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Dow Plunges 1100 Points Bringing it's Decline from Record High to more than 10%

Atomic Kid

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Dow plunges 1,100 points, bringing its decline from a record high to more than 10%

Stocks fell sharply in volatile trading Thursday as investors worried the coronavirus may be spreading in the U.S. A slew of corporate and analyst warnings on the virus dragged down the major averages, tipping them into correction territory.

The Dow Jones Industrial Average plummeted 1,190.95 points, or 4.4%, to close at 25,766.64. The S&P 500 slid 4.4% to 2,978.76 while the Nasdaq Composite dropped 4.6% to 8,566.48. The Dow had its worst day since February 2018 while the Nasdaq and S&P 500 posted its biggest one-day loss since August 2011.

It was also the Dow’s biggest one-day point decline in history, surpassing Monday’s 1,031-point drop. The S&P 500 also closed below 3,000 for the first time since last October.

“We’re extremely cautious in the short term,” said Tom Hainlin, global investment strategist at Ascent Private Capital Management. “No one really seems to be an expert on the coronavirus. We haven’t seen anything like this really in our investing lifetimes.”

Thursday’s losses put the Dow, S&P 500 and Nasdaq in correction territory, which is defined on Wall Street as down more than 10% from their a recent high. It took the Dow just 10 sessions to tumble from its all-time high into a correction. The S&P 500 and Nasdaq set record highs last week. The Dow now sits more than 12% below its all-time high.

The Dow and S&P 500 were also on pace for their worst weekly performance since 2008. Through Thursday’s close, the Dow was down more than 11% week to date while the S&P 500 had lost 10.8%...

President Donald Trump tried to assuage concerns over the outbreak on Wednesday night. At a White House news conference, he said the risk of coronavirus to people in the U.S. is still “very low” but added that the U.S. is going to “spend whatever’s appropriate.” Trump also put Vice President Mike Pence in charge of the U.S. response to the coronavirus and said markets should soon recover.

But worries over how the coronavirus will impact corporate profits and global economic growth overwhelmed the president’s assurances. The stock market has been under pressure all week as the number of confirmed cases increased outside of China. South Korea has confirmed a total of more than 1,700 cases. More than 600 people have contracted the virus in Italy.

It certainly looks as though Trump's 'no worries' press conference achieved it's desired effect. :roll: Putting Vice President Butt Boy Pence in charge went long way in inspiring confidence too it would appear. Let us pray.
 
APPLE INC. (AAPL)
270.50
22.00
7.60%
NASDAQ : Electronic Technology
Feb 27, 2020 7:54 PM EST (BATS BZX Real-time Price)
Prev Close
292.65
Open
281.10
Day Low/High
272.96 / 286.00
52 Wk Low/High
169.50 / 327.85
Volume
78.41M
Avg Volume
29.82M
Exchange
NASDAQ
Shares Outstanding
4.38B
Market Cap
1.26T
EPS
12.00
P/E Ratio
22.68
Div & Yield
3.08 (1.02%)


So say I buy a 1,000 shares for $270,000

Let's see where we are next month.
 
APPLE INC. (AAPL)
270.50
22.00
7.60%
NASDAQ : Electronic Technology
Feb 27, 2020 7:54 PM EST (BATS BZX Real-time Price)
Prev Close
292.65
Open
281.10
Day Low/High
272.96 / 286.00
52 Wk Low/High
169.50 / 327.85
Volume
78.41M
Avg Volume
29.82M
Exchange
NASDAQ
Shares Outstanding
4.38B
Market Cap
1.26T
EPS
12.00
P/E Ratio
22.68
Div & Yield
3.08 (1.02%)


So say I buy a 1,000 shares for $270,000

Let's see where we are next month.

Most of your stock guru's are saying that this drop does not really represent a buying opportunity where you can expect a quick market rebound. They're advising that this is different.
 
Dow plunges 1,100 points, bringing its decline from a record high to more than 10%



It certainly looks as though Trump's 'no worries' press conference achieved it's desired effect. :roll: Putting Vice President Butt Boy Pence in charge went long way in inspiring confidence too it would appear. Let us pray.

People and countries still wedded to the multinational globalists will feel the brunt of this. People and countries who have reduced the influence of the globalists...the US, for example...will be fine.

Choices have consequences.
 
