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Wed Aug 14, 2019, 04:45 PM

Dow drops 800 points, marking worst day for stock market this year

This discussion thread was locked as off-topic by Yonnie3 (a host of the Latest Breaking News forum).

Source: ABC News

The Dow Jones Industrial Average plummeted more than 800 points on Wednesday, as investors suffered their worst day of the year as new concerns arose over data on global economic growth.

The tumble followed a series of concerning economic indicators from Germany and China, signaling renewed recession fears in the global economy.

One big piece of news came when the yield on 10-year U.S. Treasury notes dipped below the yield of two-year U.S. Treasury notes, a rare occurrence described by market watchers as an "inverted yield curve." The 30-year U.S. Treasury bond also hit a new record low on Wednesday.

<snip>

The growing trade fight between the two countries has intensified in recent weeks after President Donald Trump accused China of manipulating its currency. His comments came just days after he threatened to levy tariffs on about $300 billion of Chinese goods, extending existing tariffs.

Read more: https://abcnews.go.com/US/dow-drops-600-points-roller-coaster-markets-continues/story?id=64969484&cid=clicksource_4380645_null_hero_hed



So much winning I can't stand it.

26 replies, 1580 views

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Reply Dow drops 800 points, marking worst day for stock market this year (Original post)
groundloop Aug 14 OP
dem4decades Aug 14 #1
PoindexterOglethorpe Aug 14 #2
essme Aug 14 #4
HiloHatti Aug 14 #6
PoindexterOglethorpe Aug 14 #9
Politicub Aug 14 #14
progree Aug 14 #17
duforsure Aug 14 #3
dchill Aug 14 #5
TheFarseer Aug 14 #7
The Velveteen Ocelot Aug 14 #12
TheFarseer Aug 14 #13
bucolic_frolic Aug 14 #8
yaesu Aug 14 #10
Joe Nation Aug 14 #11
progree Aug 14 #15
orangecrush Aug 14 #16
progree Aug 14 #18
mahatmakanejeeves Aug 14 #19
RainCaster Aug 14 #20
trof Aug 14 #21
oldsoftie Aug 14 #22
Gothmog Aug 14 #23
throwthe_shoe Aug 14 #24
Hotler Aug 14 #25
Yonnie3 Aug 14 #26

Response to groundloop (Original post)

Wed Aug 14, 2019, 04:47 PM

1. Or as Trump likes to put it. A GREAT stock drop. Some say the greatest.

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Response to groundloop (Original post)

Wed Aug 14, 2019, 04:48 PM

2. Buying opportunity,

if you have cash.

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Response to PoindexterOglethorpe (Reply #2)

Wed Aug 14, 2019, 05:01 PM

4. Not yet

It's going to go lower.

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Response to PoindexterOglethorpe (Reply #2)

Wed Aug 14, 2019, 05:03 PM

6. If you Go Short

The markets are still overbought with much more opportunity to make money by shorting the market. Thereís still much pain to come as the World economy growth comes to a screeching halt with Trumpís volatility and unpredictability leading the way.

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Response to HiloHatti (Reply #6)

Wed Aug 14, 2019, 05:12 PM

9. I'm of the buy and hold for the long term persuasion.

That said, I am satisfied with my current investments and have no plans to be buying anytime soon.

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Response to PoindexterOglethorpe (Reply #2)

Wed Aug 14, 2019, 05:28 PM

14. No one knows for sure

Todayís could be a blip or a harbinger of a wider economic contraction.

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Response to PoindexterOglethorpe (Reply #2)

Wed Aug 14, 2019, 05:37 PM

17. I'm waiting for the S&P 500 to drop 30% from the all time peak, and then I'll sell my bond funds

and buy stock mutual funds. Currently I'm about 6:1 stock funds : bond funds ratio, but will get rid of the "1" when the 30% drop is reached (at an S&P 500 of 2118).

3026 S&P 500 all time peak (July 26)
2841 Today's close
Down 6.1% (not even correction territory)

https://finance.yahoo.com/quote/%5EGSPC/history?p=%5EGSPC

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Response to groundloop (Original post)

Wed Aug 14, 2019, 04:58 PM

3. Let the trump lies and excuses begin

Which he's responsible for, and this is just the start of the trump slump.

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Response to groundloop (Original post)

Wed Aug 14, 2019, 05:02 PM

5. Cue the Blame Game Tweet Storm.

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Response to groundloop (Original post)

Wed Aug 14, 2019, 05:07 PM

7. I don't even blame Trump

Itís mostly the global economic cycle in action. The recession will be worse though because his tax cuts blew the bubble bigger and the Fed has little ammunition left to fight a recession thanks to his whining and meddling with rates. It was ludicrous for him to take credit for markets going up and ludicrous for him to blame the Fed now.

