Merry Christmas. It’s probably too strong to call it a crash, but it is certainly a fender bender.
The Dow Jones Industrial Average traded sharply lower Monday after U.S. Treasury Secretary Steven Mnuchin shocked investors worldwide over the weekend by tweeting that he had spoken to the CEOs of the six largest U.S. banks to ensure they were liquid.
The Dow was down 1.6 percent to midway through an abbreviated trading session ahead of the Christmas holiday. The losses added to last week’s crushing performance, the index’s worst week in 10 years — since the 2008 financial crisis. The tech-heavy NASDAQ was also getting crushed, trading 3.8 percent lower.
It crossed into bear territory last week for the first time since the 2008 recession, which means it is down more than 20 percent from its record high on Aug. 29.
Everyone will circulate their own perception of causes. In my opinion… we are in the midst of a general global downturn where America’s economy is fighting an uphill climb. Meanwhile, the tariffs and Fed machinations are like loose gravel under America’s feet.
Don the Con bragged for the past two years about how he singlehandedly made the stock market rise to all time highs. Now it’s time for him to brag how he singlehandedly caused the market to perform the worse since the Great Depression.
After watching him go off the rails today on Twitter, it’s apparent he is mentally unfit to occupy the White House.
And it’s apparent that YOU are the one to make that judgment, Pat.
Yup, me and all sane adults. I don’t know where that leaves you, Dud??
“Sane,” eh?
So being opposed to American national interest is “sane.”
You live in Red China or Iran? Hmmmmm?
Oh, I’m all for protecting our national interest. But Don the Con’s tweets don’t reflect an individual that is playing with a full deck.
Pat,
Market is down because Democrats took control of House. Investors fear being robbed by Democrat coveting.
The election marked the beginning of drop.
Liberals are bad for America.
“Market is down because Democrats took control of House”.
Absolutely no proof of that.
“Market is down because Democrats took control of House.”
Speaking of individuals not playing with a full deck.
>Absolutely no proof of that.
We can all ignore these posts, Leroy is a proven troll.
>Speaking of individuals not playing with a full deck.
Speaking of trolls, here’s Pat.
Speaking of “no proof,” isn’t the Left telling us that Trump is the cause of the market’s downturn?
Why, yes! Yes, indeed!
I think they’re saying that trumps twitters are the cause…. like the market is as fickle as a single person’s twits causing a massive sell-a-thon. What a bunch of shit.
Trump has been saying crazy things on Twitter for years.
Market has adjusted for that.
Market is not done adjusting for coveting liberals taking control of Congress, fear of what they might take from investors by their coveting, and how long Democrats will insist on a shutdown while they sacrifice border security to let in Ms-13 and terrorists with ease.
Sad, sad, state of affairs when it comes to liberals these days.
Rational people understand that political leadership is only a small part of stock-market trends. (The bond market–specifically, Treasuries–reflect political events and trends.)
The Longest Bull Market in history has to come to an end; the ridiculous over-valuations (14-25X vs. the 7X norm on earnings), and the buy-backs which enhanced the balance-sheets of certain people, plus the monetary policy of the Fed since around 2009 which rescued the banks and demolished the frugal, have all pushed the market to un-sustainable highs.
Reality began to impose itself a month ago, just as it did back in 1987.
“Trump has been saying crazy things on Twitter for years”
It’s been more than just on Twitter. It’s been on every form of media. Crazy attracts crazy.
Yes, Pat. He’s certainly living in YOUR head.
Says the guy in the tin foil hat.
And today the Dow is up ~1000 points. Give credit to the Democrats taking control of the house.
Nord,
That was Trump visiting the troops.
Market is just settling it’s indigestion from coveting liberals having control of House.
Well the Dow dropped a bunch today, guess we came give credit to trump here, too.
And the WSJ disagrees with your analysis. I’d put a lot more credence on their analysis than your fact-averse opinion.
I do not put any credence in your interpretation of WS Journal.
You claim no “mandates” exist in Wastewater permit. You have a demonstrated reality problem.
Well read it yourself and give us your interpretation. I’ll even supply a dictionary to aid in your review.
Weak. But you’re a gamma, so it’s par for the course.