People and countries still wedded to the multinational globalists will feel the brunt of this. People and countries who have reduced the influence of the globalists...the US, for example...will be fine.

Choices have consequences.

You forgot the triple brackets around "multinational globalists".
 
People and countries still wedded to the multinational globalists will feel the brunt of this. People and countries who have reduced the influence of the globalists...the US, for example...will be fine.

Choices have consequences.

Jeeze you are weird.... Countries are getting married?

maxresdefault.jpg
 
Most of your stock guru's are saying that this drop does not really represent a buying opportunity where you can expect a quick market rebound. They're advising that this is different.

Certainly, Atomic Kid. But if you want to buy and hold for long-term investment or retirement, this seems like as decent a time to do so as any.
 
People and countries still wedded to the multinational globalists will feel the brunt of this. People and countries who have reduced the influence of the globalists...the US, for example...will be fine.

Choices have consequences.

Let's pray that we won't have to find out what the consequences are of a President who cares more about the health of the stock market than he does about the health of the American people.
 
Certainly, Atomic Kid. But if you want to buy and hold for long-term investment or retirement, this seems like as decent a time to do so as any.

So forget about the impact of a pandemic upon the general health of our country so long it may present a 'long term' investment opportunity for the financially affluent? How comforting!
 
Let's pray that we won't have to find out what the consequences are of a President who cares more about the health of the stock market than he does about the health of the American people.

You don't have to worry...at least, not anymore. Trump is not that President.
 
So forget about the impact of a pandemic upon the general health of our country so long it may present a 'long term' investment opportunity for the financially affluent? How comforting!

That is a total non sequitur. What does any given present trouble or disaster have to do with saving and investing for the future?

Did you put a stop contributing to your 401(k) or retirement because of this pandemic? Will you stop accruing savings for yours and your family's future now? Or shall you encourage others to do so?
 
That is a total non sequitur. What does any given present trouble or disaster have to do with saving and investing for the future?

Did you put a stop contributing to your 401(k) or retirement because of this pandemic? Will you stop accruing savings for yours and your family's future now? Or shall you encourage others to do so?

So the health, safety and welfare of our country is secondary to the stock market? Even though less than 50% of Americans are in it? Glad you have your priorities in order.
 
You don't have to worry...at least, not anymore. Trump is not that President.

Of course that is what you think. No one else seems to be that comforted.
 
People and countries still wedded to the multinational globalists will feel the brunt of this. People and countries who have reduced the influence of the globalists...the US, for example...will be fine.

Choices have consequences.

What the hell are you talking about now? Do you know what a globalist is?

Globalist = a person who advocates the interpretation or planning of economic and foreign policy in relation to events and developments throughout the world.

The United States is a globalist nation and has been since the beginning. Our foreign policy has always been, first and foremost, about economy; and our use of the military has long been about stabilizing regions for that economic purpose. And the very moment we emerged from World War II as the dominant power, we seized on the opportunity to use the strength of the dollar to create a globalized system in such a way that a failing market on Pluto would affect foreign markets, and thus our own. We even used CIA dip****tery in foreign countries and on entire continents to create events that we could economically exploit and build policy around.

- It's because of our globalist ways that the Clinton Administration pushed the IMF to stabilize the Asian markets in 1997.
- It's because of our globalist ways that our Great Recession recovery was slow, due to European markets not recovering, which was due to Asian markets still failing.

But, truth be told, it's our globalist economy that keeps screwing up the world. It was our irresponsibility that created the world's first global economic crisis in 1893. It was our economic irresponsibility that caused the Great Depression after our Crash of 1929. It was certain decisions made by the Fed in 1971 that not only triggered the collapse of the U.S. savings & loan industry, in which banks took over and eventually created the housing bubble that would bring the world the Great Recession, but also triggered a massive (and ongoing) debt crisis for countries around the world, especially those in the Third World that owed the IMF.

Choices do have consequences. And as history showed, most nations are just fine after these crises. But that doesn't mean that they and we don't suck wind during a recovery. Let's not pretend that we have somehow made decisions that insulate us from the very system we championed into existence.

And you may want to look into just why we continue too play games in the Middle East. We don't need the oil. But our allies do. And with China's thirst for Middle Eastern oil exponentially growing, along with its growing influence in the region, the notion that we can just leave is absurd. Yes, so much of what we do in the Middle East is a catering to our globalist ways.
 
So the health, safety and welfare of our country is secondary to the stock market?

