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Dow falls nearly 1,000 points on rate hike fears and poor earnings from Verizon

Chomsky

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www.cnn.com

Dow falls nearly 1,000 points on rate hike fears and poor earnings from Verizon

Stocks plunged Friday.
www.cnn.com www.cnn.com
The Dow fell about 980 points, or 2.8%, following comments about likely aggressive interest rate hikes from Federal Reserve chairman Jerome Powell. A poor earnings outlook from Dow component Verizon didn't help matters.
All 30 stocks in the Dow ended the day lower, led by Verizon (VZ), which fell more than 5.5%, and Caterpillar (CAT), which plunged 6.5%. Dow component American Express (AXP) was off nearly 3% in response to its latest earnings. Stocks finished near their lows of the day. The Dow was down as much as 1,019 points heading into the close.
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Yow!

What a finish to what was already a losing week!
 
Gatsby

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NatMorton

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This is why it's so important to avoid runaway inflation. There is no pain-free method to address it. It's all just a question of whether the significantly higher rates are going to drive the economy into a recession or just a slow-down.

How'd you like to be someone looking to buy their first home later this year?
 
reflechissez

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NatMorton said:
This is why it's so important to avoid runaway inflation. There is no pain-free method to address it. It's all just a question of whether the significantly higher rates are going to drive the economy into a recession or just a slow-down.

How'd you like to be someone looking to buy their first home later this year?
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How are you defining that?
 
R

RealityNow

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Stock Traders, Play A Game of PURE SPECULATION... no one should be surprised at the wild of it... either get in spin, get out and move on, or ride it's rollercoaster.... No One can control the "greed of stock traders"... The Market Need Regulations Improved, PERIOD!!!!

It won't happen until after the next big crash....

  • American Society of America People have a history to never fix the barn door until all the farm animals have ran loose and gotten away. Then, there will still be those who complain about anyone who tries to fix the barn door.

Either we will have a stock market based on "true and actual value and profit earning of listed corporations'... or it's A Crap Shoot Casino Game.

People have accepted it to be a Crap Shoot Casino Games, so 'stop whining and crying when it tanks.... One should have known it was not based on "Actual Performance, but pure STOCK TICKER FICTIONS.... So, why should anyone act surprised.

The Stock Market IS NOT The Economy, People make the Economy, by their consumerism. Period!

The Stock Market... STOPPED BEING A MEASURE OF THE INDUSTRIAL PRODUCTION, SALES AND PROFIT PERFORMANCE DECADES AGO!!!

  • WHEN JUNK BONDS, HOSTILE TAKEOVER, CREDIT DEFAULT SWAPS AND HEDGE FUND GAMES AND STOCK TICKER FICTIONS BECAME THE MAIN FOCUS OF THE GAME, OF EXPECTING TO BREAK A RECORD OR SET A RECORD EVERYDAY. "IT'S NOTHING MORE THAN A CASINO GAME TODAY'.

  • MOST OF THESE CLAIMS OF $XXX BILLION OF VALUE... IS BASED ON "STOCK TICKER FICTION"... when it comes to 'Social Media Tech Firms" that is based on nothing but "advertising revenue" and selling "people's profit to marketers'.... nothing more. Basing Value on Advertising Revenue is as fickle as a guy trying to sell a popsicle in the middle of a Ice Storm.

No one has the hard cash to back up any of this "fiction"... they are trading and selling paper, that is inflated by "speculation". At some point, that bubble will burst.
 
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Dittohead not!

Dittohead not!

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Mongidig said:
I‘ll wait and look in 15 years.
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Good idea. Over time, stocks increase in value. In the short term, things like interest rates cause fluctuations. That's all this is, a fluctuation caused by the interest rate hike. Give it time, and you can look again.

One portfolio of mine dropped over $700 today. I shouldn't have looked.
 
highroller

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uptower said:
For the millionth time the president does not control the Dow.
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He should instruct the Fed to go for negative rates like the president did in 2018.
 
Plasmaball

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NatMorton said:
This is why it's so important to avoid runaway inflation. There is no pain-free method to address it. It's all just a question of whether the significantly higher rates are going to drive the economy into a recession or just a slow-down.

How'd you like to be someone looking to buy their first home later this year?
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It's still cheap when you look at context.
In the 80s you were paying 18% interest and for some reason the right looks fondly at Reagan
 
BahamaBob

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uptower said:
For the millionth time the president does not control the Dow.
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That has got to be one of the most uninformed statements I have ever read.
 
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RealityNow

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highroller said:
He should instruct the Fed to go for negative rates like the president did in 2018.
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that's absurd, these corporations pretend they are making $ billion... let the rate increase and expose the deception and spin game, and break things back down to the point they have to focus on 'Actual Valuation, base on Actual Production and Actual Sales... NOT SPECULATIONS.
 
Schism

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uptower said:
For the millionth time the president does not control the Dow.
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A Presidents policies, EO's, and political rhetoric does in fact affect markets.

Good news and markets rise; bad news, and they sink. Not much confidence in Biden at 38%.
 
Metric Mouse

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Yuck. It would be pretty bad if market returns are worse in 2022 than in 2020.
 
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