Dow drops to 2-week low under 24,000 as Wall Street contends with rising bond yields

[McRocket]

'The Dow Jones Industrial Average tumbled nearly 500 points in afternoon trade on Tuesday, pushing the blue-chip gauge to a roughly two-week low under the 24,000 mark. The Dow DJIA, -1.74% was most recently off 480 points, or 2%, at 23,955, with shares of tumbling 3M Co. MMM, -6.83% and a rise in yields to a psychological level at 3%, undercutting appetite for equities and weighing mightily on the market. Higher yields can translate to elevated borrowing costs for American corporations, despite the fact that it implies a strengthening domestic economy.'

Dow drops to 2-week low under 24,000 as Wall Street contends with rising bond yields

So much for the tax cuts that will force the economy to boom?

 

[McRocket]

Sure, those tax cuts have helped the rich and given corporations record profits...but they DOW is down for the year and the GDPNow estimates Q1 GDP growth at only 2.0%.

GDPNow - Federal Reserve Bank of Atlanta


Though I agree with corporate tax cuts...the trickle-down nonsense part of the Trump tax cuts I do not agree with and they DO NOT help the economy. They just help the rich get richer and punch an even bigger hole in the deficit.

 

[S.J.]

Though I agree with corporate tax cuts...the trickle-down nonsense part of the Trump tax cuts I do not agree with and they DO NOT help the economy. They just help the rich get richer and punch an even bigger hole in the deficit.

Then you don't agree with it. Corporate tax cuts ARE trickle down economics, they create jobs.

 

[TheOldSchool]

Though I agree with corporate tax cuts...the trickle-down nonsense part of the Trump tax cuts I do not agree with and they DO NOT help the economy. They just help the rich get richer and punch an even bigger hole in the deficit.

Then you don't agree with it. Corporate tax cuts ARE trickle down economics, they create jobs.

 

[airplanemechanic]

I had no idea the DOW, a set of 30 stocks, was considered the "economy."

But that being said, THE TRUMP DOWNTURN CONTINUES.....

 

[Manonthestreet]

0% interest rates artificially inflated the market.....I would bet there are a ton of SR citizens breathing a sigh of relief that not every penny has to be in the market ...or tied up in an annuity......

 

[S.J.]

Though I agree with corporate tax cuts...the trickle-down nonsense part of the Trump tax cuts I do not agree with and they DO NOT help the economy. They just help the rich get richer and punch an even bigger hole in the deficit.

Then you don't agree with it. Corporate tax cuts ARE trickle down economics, they create jobs.

In your case it should be the "trickle ON theory". LOL

 

[S.J.]

I had no idea the DOW, a set of 30 stocks, was considered the "economy."

But that being said, THE TRUMP DOWNTURN CONTINUES.....

You consider record low unemployment a "downturn"?

 

[airplanemechanic]

No I consider record drops in the DOW a downturn

 

[S.J.]

No I consider record drops in the DOW a downturn

Then you just contradicted yourself.

I had no idea the DOW, a set of 30 stocks, was considered the "economy."

 

[McRocket]

Though I agree with corporate tax cuts...the trickle-down nonsense part of the Trump tax cuts I do not agree with and they DO NOT help the economy. They just help the rich get richer and punch an even bigger hole in the deficit.

Then you don't agree with it. Corporate tax cuts ARE trickle down economics, they create jobs.

Only partially right.

I agree with trickle down economics ONLY for corporations...NOT for the rich (and both are bonehead moves if there is not an accompanying drop in spending to make up for the drop in government income).

And where is your link to unbiased, factual proof that income tax cuts for only the rich directly causes employment gains in proportion to the tax income loss?

I bet you cannot provide one.

 

[McRocket]

I had no idea the DOW, a set of 30 stocks, was considered the "economy."

But that being said, THE TRUMP DOWNTURN CONTINUES.....

I forgot to post the GDPNow link in the OP (did it in post #2).

 

[Dragonlady]

Though I agree with corporate tax cuts...the trickle-down nonsense part of the Trump tax cuts I do not agree with and they DO NOT help the economy. They just help the rich get richer and punch an even bigger hole in the deficit.

Then you don't agree with it. Corporate tax cuts ARE trickle down economics, they create jobs.

No they don’t. They create deficits.

Reagan cut taxes and had lower job growth than Clinton who raised taxes. Bush cut taxes and had negative job growth.

Tax cuts don’t create jobs. Even Reagan’s economists agree that they got it wrong.

 

[S.J.]

Though I agree with corporate tax cuts...the trickle-down nonsense part of the Trump tax cuts I do not agree with and they DO NOT help the economy. They just help the rich get richer and punch an even bigger hole in the deficit.

Then you don't agree with it. Corporate tax cuts ARE trickle down economics, they create jobs.

No they don’t. They create deficits.

Reagan cut taxes and had lower job growth than Clinton who raised taxes. Bush cut taxes and had negative job growth.

Tax cuts don’t create jobs. Even Reagan’s economists agree that they got it wrong.

Pure bullshit. The deficit was coming down when Reagan left office (despite the efforts of Dems to keep it high) and everyone knows it was the Democratic Congress that welched on their commitment to cut spending in exchange for a tax increase. There's your deficit right there. The tax cuts resulted in the creation of 20 million jobs. You have no idea what you're talking about.

 

[McRocket]

I had no idea the DOW, a set of 30 stocks, was considered the "economy."

But that being said, THE TRUMP DOWNTURN CONTINUES.....

You consider record low unemployment a "downturn"?

Well, the unemployment rate means nothing.

Donald Trump Calls Unemployment Rate One of the “Biggest Hoaxes in Politics”

Donald Trump Calls Unemployment Rate One of the “Biggest Hoaxes in Politics”

Of course, he is dead right on this. The U-3 is a complete joke.

The real unemployment rate (the U-6 - more or less the way it used to be tabulated) is nowhere near the lowest in history.