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Thu Dec 20, 2018, 05:41 PM

Dow dives nearly 500 points after White House ups the chance of government shutdown

Source: The Washington Post



By Thomas Heath December 20 at 4:03 PM

Trailing on a global rout, U.S. stocks dropped deep into the red as investors digested the Federal Reserve’s rate increase and its softer outlook for 2019.

They sunk deeper still on the news that President Trump would not sign the spending bill that would avert a government shutdown. Also lurking are growing concerns about a slowdown in the global economy.

The Dow plummeted nearly 464 points, or 2 percent, to close at 22,859. The Standard & Poor’s 500-stock index was down 1.6 percent. The tech-heavy Nasdaq composite was off 1.6 percent — and has dropped into a bear market — or more than 20 percent below its high.

“Investors were discouraged by the lump of coal they got in their pre-holiday stockings from Fed Chair Powell,” said Sam Stovall, investment strategist at CFRA. “The street was expecting a more dovish-sounding outlook. The Fed is basically saying that with the economy as strong as it is, it can withstand two additional hikes next year. A lot of investors expected the Fed to say, ‘One and done.’”

Read more: https://www.washingtonpost.com/business/economy/us-stocks-extend-losses-as-traders-digest-fed-news/2018/12/20/cf3edfd2-0464-11e9-9122-82e98f91ee6f_story.html?utm_term=.19cc67d08868&wpisrc=al_news__alert-economy--alert-politics--alert-national&wpmk=1

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Reply Dow dives nearly 500 points after White House ups the chance of government shutdown (Original post)
DonViejo Dec 2018 OP
John Fante Dec 2018 #1
dem4decades Dec 2018 #2
Racerdog1 Dec 2018 #3
Yo_Mama_Been_Loggin Dec 2018 #4
jmowreader Dec 2018 #5
ck4829 Dec 2018 #6
itcfish Dec 2018 #7
Rizen Dec 2018 #8

Response to DonViejo (Original post)

Thu Dec 20, 2018, 05:53 PM

1. Total stock market growth since Gump took office: 13.3%

Mediocre. Pathetic. Trumpian.

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Response to DonViejo (Original post)

Thu Dec 20, 2018, 06:00 PM

2. Can we stop winning soon?

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Response to DonViejo (Original post)

Thu Dec 20, 2018, 07:18 PM

3. Trump Slump

 

Just like everything this orange plague puts his tiny little hands on, it dies. Hope he is next.

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Response to DonViejo (Original post)

Thu Dec 20, 2018, 10:04 PM

4. Winning baby!

So much winning!

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Response to DonViejo (Original post)

Thu Dec 20, 2018, 10:19 PM

5. The Dow is now only 3127 higher than the last day of the Obama Administration

Pretty soon the people who own Republican congressmen are going to get tired of all this winning.

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Response to DonViejo (Original post)

Wed Dec 26, 2018, 10:48 AM

6. Kick

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Response to DonViejo (Original post)

Wed Dec 26, 2018, 01:55 PM

7. I Guess Wall Street

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Response to DonViejo (Original post)

Wed Dec 26, 2018, 02:26 PM

8. I saw an artical where Dems blames Trump for this

and the shutdown. That's what we need to do: go on the offensive. Republicans controlled the entire government and they should take the blame.

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