No. You made a comment that CNBC financial analysts said that this was a bad time to buy into the stock market if short-term day trading was a goal in reference to swing_voter's comment. I said that it would probably be a good idea to buy stock if long-term investment was your goal. And from this, you seem to infer that I do not care about the pandemic or that it is of only secondary concern when I was directly speaking as to your particular comment on investment in the stock market.

Because let me grant that the health, safety and welfare of our country is of primary importance. Okay. Are you still saving or investing not merely for yours and your family's future, but simply for the sake of an emergency?

Even though less than 50% of Americans are in it? Glad you have your priorities in order.

True. And most Americans do not have enough cash in savings to cover a one thousand dollar emergency. But that fact seems more of an argument in favor of prioritizing thrift, savings and investment, not an argument that these things should not matter to most Americans. Especially if many Americans stand to lose their jobs due to this pandemic and its interrupting the flow of trade and commerce.
 
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What the hell are you talking about now? Do you know what a globalist is?

Globalist = a person who advocates the interpretation or planning of economic and foreign policy in relation to events and developments throughout the world.

The United States is a globalist nation and has been since the beginning. Our foreign policy has always been, first and foremost, about economy; and our use of the military has long been about stabilizing regions for that economic purpose. And the very moment we emerged from World War II as the dominant power, we seized on the opportunity to use the strength of the dollar to create a globalized system in such a way that a failing market on Pluto would affect foreign markets, and thus our own. We even used CIA dip****tery in foreign countries and on entire continents to create events that we could economically exploit and build policy around.

- It's because of our globalist ways that the Clinton Administration pushed the IMF to stabilize the Asian markets in 1997.
- It's because of our globalist ways that our Great Recession recovery was slow, due to European markets not recovering, which was due to Asian markets still failing.

But, truth be told, it's our globalist economy that keeps screwing up the world. It was our irresponsibility that created the world's first global economic crisis in 1893. It was our economic irresponsibility that caused the Great Depression after our Crash of 1929. It was certain decisions made by the Fed in 1971 that not only triggered the collapse of the U.S. savings & loan industry, in which banks took over and eventually created the housing bubble that would bring the world the Great Recession, but also triggered a massive (and ongoing) debt crisis for countries around the world, especially those in the Third World that owed the IMF.

Choices do have consequences. And as history showed, most nations are just fine after these crises. But that doesn't mean that they and we don't suck wind during a recovery. Let's not pretend that we have somehow made decisions that insulate us from the very system we championed into existence.

And you may want to look into just why we continue too play games in the Middle East. We don't need the oil. But our allies do. And with China's thirst for Middle Eastern oil exponentially growing, along with its growing influence in the region, the notion that we can just leave is absurd. Yes, so much of what we do in the Middle East is a catering to our globalist ways.
He means Jews like Soros.

Jews like Soros is what he means.

That's what they all mean by globalists.

He's their boogieman, and Trump is their defender.


Я Баба Яга [emoji328]
 
It's midnight here on the East Coast and a last minute check before I go to sleep shows the Nikkei market down nearly 1,000 points. The predicted Dow open is at -180. A lot of investors will be in to scoop up some stocks at bargain prices. It's going to be a wild day.
 
Of course that is what you think. No one else seems to be that comforted.

LOL!!

For sure. No one else who is afflicted by TDS, that is.
 
No. You made a comment that CNBC financial analysts said that this was a bad time to buy into the stock market if short-term day trading was a goal in reference to swing_voter's comment. I said that it would probably be a good idea to buy stock if long-term investment was your goal. And from this, you seem to infer that I do not care about the pandemic or that it is of only secondary concern when I was directly speaking as to your particular comment on investment in the stock market.

Because let me grant that the health, safety and welfare of our country is of primary importance. Okay. Are you still saving or investing not merely for yours and your family's future, but simply for the sake of an emergency?



True. And most Americans do not have enough cash in savings to cover a one thousand dollar emergency. But that fact seems more of an argument in favor of prioritizing thrift, savings and investment, not an argument that these things should not matter to most Americans. Especially if many Americans stand to lose their jobs due to this pandemic and its interrupting the flow of trade and commerce.

