Nasdaq and S&P suffer the biggest plunge
in two years - one AI company sees biggest
ever loss in market value
Daily Mail (UK),
by
Daniel Jones
&
Alice Wright
Original Article
Posted By: Imright,
8/5/2024 12:02:35 PM
Nearly everything on Wall Street is tumbling Monday as fear about a slowing US economy worsens and sets off another sell-off for financial markets around the world.
The S&P 500 was down by 4 percent in early trading, coming off its worst week in more than three months. The Nasdaq was down 6 percent to pull it 15 percent below its record set last month.
Meanwhile, online brokerages including Charles Schwab and Fidelity Investments were down on Monday - as Americans tried to log in to see how their portfolios were affected. Many were also looking to sell shares.
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Reply 1 - Posted by:
thekidsmom66 8/5/2024 12:17:37 PM (No. 1773005)
I like how they lump this together so they can say 2 years, but the fact is that the NASDAQ plunge is the greatest in history.
12 people like this.
Reply 2 - Posted by:
kono 8/5/2024 12:22:14 PM (No. 1773007)
I sure hope that "one AI company" isn't the only one whose aggressive projections are set back years by this. "AI" is far from being anything resembling objectivity, and the stuff being peddled now has a profound lean to the Left. The media using it will do their own election interference this time, without another human having to lift a finger, and without means to adjust or correct. Propaganda with no possibility of reproach.
12 people like this.
Have no fear- Joe Biden is already planning his next 4 day beach vacation followed soon after by a 3 week August vacation.
As an aside where will a Pres Harris spend her weekends? She can’t jet back to California every weekend- although she may. I can’t see her going to Camp David much.
9 people like this.
Reply 4 - Posted by:
kono 8/5/2024 12:38:14 PM (No. 1773021)
(you've noticed by now how Google has put their own "AI" output at the very top of its search results, ahead of any specifically human analysis.).
9 people like this.
Reply 5 - Posted by:
formerNYer 8/5/2024 12:39:10 PM (No. 1773023)
The nightly network fibbers will spin that this isn't so bad.....
7 people like this.
Reply 6 - Posted by:
hershey 8/5/2024 1:08:37 PM (No. 1773035)
I'll hold onto the few stocks I have, but buy more gold and sliver....wonder how many hedge fund operators jumped out of tall buildings this time around???
6 people like this.
I looked at my stocks this morning and was shocked at the size of the loss in value I had. Just checked and most of my stocks have recovered. But then I don't invest in tech stocks right now.
9 people like this.
Reply 8 - Posted by:
jhpeters2 8/5/2024 2:42:18 PM (No. 1773089)
Scam businesses always have their bubbles popped with or without a market crash. AI is an absolute scam, but it did benefit in the short term Nvidia (Nancy Pelosi bought recently) and chip makers in general. What will really help chip maker's value will be a chinese invasion of Taiwan. This is what the wef idiots want to see happen, and I bet most of them are heavily invested in chips.
7 people like this.
Reply 9 - Posted by:
skacmar 8/5/2024 3:49:25 PM (No. 1773124)
The market is crashing, the world's axis of evil is lurking around every corner and looking for war, our politics is in disarray, and our President is MIA. Kamala keeps saying don't worry, everything is fine (ha,ha, ha, ha, ha), and anything that is wrong is Trump's fault. Sure, Trump hasn't been in power for four years, and the economy is running on Bidenomics. That doesn't matter. Democrats, Biden, Kamala, and the media are turning a blind eye to the world burning all around them and them doing nothing.
9 people like this.
Reply 10 - Posted by:
franq 8/5/2024 4:17:06 PM (No. 1773137)
Which is why I got out of stocks 5 years ago. Any losses at my age would have been irrecuperable.
7 people like this.
Reply 11 - Posted by:
Rumblehog 8/5/2024 6:33:59 PM (No. 1773237)
Leftist politicians, who know next to nothing about economics, are forever equating the Dow Jones Industrial Average performance with "middle class prosperity." It's possible to inflate corporate stock price while our domestic economy hemorrhages jobs. Don't fall for that myth. The best barometer for economic outlook is the number of empty parking spots at the18-wheeler Truck Stops. A trucker recently told me that his transport company's business is way down from previous years AND that it was never a problem to find a parking space at the truck stops, unlike previous years under Trump.
5 people like this.
Reply 12 - Posted by:
Strike3 8/6/2024 7:06:20 AM (No. 1773453)
As expected, Japan bounced back today like a pogo stick. I expected Joe and his henchmen to crash our stock market two years ago because they have they have been trying their best with interest rates, inflation and wasteful spending. I don't see how any of the AI products are making money at this point in time given their infancy, performance based on pre-loaded data bases and manipulation to influence results.
2 people like this.
Reply 13 - Posted by:
ARKfamily 8/6/2024 7:41:46 AM (No. 1773466)
It was in the headlines yesterday the economist architect for Joe Biden left and went over to Kamala's campaign. So we would get four more failing years with this person?
2 people like this.
Reply 14 - Posted by:
Snow Possum 8/6/2024 9:36:41 AM (No. 1773527)
Be careful when reading these kinds of headlines. Are we talking about percent losses or numeric losses? The S&P's 4% dip was about 200 points. In 2009, 200 points in the S&P was 30% of its total value.
Liberals love to play with the numbers and mislead if it is to their favor. We should not play that game either.
The NASDAQ has seen four days in which it was down more than 9%. Two of those were in March of 2020 during the COVID market meltdown.
We can have our own opinions, but not our own facts.
4 people like this.
Reply 15 - Posted by:
Zigrid 8/6/2024 10:35:34 AM (No. 1773562)
Looks like bidenomics is leaving investors hug out to dry...and no amount of moving the numbers by the government is gonna change that...it was a nightmare for investors and just in time for heels up harris to speak at the convention in Chicago...that is if her fruit salad remarks will make any sense to investors...now what obama?
2 people like this.
Reply 16 - Posted by:
Strike3 8/6/2024 12:52:09 PM (No. 1773652)
Obama has been in the picture since sometime in 2007 and his hateful rhetoric, racism, communism and divisive politics has been going further into the gutter with every stupid move. Choosing Joe Biden and Kamala Harris as his successors may seem like a huge failure but it's only the next progression in what has been a major failure of a stupid but articulate man who we can not even call an American with any degree of certainty. What is wrong with this country?
0 people like this.
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