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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.
I'm actually surprised. I figured a half-point rate hike for this month was already priced in to the market. IMO it would have been surprising if the Fed had done any less than that.Dow falls nearly 1,000 points on rate hike fears and poor earnings from Verizon
Stocks plunged Friday.www.cnn.com
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Yow!
What a finish to what was already a losing week!
Yow!Dow falls nearly 1,000 points on rate hike fears and poor earnings from Verizon
Stocks plunged Friday.www.cnn.com
What a finish to what was already a losing week!
Don't do it.Dang! After several months I was gonna peek at my 401k today. Nope!
How are you defining that?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?
I‘ll wait and look in 15 years.Don't do it.
40 year high is a start.....How are you defining that?
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.I‘ll wait and look in 15 years.
The good thing about a 401K in times like this is you are buying stocks at a discounted price. When the market comes back, your gains are even better.Dang! After several months I was gonna peek at my 401k today. Nope!
For the millionth time the president does not control the Dow.Thank God Joe Biden's in charge.
He should instruct the Fed to go for negative rates like the president did in 2018.For the millionth time the president does not control the Dow.
It's still cheap when you look at context.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?
That has got to be one of the most uninformed statements I have ever read.For the millionth time the president does not control the Dow.
That would be very bad for inflation.He should instruct the Fed to go for negative rates like the president did in 2018.
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.He should instruct the Fed to go for negative rates like the president did in 2018.
It was dumb back then tooThat would be very bad for inflation.
For the millionth time the president does not control the Dow.
Very, very little. Possibly not at all.A Presidents policies, EO's, and political rhetoric does in fact affect markets.
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