Dow falls 666 points, capping worst week on Wall Street in 2 years

I know there have been a few other more interesting news stories over the past couple days but I am surprised that no one had picked up this fun bit.

Dow falls 666 points, capping worst week on Wall Street in 2 years

U.S. stocks fell sharply Friday, with the Dow Jones industrial average experiencing its worst weekly percentage drop in two years.

The Dow dropped nearly 666 points, or 2.5 percent, just two weeks after it surpassed the 26,000-mark for the first time.

Investors said the drop was partly due to fears of rising inflation, which could lead to an increase in interest rates in the coming months.

“We’ve enjoyed low interest rates for so long, we’re having to deal with a little bit higher rates now, so the market is trying to figure out what that could mean for inflation,” Darrell Cronk, the president of the Wells Fargo Investment Institute, told the Associated Press.

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I do luv that number 666

Do you think some of those 'good Christian' Trump supporters may have a few words to say about Satan in their Sunday sermons?

i'd speculate that we're in for more serious corrections, but i doubt that the big one will happen soon. the current correction will probably just look like a sale to the gamblers. they're still pretty high on tax cut cocaine, and i expect that they'll be up for the next couple days at least, so to speak.

Maybe the next campaign rally speech will have to be rewritten, deleting references to "how about them 401K's!"

This must be Hillarys fault !!

yankintx said:

This must be Hillarys fault !!

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Oh, no, no, no!! It's Obama's fault.

Somerville said:

I know there have been a few other more interesting news stories over the past couple days but I am surprised that no one had picked up this fun bit.



I do luv that number 666

Do you think some of those 'good Christian' Trump supporters may have a few words to say about Satan in their Sunday sermons?

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It was time to take some money off the table. It's as simple as that.

Everyone has set their auto trade programs to pull the trigger when "such and such" happens. It's all automated now, except for the parameters the bot owners people set. That's why drops are so fast. Auto trades accelerate the drops by feeding off the drops of other machines. Then come Monday, the traders look out their windows and see the world is still there and Amazon hasn't bought it yet. So Mr. Bot Owner pulls out his iPad, brushes the toast crumbs off it and moves the slider on the $10,000 trading algorithm and begins to buy over sold stocks.

The other bots see that as the beginning of a bull market, and their owners all do the same thing and start sliding the risk tolerance bar.

And away we go.

And the 666 thing - that doesn't not apply in the context of a market report.

Helix said:

i'd speculate that we're in for more serious corrections, but i doubt that the big one will happen soon. the current correction will probably just look like a sale to the gamblers. they're still pretty high on tax cut cocaine, and i expect that they'll be up for the next couple days at least, so to speak.

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Lost in the discussion is that the business community has to start showing increased sales pretty soon.

yankintx said:

This must be Hillarys fault !!

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Somerville said:

Oh, no, no, no!! It's Obama's fault.

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I blame Bush.

Rexedgar said:

Maybe the next campaign rally speech will have to be rewritten, deleting references to "how about them 401K's!"

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I'm kn a pretty conservative fund for my 401K.

My personal balance jumped about 1000 last week to the weekend. I don't recall the exact number.

This week, it's still in that same range of a 1000 points.

The DJI has about an 8000 point cushion to drop through to get back to where it started at the election.

Jesse Booth said:

I blame Bush.

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I am sure the Adorables will blame one of the Clintons, its there go to voodoo doll for most diversions. Its getting rather well worn.

Somerville said:

I know there have been a few other more interesting news stories over the past couple days but I am surprised that no one had picked up this fun bit.



I do luv that number 666

Do you think some of those 'good Christian' Trump supporters may have a few words to say about Satan in their Sunday sermons?

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I have to admit that is cool....

I still want another 1500-2000 down correction

I have cash that has been sitting waiting for Kmart specials for a while

Haven’t been any blue light specials to speak of...market has been frothy

Nothing goes up forever, and some of us need and want the market to correct as per usual

In Sandusky Ohio at Cedar Point they have ride called the Demon Drop... seems to fit what happened on Friday.

haymarket said:

In Sandusky Ohio at Cedar Point they have ride called the Demon Drop... seems to fit what happened on Friday.

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Great analogy. Get used to the ride. USDollar down 18%. Imports cost 18% more. Great inflation driver. Confidence that the dollar will continue dropping and unpredictable market forces follow. Trump tweets, FBI lies, CIA distorts, Fed fiddles, Treasury does more paper, MIC promotes fear, MSM cheerleads for the Big Money, and everybody else is taught not to think. No problemo, eh?
/

DaveFagan said:

Great analogy. Get used to the ride. USDollar down 18%. Imports cost 18% more. Great inflation driver. Confidence that the dollar will continue dropping and unpredictable market forces follow. Trump tweets, FBI lies, CIA distorts, Fed fiddles, Treasury does more paper, MIC promotes fear, MSM cheerleads for the Big Money, and everybody else is taught not to think. No problemo, eh?
/

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Will Trumplethinskin take credit for the fall also?