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Response to TheFarseer (Reply #7)

Wed Aug 14, 2019, 05:19 PM

12. Regardless, he owns it; he took credit for the market's gains.

So, he'll be stuck with the blame if the market keeps falling and a recession happens.

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Response to The Velveteen Ocelot (Reply #12)

Wed Aug 14, 2019, 05:25 PM

13. Damn right!

Exactly my thinking

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Response to groundloop (Original post)

Wed Aug 14, 2019, 05:08 PM

8. 1,000 points down to the June lows, then a bounce

or 3,000 points to the December 2018 lows, then a bounce

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Response to groundloop (Original post)

Wed Aug 14, 2019, 05:13 PM

10. but, but, but the yuge tax cut!!! nt

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Response to groundloop (Original post)

Wed Aug 14, 2019, 05:17 PM

11. Buckle up! Everything tRump touches turns to shit.

The U.S. Economy is no different under his tutelage.

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Response to groundloop (Original post)

Wed Aug 14, 2019, 05:28 PM

15. The 30-year T Bond did NOT hit a new record low. It's yield did. That's a big difference

When yield drops, the value of a bond rises. Bond yields and bond prices move in opposite directions.

One big piece of news came when the yield on 10-year U.S. Treasury notes dipped below the yield of two-year U.S. Treasury notes, a rare occurrence described by market watchers as an "inverted yield curve." The 30-year U.S. Treasury bond also hit a new record low on Wednesday.


Nope, au contraire, its price rose. But the yield hit a new record low. 2.06%. .

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Response to groundloop (Original post)

Wed Aug 14, 2019, 05:30 PM

16. Went through this with Bush



Deja Vu.

People never learn.

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Response to orangecrush (Reply #16)

Wed Aug 14, 2019, 05:50 PM

18. Yup. The S&P 500 declined 37% under Bush, the Dow declined 22%

measuring from the last close before inaugural day in 2001 and 2009.

http://www.democraticunderground.com/111622439#post4

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Response to groundloop (Original post)

Wed Aug 14, 2019, 06:02 PM

19. Unlike others, our economy is strong!

Unlike others, our economy is strong!


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Response to groundloop (Original post)

Wed Aug 14, 2019, 06:57 PM

20. Reuters says this "has Donald Trump's fingerprints all over it"

The financial world can see where this "winning" came from, that Orange A-hole in the White House.

NEW YORK (Reuters Breakingviews) - A U.S. recession warning from financial markets has Donald Trumpís fingerprints all over it. A key bond market metric turned negative for the first time since 2007 on Wednesday, sending stocks tumbling. Other economic indicators in the United States and abroad are deteriorating. The common thread linking these is the presidentís trade war.

The U.S. economy started the year with a good head of steam. Growth hit a three-year high of 2.9% in 2018, corporate coffers were swelling from the tax cuts the president signed into law a year earlier, and unemployment stood at the lowest level in nearly a half century. Sluggish growth overseas and a negative market reaction to the Federal Reserveís December rate hike suggested some fragility, but virtually nobody was predicting a recession before 2021.

The White House has since escalated trade tensions, with Trump twice in the past three months announcing tariff increases affecting some $500 billion of imports from China.

As a result the yield on the Treasuryís benchmark 10-year note has since early May fallen by nearly a percentage point, to 1.59% Wednesday afternoon. Earlier in the day it briefly traded below the return on the Treasuryís 2-year note, something investors havenít seen since June 2007. That spooked equity markets, with the S&P 500 Index down nearly 3% in early afternoon trading.


https://www.reuters.com/article/us-usa-bonds-breakingviews/breakingviews-u-s-recession-signal-bears-clear-fingerprints-idUSKCN1V4215

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Response to groundloop (Original post)

Wed Aug 14, 2019, 07:15 PM

21. And my IRA took it in the shorts.

Thankfully I also have S/S and a pension (thanks to my union).

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Response to groundloop (Original post)

Wed Aug 14, 2019, 07:17 PM

22. Thanks DONALD

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Response to groundloop (Original post)

Wed Aug 14, 2019, 07:28 PM

23. Here is a great comparison of stock market performance under each POTUS

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Response to groundloop (Original post)

Wed Aug 14, 2019, 07:29 PM

24. and what have china and Russia been doing...

hording gold and dumping us bonds... make sense now? next depression is on the way (hope not) and Elizabeth warren and Bernie might be the next FDR's...

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Response to groundloop (Original post)

Wed Aug 14, 2019, 08:51 PM

25. Just a blip. nt

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Response to groundloop (Original post)

Wed Aug 14, 2019, 09:05 PM

26. Locking as a Duplicate

This contains the same information as in https://www.democraticunderground.com/10142354690

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