Dow plunges more than 1,000 points as
‘rally’ over Fed plan fades
New York Post,
by
Thomas Barrabi
Original Article
Posted By: AltaD,
5/5/2022 1:02:33 PM
US stocks plunged sharply in early trading Thursday as investors grow more anxious about the Federal Reserve’s move to slam the brakes on the economy to combat decades-high inflation.
The Dow Jones Industrial Average plunged more than 1,000 points as of 12:15 p.m., or 3.1%.
The selloff was more pronounced in the tech-heavy Nasdaq index, which was down by 5.23%, or more than 600 points. The broad-based S&P 500 fell about 4% (Snip) The CBOE Volatility Index, known as Wall Street’s “fear gauge,” surged 24% to 31.62 points.
Reply 1 - Posted by:
Krause 5/5/2022 1:40:14 PM (No. 1147458)
Biden will get credit for destroying the economy far worse than Obama did in his 8 years squatting in the WH. Probably because they are working on this economy together.
19 people like this.
Reply 2 - Posted by:
JackBurton 5/5/2022 1:46:31 PM (No. 1147470)
This is being led by tech stocks.
So was this due to the Fed raising rates? Economic forecasts? Or did investors see the poll numbers and decide keeping money invested with Biden sycophants was a bad idea?
Yep. My friend was asking that.
9 people like this.
Reply 3 - Posted by:
DVC 5/5/2022 1:54:26 PM (No. 1147480)
Increasing interest rates makes long bonds more attractive to a certain class of investors compared to bonds with very low interest rates. So, some of the "investment money flows" will be diverted away from stocks and into bonds. This puts less upward support on stock prices - which lets them go lower, or, at minimum, rise slower than they would have.
And - dramatic increases in energy costs, INTENTIONALLY CREATED by the Dems, is a tax on every business and every person on the country, harming everyone.
Dem PuppetMasters are furiously destroying the Trump economy which was, just a few years ago the best economy in half a century.
All on the Dems - it is there policy to destroy everything that works and replace it with stupid ideas that do NOT work.
19 people like this.
Reply 4 - Posted by:
udanja99 5/5/2022 2:00:06 PM (No. 1147489)
I should not have looked. I’ve lost more money today than we paid for our first home in 1986. Thanks a lot, Joe.
23 people like this.
Reply 5 - Posted by:
jimboscott 5/5/2022 2:09:25 PM (No. 1147500)
Just a couple of things to always keep in mind...
The markets and the economy are not the same thing and nobody should consider them as being joined at the hip. To do so is to invite one bad move after another. You BUY when things stink and WELL when things are good. Today... things STINK. They might stink worse, but that is still when you buy.
Bearish sentiment has been very high for months. That is an indication to BUY the dips because once a firm area of support has been found there will be tons of cash on the sidelines to propel the markets to new all time highs.
Tops do not happen when things are falling apart. Tops get put in when everything is hitting on all eight cylinders. We are nowhere near that kind of psychology at the moment.
This will almost certainly be seen as yet another rung in the ladder that is leaning against the proverbial wall of worry that bull markets scale.
8 people like this.
Reply 6 - Posted by:
jimboscott 5/5/2022 2:10:08 PM (No. 1147501)
WELL = SELL
Will Lucianne EVER allow for posts to be edited?
14 people like this.
Reply 7 - Posted by:
Chiritwo 5/5/2022 2:14:20 PM (No. 1147504)
The press may be trying to prop the economy up but people know it's in the tank. To me the stock market and positive feelings about the economy go hand in hand. I feel during the obama regime the stock market was somehow propped up. I do not know enough how it works, just a feeling I had.
8 people like this.
Reply 8 - Posted by:
texaspast 5/5/2022 2:18:47 PM (No. 1147512)
Welp, I guess retirement is off the table for several more years.
9 people like this.
Reply 9 - Posted by:
kono 5/5/2022 2:20:32 PM (No. 1147515)
What was called a rally was apparently just a 'dead cat bounce'...
11 people like this.
Reply 10 - Posted by:
Rich323 5/5/2022 2:36:56 PM (No. 1147527)
GETTR allows edits, videos and blocking of trolls if desired.
1 person likes this.
Reply 11 - Posted by:
DVC 5/5/2022 3:33:13 PM (No. 1147561)
I never cease to be amazed at the folks who INSIST on selling low and buying high in the stock market.
