wall St. Extends Drop Into Sixth Day After Global Sell-Off

    By Alexandra Stevenson, Jack Ewing and Matt Phillips
    Oct. 11, 2018

    Wall Street tumbled again on Thursday, as choppy trading gave way to broad-based stock declines late in the afternoon.

    Investors are contending with multiple concerns, including rising borrowing costs that could dampen economic growth and growing tensions between Beijing and Washington. Worries about rising interest rates eased briefly early in the day after a report showing muted inflation helped send yields on government bonds lower.

    But jitters emerged again in the afternoon, when declines in the Standard & Poor’s 500-stock index began to gather pace. Shortly before 3 p.m. the broad index was again down more than 2 percent. That was on top of a 3.3 percent decline the day before. The S. & P. 500, the market benchmark, closed lower on Thursday, its sixth straight daily decline.

    “The global economy and markets are in a delicate situation,” said Carsten Brzeski, chief economist at ING Bank in Frankfurt. “While the status quo is still good, risks are increasing.”

    more
    https://www.nytimes.com/2018/10/11/b...et-global.html
    They are so stupid. This was precipitated by the fed increasing the interest rate. The
    ENTIRE 8 years Obama was President the interest rate was near 0% BECAUSE THE ECONOMY WAS SO TERRIBLE. Since President Trump has been President the interest rate has been increased 3 or 4 times BECAUSE THE ECONOMY IS DOING SO WELL.

    Farmer-Rick (1,340 posts)

    2. Thanks Traitor Trump. You knew he was going to break the economy.

    He broke everything else.
    groundloop (6,719 posts)

    6. Time for Democrats to rescue the economy again (and not get credit for it)

    Once again, right on schedule, a Repuke administration is screwing up our economy with yet another version of trickle down smoke and mirrors black magic. A Democratic administration will fix it AGAIN, but the fixes won't take hold as fast as everyone wants ....... (have we seen this horror film before, or what?).
    Right. LOL. The Jack*sses actually think Obama - worst recovery recorded history - "rescued the economy".
    truthisfreedom (21,362 posts)

    7. And trump blamed the Fed, refusing to acknowledge his own failure

    Fail fail fail. Lie lie lie
    Because it's true. Jack*ss Obama was clueless or - his goal was to make sure as many people as possible were on welfare and dependent on the government and Democrats as possible. The economy has been going gangbusters ONLY since President Trump was elected and he got rid of onerous regulations that stifled the economy.

    beachbum bob (7,549 posts)

    11. We are at a precipice as IF this a start of long awaited correction,

    We could see another 3000 points or more come off the market. Trump and GOP will of course start blaming democrats and the coming blue wave as instilling the market sell off...why candidates NOW must go on the offense against trump and GOP on causing this from their failed economic policies and trade wars...don't let them get ahead in the blame game.
    empedocles (1,383 posts)

    13. 30 yr mortgage rates have climbed from a low of 3.41 to 4.9%

    What will that do to the housing markets? Lot less house for the same price.

    [30 year interest rates are set, not by the Fed, by by markets long term anticipations/projections.]
    IronLionZion (23,241 posts)

    16. Listen to Alison Krosik explain why the Fed has to raise rates

    Dipshit's tax cuts were pouring gasoline on a hot economy and it is overheating. Rates have to rise to avoid inflation.

    https://www.cnn.com/2018/10/11/inves...day/index.html

    And the Fed has to reduce their stimulus so that they would have the tools to help when the next crisis happens. Except this time, we are deeper in debt than ever before and won't have tax dollars available for stimulus. The GOP is going to wreck our economy and leave Dems with the tab. When a future Dem president inherits a broken economy and attempts to fix it, we'll hear the GOP obstruct because of the debt. Just like they did with Obama.
    Yes, Jack*sses say this even as they said NOTHING about Obama increasing the debt more than ALL the previous Presidents COMBINED. Now they claim they "care". Jack*sses love it when there is record number of people on food stamps and out of work.
    raccoon (26,646 posts)

    19. Thanks, Dotard. Nt
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  2. #2  
    Senior Member SVPete's Avatar
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    Farmer-Rick (1,340 posts)

    2. Thanks Traitor Trump. You knew he was going to break the economy.
    Trump doesn't control what the Fed does, moron!
    Facts don't matter to DUpipo.

