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Stock Market Plunges Today - Biggest Loss Since Feb.

HumblePi

HumblePi

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https://www.cnbc.com/2018/10/10/technical-analysts-theres-more-pain-to-come-for-stocks.html

Today, the stock market had one of it's biggest selloffs since last February. The Dow Jones finished at -817.22 or 3.09% and the NASDAQ -315.97 or 4.08% of total market value.

The selloff came on fears of rising interest rates. In the past year with a robust economy and a stock market rising to record levels, Trump took the credit for it - saying that it's a function of his policies. Will he take the blame for the severe losses on Wall Street today? I don't think so.

Everyone knew that a huge bubble in the economy was forming and it would burst sooner or later.

https://www.cnbc.com/2018/06/19/jim-mellon-market-sell-off-in-us-stocks-start-of-major-correction.html

"The trade war worries are "certainly having an effect on the market, but the market is reacting because it's already far too expensive," Mellon said. "The U.S. is selling at 32 times cyclically adjusted price-to-earnings (PE) ratio, which is an all-time high. Surely it's time for a major correction anyway."

Mellon is not alone in suggesting that today's stock market is the most overvalued on record — more so than in 1929, 2000 and 2007.

depression.jpg
 
Bill Maher must be happy. He's been hoping for something like this so Trump will get blamed.
 
HumblePi said:
https://www.cnbc.com/2018/10/10/technical-analysts-theres-more-pain-to-come-for-stocks.html

Today, the stock market had one of it's biggest selloffs since last February. The Dow Jones finished at -817.22 or 3.09% and the NASDAQ -315.97 or 4.08% of total market value.

The selloff came on fears of rising interest rates. In the past year with a robust economy and a stock market rising to record levels, Trump took the credit for it - saying that it's a function of his policies. Will he take the blame for the severe losses on Wall Street today? I don't think so.

Everyone knew that a huge bubble in the economy was forming and it would burst sooner or later.

https://www.cnbc.com/2018/06/19/jim-mellon-market-sell-off-in-us-stocks-start-of-major-correction.html

"The trade war worries are "certainly having an effect on the market, but the market is reacting because it's already far too expensive," Mellon said. "The U.S. is selling at 32 times cyclically adjusted price-to-earnings (PE) ratio, which is an all-time high. Surely it's time for a major correction anyway."

Mellon is not alone in suggesting that today's stock market is the most overvalued on record — more so than in 1929, 2000 and 2007.
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It is silly to panic every time the stock market takes a node dive, just as it was silly for Trump to try and take credit for the market doing well.

View attachment 67241953
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The caption on the photo is incorrect. If you want to make points, you should try and do them honestly. Hint: see 2003 to 2006...
 
roughdraft274 said:
That's not true. I know it's not the main point of your post but feel it necessary to point out that it's incorrect.
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Damn you for being faster than me!
 
Roadvirus said:
Bill Maher must be happy. He's been hoping for something like this so Trump will get blamed.
Click to expand...

Well, you never like to see something like this, but we all knew it was going to happen thanks to idiotic Republican economic policies. Hopefully, the fact that it's happening now will at least improve Democrats chances in November.
 
HumblePi said:
https://www.cnbc.com/2018/10/10/technical-analysts-theres-more-pain-to-come-for-stocks.html

Today, the stock market had one of it's biggest selloffs since last February. The Dow Jones finished at -817.22 or 3.09% and the NASDAQ -315.97 or 4.08% of total market value.

The selloff came on fears of rising interest rates. In the past year with a robust economy and a stock market rising to record levels, Trump took the credit for it - saying that it's a function of his policies. Will he take the blame for the severe losses on Wall Street today? I don't think so.

Everyone knew that a huge bubble in the economy was forming and it would burst sooner or later.

https://www.cnbc.com/2018/06/19/jim-mellon-market-sell-off-in-us-stocks-start-of-major-correction.html

"The trade war worries are "certainly having an effect on the market, but the market is reacting because it's already far too expensive," Mellon said. "The U.S. is selling at 32 times cyclically adjusted price-to-earnings (PE) ratio, which is an all-time high. Surely it's time for a major correction anyway."

Mellon is not alone in suggesting that today's stock market is the most overvalued on record — more so than in 1929, 2000 and 2007.

View attachment 67241953
Click to expand...

market corrections are expect and that is exactly what this is a market correction.
this is typical market behavior and in a few days it will rally.
 
Big deal OP!

There has been talk for a long time about hiking interest rates after keeping them artificially low during the Obama years to help with the recovery and it did work, but it can cause damage to the economy in the long run.

The market will naturally react to any hikes in the short term.
 
I blame Hurricane Michael. Also skirt lengths.
 
A crash is coming, but not yet.

It will be a long one, not like last time, during the Great Recession.....I have been warning for a lot of years...Is everyone ready?
 
MrWonka said:
Well, you never like to see something like this, but we all knew it was going to happen thanks to idiotic Republican economic policies. Hopefully, the fact that it's happening now will at least improve Democrats chances in November.
Click to expand...

Trump blasts Fed interest rate hikes after reportedly complaining about Chairman Jerome Powell at a GOP fundraiser in the Hamptons

Actually this is thanks to FED rate hikes against administration recommendations. The fed is independent. Essentially...in opposite land you would be exactly correct.
 
HumblePi said:
https://www.cnbc.com/2018/10/10/technical-analysts-theres-more-pain-to-come-for-stocks.html

Today, the stock market had one of it's biggest selloffs since last February. The Dow Jones finished at -817.22 or 3.09% and the NASDAQ -315.97 or 4.08% of total market value.