In any other purchasing decision, one seeks to buy thing when they are available inexpensively and then sell them when they are worth more. Buy that land outside of town when it was cheap, and sell it years later for much more.
But when stocks "go on sale"......people sell everything and wait on the sidelines a few years until the prices rise high again, and THEN buy back. It never ceases to amaze me. I've got several friends who have done it and family members, too. And they think they "did the smart thing".
When these prices are bottoming (not easy to tell) it is time to buy. Or "dollar cost average" into the market.
7 people like this.
Reply 12 - Posted by:
DVC 5/5/2022 3:37:15 PM (No. 1147564)
Oh, and unrealized gains or losses are actually neither, until you sell.
If you are forced to sell by need for the money right now - that is unfortunate. If you are not forced to sell by a current need for funds, and you are invested in solid companies making real products, not some 'latest thing' company making vaporware, then you will almost certainly be back in good shape by continuing to own the stocks.
8 people like this.
Reply 13 - Posted by:
Krause 5/5/2022 3:44:46 PM (No. 1147568)
And the people at the correspondence dinner gave the corrupt inept reckless president standing ovations.
7 people like this.
Reply 14 - Posted by:
hershey 5/5/2022 3:47:34 PM (No. 1147572)
And to just think, under Trump, the DOW kept BREAKING highs, time after time...
10 people like this.
Reply 15 - Posted by:
john56 5/5/2022 3:49:33 PM (No. 1147574)
Gee, I'm glad I moved a lot of my IRA money into an annuity last year. Never thought I'd invest in one, but all of a sudden, it looks like I knew what I was doing (and no, this isn't one of those high fee annunities deals).
6 people like this.
Reply 16 - Posted by:
Dodge Boy 5/5/2022 4:20:30 PM (No. 1147595)
Even my precious metals stocks tanked today. But I remain long. Don't like what happened today and I lost a bundle, but it wasn't hard to see this coming. And Powell's announcement yesterday to raise interest rates 50 basis points comes with a price. It will be a rough summer market-wise. So hang on and stay disciplined with your investments. Meanwhile, absolutely never sell into downward pressure.
5 people like this.
Reply 17 - Posted by:
Bur Oak 5/5/2022 4:32:33 PM (No. 1147603)
Biden, it is time to say good bye.
4 people like this.
Reply 18 - Posted by:
DVC 5/5/2022 4:33:54 PM (No. 1147605)
Re #16, excellent advice....
but my precious metals in my gun safe are worth the same as a few months ago when I bought them. My investment advisors recommended metals stocks or metals funds instead of taking delivery of the real thing myself.
Uh- no.
But....I have like 0.25% of my investments in precious metals, just enough so that I can't actually ever have zero. Gold and silver are actually pretty bad investments - unless the whole shebang collapses into a smoking ruin. That seemed a lot less likely three years ago than it has seemed recently.
4 people like this.
Reply 19 - Posted by:
VAPMAN 5/5/2022 5:30:15 PM (No. 1147633)
Welcome to the Biden Depression.
4 people like this.
Reply 20 - Posted by:
Blue Hen1 5/5/2022 6:26:58 PM (No. 1147668)
Hunters dad says it’s Putins fault
4 people like this.
Reply 21 - Posted by:
LC Chihuahua 5/5/2022 6:32:59 PM (No. 1147673)
Biden did this!
F Joe Biden!
Will Biden have a second term?
Will Biden even complete his first term?
5 people like this.
Reply 22 - Posted by:
john56 5/5/2022 6:45:08 PM (No. 1147685)
As someone once told me, when things go really bad, what good will a couple of gold or silver bars do you? During Katrina, if you were in New Orleans, would you be better off with a couple gold bars or a couple gallons of water, flashlight and batteries, and a generator and some fuel.
3 people like this.
Reply 23 - Posted by:
DVC 5/5/2022 7:59:42 PM (No. 1147734)
Re #22. Best to have both.
1 person likes this.
Reply 24 - Posted by:
JimBob 5/6/2022 12:24:09 AM (No. 1147868)
If I recall correctly, Warren Buffet once said
"Only invest in a company that a Fool can run, because one day a Fool will run it."
...... and, here we are!
Actually, The HairSniffer and his handlers are not fools.
If they were fools, they would get something right every now and then, just ouf of pure dumb luck.
No, these people are EVIL, and they are determined to Destroy the America that we love.
1 person likes this.
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