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  3. #3  
    Festivus Moderator ralph wiggum's Avatar
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    Economic nonsense from DUmmies as usual, and expected. If I or anyone tried to explain it, they still wouldn't understand.
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    eeeevil Sith Admin SarasotaRepub's Avatar
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    If the economy tanks and hurts Trump
    (and everyone else) they are...HAPPY!!!
    May the FORCE be with you!
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  5. #5  
    Power CUer FlaGator's Avatar
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    it's all they got.
    Liberals! The real fascists.
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  6. #6  
    Senior Member SVPete's Avatar
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    The stock market is very predictable. On any given day it will go up, go down, or stay the same. On many days it does all three.

    A year ago the Fed's "target rate" was 1%. It's been bumped several times, up over 2%, with signals it is likely to go higher.

    1. This changes the costs of doing business;

    2. This affects consumers' choices, especially long-term high cost choices, like housing, like cars, like computers, etc.;

    3. This injected uncertainty and unknown risks - business poisons; if the Fed may increase the risks entailed in growth and expansion, as a whole, that will decrease growth due to businesses' caution;

    4. The Fed increased business cost and uncertainty a week after the Kavanaugh victory and four weeks before an election; nothing forced that timing, so it justifiably has the appearance of a combination October Surprise and an attempt to memory-hole the slander-assault on Kavanaugh.
    Facts don't matter to DUpipo.

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  7. #7  
    Festivus Moderator ralph wiggum's Avatar
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    Quote Originally Posted by SVPete View Post
    The stock market is very predictable. On any given day it will go up, go down, or stay the same. On many days it does all three.

    A year ago the Fed's "target rate" was 1%. It's been bumped several times, up over 2%, with signals it is likely to go higher.

    1. This changes the costs of doing business;

    2. This affects consumers' choices, especially long-term high cost choices, like housing, like cars, like computers, etc.;

    3. This injected uncertainty and unknown risks - business poisons; if the Fed may increase the risks entailed in growth and expansion, as a whole, that will decrease growth due to businesses' caution;

    4. The Fed increased business cost and uncertainty a week after the Kavanaugh victory and four weeks before an election; nothing forced that timing, so it justifiably has the appearance of a combination October Surprise and an attempt to memory-hole the slander-assault on Kavanaugh.
    Don't bother with explanations. Only about a literal handful of leftists anywhere can even comprehend economics or the stock market. Yet the media never brings up the market until it surges under Democrat power or declines under a Republican.
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  8. #8  
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    Doesn't the timing seem odd? Is it coincidental that it's happening before the mid-terms? I can't help but wonder about all those Wall Street backers of the Hildabeast. The Dems will stop at nothing to try to regain power. Hurting Americans doesn't seem to bother them.

    Perhaps it should be viewed as a buying opportunity. I suspect the market will soar after the Republicans beat down the lies of the Dems and trounce them in a red wave.
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  9. #9  
    Senior Member SVPete's Avatar
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    Quote Originally Posted by ralph wiggum View Post
    Don't bother with explanations. Only about a literal handful of leftists anywhere can even comprehend economics or the stock market. Yet the media never brings up the market until it surges under Democrat power or declines under a Republican.
    It is kind of amusing, if you think of it. DUpipo-grade Progs have been pooh-poohing the past 21 or 22 months of the stock market rising as insignificant, but when it's down for several days all of a sudden it's a sign that Trump "broke the economy".
    Facts don't matter to DUpipo.

    BIG CHEETO Is Watching You!

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  10. #10  
    Power CUer NJCardFan's Avatar
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    Yep. Dow dropped 1,400 points over 2 days but guess what? It's still 5,000 points higher than at any time under Obama.
    The American Left: Where everything is politics and politics is everything.
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