The selloff came on fears of rising interest rates. In the past year with a robust economy and a stock market rising to record levels, Trump took the credit for it - saying that it's a function of his policies. Will he take the blame for the severe losses on Wall Street today? I don't think so.

Everyone knew that a huge bubble in the economy was forming and it would burst sooner or later.

https://www.cnbc.com/2018/06/19/jim-mellon-market-sell-off-in-us-stocks-start-of-major-correction.html

"The trade war worries are "certainly having an effect on the market, but the market is reacting because it's already far too expensive," Mellon said. "The U.S. is selling at 32 times cyclically adjusted price-to-earnings (PE) ratio, which is an all-time high. Surely it's time for a major correction anyway."

Mellon is not alone in suggesting that today's stock market is the most overvalued on record — more so than in 1929, 2000 and 2007.

View attachment 67241953
Click to expand...
That’s not true. There was a time during Bush’s term that the GOP controlled the WH and both houses of Congress.
 
akyron said:
Actually this is thanks to FED rate hikes against administration recommendations. The fed is independent. Essentially...in opposite land you would be exactly correct.
Click to expand...

For all the crap Trump has been doing, this IS one good thing he did; i.e. did not mess to much with the Fed and appointed someone reasonable to head it, whether or not he likes it now.

Now Fed can do its job reasonably well. Of course we need higher rates. Ability to lower them in time of economic crisis will help us fight that next recession... Also, Economy is doing well and we need it to NOT overheat. Fed is doing exactly what it's supposed to.
 
HumblePi said:
https://www.cnbc.com/2018/10/10/technical-analysts-theres-more-pain-to-come-for-stocks.html

Today, the stock market had one of it's biggest selloffs since last February. The Dow Jones finished at -817.22 or 3.09% and the NASDAQ -315.97 or 4.08% of total market value.

The selloff came on fears of rising interest rates. In the past year with a robust economy and a stock market rising to record levels, Trump took the credit for it - saying that it's a function of his policies. Will he take the blame for the severe losses on Wall Street today? I don't think so.

Everyone knew that a huge bubble in the economy was forming and it would burst sooner or later.

https://www.cnbc.com/2018/06/19/jim-mellon-market-sell-off-in-us-stocks-start-of-major-correction.html

"The trade war worries are "certainly having an effect on the market, but the market is reacting because it's already far too expensive," Mellon said. "The U.S. is selling at 32 times cyclically adjusted price-to-earnings (PE) ratio, which is an all-time high. Surely it's time for a major correction anyway."

Mellon is not alone in suggesting that today's stock market is the most overvalued on record — more so than in 1929, 2000 and 2007.

View attachment 67241953
Click to expand...

https://www.debatepolitics.com/brea...us-unemployment-rate-lowest-since-1969-a.html
 
danarhea said:
It's either higher interest rates or runaway inflation. In other words, damned if you do and damned if you don't.
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the Fed is doing what the Fed is supposed to do.
They are controlling the money supply. and the sell off is needed.

I was expecting it sooner than this. It wouldn't bother me to lose a few hundred more points.

my goals are more long term i do not mind these dips. heck a 10% loss wouldn't bother me either.
why? it means i can buy more for less so when the market goes back up i make way more money.
 
nota bene said:
I blame Hurricane Michael. Also skirt lengths.
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:mrgreen:

Actually though, at one time skirt lengths was indeed a fairly reliable indicator! ;)
 
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Slavister said:
For all the crap Trump has been doing, this IS one good thing he did; i.e. did not mess to much with the Fed and appointed someone reasonable to head it, whether or not he likes it now.

Now Fed can do its job reasonably well. Of course we need higher rates. Ability to lower them in time of economic crisis will help us fight that next recession... Also, Economy is doing well and we need it to NOT overheat. Fed is doing exactly what it's supposed to.
Click to expand...
This is also an argument against the recent tax cuts. There was no need to stimulate the economy. In actuality, during periods of economic growth we should be using tax revenue to shrink the debt & deficit, preparing to put ourselves in a position to ameliorate the next downturn by spending our way out.
 
Slavister said:
For all the crap Trump has been doing, this IS one good thing he did; i.e. did not mess to much with the Fed and appointed someone reasonable to head it, whether or not he likes it now.

Now Fed can do its job reasonably well. Of course we need higher rates. Ability to lower them in time of economic crisis will help us fight that next recession... Also, Economy is doing well and we need it to NOT overheat. Fed is doing exactly what it's supposed to.
Click to expand...

I am on board with that. Tapping the brakes is their job. Six times recently seems a little like both feet on the passenger brakes however. A measured response is generally safe.
 
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ludin said:
the Fed is doing what the Fed is supposed to do.
They are controlling the money supply. and the sell off is needed.

I was expecting it sooner than this. It wouldn't bother me to lose a few hundred more points.

my goals are more long term i do not mind these dips. heck a 10% loss wouldn't bother me either.
why? it means i can buy more for less so when the market goes back up i make way more money.
Click to expand...

But your hero trump tells us that the Fed is wrong and he knows better.....................
 
akyron said:
I am on board with that. Tapping the brakes is their job. Six times recently seems a little like both feet on the passenger brakes however. A measured response is generally safe.
Click to expand...

There has been no indication that the pace of rate increases has been too aggressive.
 
Khayembii Communique said:
There has been no indication that the pace of rate increases has been too aggressive.
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Volume and an 800 handle yesterday may indicate such. This will play out over time and a clearer picture will present..
 
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