The point of this thread is that the President's press conference message that everything is under control didn't carry over very well. Never mind that his main concern appears to be health of the stock market rather than the safety and health of the American public. And the fact that he fed us false information in that press conference because apparently a stock market downturn doesn't fit in so neatly with his re-election prospects. At least as he perceives them to be anyway. So why don't we focus on on that rather than how the Wall Street vultures are going to take advantage of the carnage?
 
LOL!!

For sure. No one else who is afflicted by TDS, that is.

I think you're the one that needs to tested for that disease. Hopefully not from a test kit provided by this administration.
 
Let's pray that we won't have to find out what the consequences are of a President who cares more about the health of the stock market than he does about the health of the American people.

Our entire history is loaded with Presidents who gave focus to the economy. That's what they generally should do, while appreciating the domestic social scene. It's a shuffling game where all is more important than the others at any given moment. This is why there are department heads, organizations, and such. Carter is a stand out from our Presidential history in this regard because he tried to blend humanitarian idealism into economic and foreign policy. He was a disaster on multiple levels and couldn't recover from his initial bad decisions (enter Reagan).

But don't confuse Trump. He is far too callous and out-of-touch with reality to care about anybody; and his care about the stock market is based solely on his ability to keep exploiting it as his own creation. His motivation is solely about pleasing his constituents' emotional irrationality for his re-election journey.

- Trump declared in one of his childish tweets that the media had fanned unnecessary alarm over the coronavirus. In the meantime, its not the media that is actually closing schools, repelling luxury liners, building special hospitals, and quarantining whole towns. This would be the world's governments. Thus, Trump's intention to simply denigrate the disloyal media is clear.

- Then, at a news conference Trump declared that "every aspect of our society should be prepared." Why? I thought it was just a matter of the media fanning alarm? He even credited decisions to limit certain flights into the US with containing the number of infections. His motivation here was to exploit the virus and attach it to his anti-immigration policies. Here I guess we see Trump himself "fanning unnecessary alarm" too.

- Yet, he still consistently contradicts health officials. This is not because of his vast experience as a medical professional. This is because, in his zeal to prove himself anti-Obama, which is a persistent obsession meant to prove himself better, he fired the government’s entire pandemic response chain of command in 2018. This was an Obama initiative in 2014. Trump has spent the last month playing down the coronavirus in an attempt to pretend that he doesn't have to face yet another stupid decision on his part. As the cases have risen and the governments around the world have made decisions, with the media merely reporting it, Trump & Co. have been steadily trying to figure how best to pull their heads from their asses once again.

So what we have here is his "fake news" game, his immigration phobia, his anti-Obama irrationality, and his ego. All of which was instrumental in courting the Conservative mob in 2016. Stock market? This is a man who has a history of bankruptcy and has actually declared that he doesn't care about the national debt, while forcing the Treasury to issue ever more bonds to China. His only care is that it keeps looking good long enough so that he can keep exploiting it as his creation for the voters who are actually too stupid to see the truth of it all (plenty of whom don't care either way).
 
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He means Jews like Soros.

Jews like Soros is what he means.

That's what they all mean by globalists.

He's their boogieman, and Trump is their defender.


Я Баба Яга [emoji328]

Good grief. What is it with conservatives and their insatiable need to alter word meanings.

I just read up on it. Apparently it is an alt-right use to denigrate gays and Jews. Not gay Jews. Gays.....and Jews. Given how conservatives were rubbing shoulders with neo-Nazis and white supremacists in 2016 it makes sense that this is where they are now. The have moved to far to the right of the spectrum that they really aren't true American conservatives anymore. They are led by a radical right-wing party, and thus they are radicals. They have been long behaving like German conservatives of the 1930s, whose entire world perspective was about how internationalism and "the left" were ruining them and how that Adolph guy might save them.
 
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LOL!!

For sure. No one else who is afflicted by TDS, that is.

TDS, or "Trump derangement syndrome" has always been merely a term that makes your kind feel good about what you support. It's like your "fake news" garbage. It's all about helping you cope. By pretending that people all along the political spectrum and allied global leaders are simply irrational about their criticism of Trump, you help yourselves avoid the fact that you support one of the very worst in Presidential history.

Now, if we look at TDS as meaning "Trump devotional studies," we can see a very large segment of the American population who are truly sick. After four years of kissing this man's ass, one might want to re-asses what a Conservative even is and whether or not what represents you is an actual Conservative Party or a new radical right-wing party...in which neo-Nazis and white supremacists have found comfort under Trump's watch.
 
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