Dow tumbles more than 500 points, wipes out gains for the entire year | |
Fifth-and-a-Half Element (OP) User ID: 75457821 United States 12/07/2018 11:38 PM Report Abusive Post Report Copyright Violation | Stocks dropped sharply on Friday, concluding what has been a wild week for Wall Street. A weaker-than-expected jobs report and China-U.S. trade tensions sent the Dow Jones Industrial Average lower by 558.72 points to 24,388.95 and erased its gains for the year. Quoting: Fifth-and-a-Half Element At one point, the Dow was up more than 8 percent for 2018. The S&P 500 pulled back 2.3 percent to 2,633.08 and also turned negative for the year. The Nasdaq Composite dropped 3.05 percent to close at 6,969.25. Shares of large-cap tech companies led the way lower. Facebook, Amazon, Netflix and Google-parent Alphabet all traded lower. Apple's stock also fell 3.6 percent — erasing its gains for the year — after Morgan Stanley cut its price target on the tech giant's shares, citing weakening iPhone sales. For the week, the major indexes all dropped more than 4 percent. Thursday's session included a violent drop of nearly 800 points, followed by a strong rebound from those levels. This week was also the worst for the indexes since March. Indexes fell to their lows of the day after the Wall Street Journal reported federal prosecutors are expected to bring charges against Chinese hackers allegedly trying to break into technology service providers in the U.S., another negative headline amid tense trade talks between the two countries. Investors worried about the U.S. and China striking a permanent deal on trade after news of the Huawei CFO's arrest broke. Investors also grappled with fears of an economic slowdown this week. The yield on the 3-year Treasury note yield broke above its 5-year counterpart earlier in the week, a phenomenon referred to as an inversion. Historically, when short-term yields move above longer-term rates, it signals a recession could arrive in the near future. [link to www.cnbc.com (secure)] This just keeps nipping at the market's heels and it is not going away. Thread: An Inverted Yield Curve, a Reliable Predictor of Recessions, Has the Stock Market Spooked |
SoberLife User ID: 77182005 United States 12/07/2018 11:48 PM Report Abusive Post Report Copyright Violation | |
Fifth-and-a-Half Element (OP) User ID: 72299460 Australia 12/07/2018 11:49 PM Report Abusive Post Report Copyright Violation | |
SoberLife User ID: 77182005 United States 12/07/2018 11:55 PM Report Abusive Post Report Copyright Violation | Be careful about that in the short term. The market's broke key support levels today and traders are wondering where the bottom might be. There is also the inverted curve yield, which has correctly predicted the last seven recessions. My investments are all locked in long term. Thanks though. |
Swisheee2 User ID: 76284064 United States 12/07/2018 11:58 PM Report Abusive Post Report Copyright Violation | |
Fifth-and-a-Half Element (OP) User ID: 72299460 Australia 12/07/2018 11:59 PM Report Abusive Post Report Copyright Violation | Be careful about that in the short term. The market's broke key support levels today and traders are wondering where the bottom might be. There is also the inverted curve yield, which has correctly predicted the last seven recessions. My investments are all locked in long term. Thanks though. The last time we saw an inverted yield curve was 2006 and it took a very long time to recover from that. |
Fifth-and-a-Half Element (OP) User ID: 72299460 Australia 12/08/2018 12:03 AM Report Abusive Post Report Copyright Violation | Be careful about that in the short term. The market's broke key support levels today and traders are wondering where the bottom might be. There is also the inverted curve yield, which has correctly predicted the last seven recessions. My investments are all locked in long term. Thanks though. The last time we saw an inverted yield curve was 2006 and it took a very long time to recover from that. That is, if your long term investments are locked into stock shares. |
Bubby 2 Times User ID: 77058083 United States 12/08/2018 12:09 AM Report Abusive Post Report Copyright Violation | In removing the Federal Reserve, what would the legal process look like? Is it a possibility in our time? How would the markets react if this happened? Woodrow Wilson single handedly robbed this country of future possibilities. |