Dow erases gains for the year, tumbles more than 600 points as stocks extend October swoon

[McRocket]

'The Dow Jones Industrial Average dropped 608.01 points at 24,583.42 and erased all of its gains for 2018. The S&P 500 dropped 3.1 percent to 2,656.10 and also turned negative for the year. The Nasdaq Composite fell 4.4 percent to 7,108.40— entering correction territory — as Facebook, Amazon, Netflix and Alphabet all traded lower.

"An increasingly murky macro picture is clouding the 2019 earnings outlook leaving investors to largely shrug off a solid start to the third quarter earnings season," said Alec Young, managing director of global markets research at FTSE Russell. "While valuations have certainly come down in recent weeks, at 16 times forward earnings for the Russell 1000 index, they aren't in the bargain basement by any means, especially if earnings growth slows more than expected next year."

Stocks have taken a beating this month. The Dow has dropped 7.1 percent in October, while the S&P 500 has pulled back 8.9 percent. The Nasdaq, meanwhile, has tumbled 11.7 percent.'

Dow erases gains for the year, tumbles more than 600 points as stocks extend October swoon


A week before Halloween - and the DOW is in the red for the year.

 

[McRocket]

Markets In Turmoil: S&P, Dow Erase 2018 Gains As Nasdaq Crashes Most Since 2011

 

[g5000]

'The Dow Jones Industrial Average dropped 608.01 points at 24,583.42 and erased all of its gains for 2018. The S&P 500 dropped 3.1 percent to 2,656.10 and also turned negative for the year. The Nasdaq Composite fell 4.4 percent to 7,108.40— entering correction territory — as Facebook, Amazon, Netflix and Alphabet all traded lower.

"An increasingly murky macro picture is clouding the 2019 earnings outlook leaving investors to largely shrug off a solid start to the third quarter earnings season," said Alec Young, managing director of global markets research at FTSE Russell. "While valuations have certainly come down in recent weeks, at 16 times forward earnings for the Russell 1000 index, they aren't in the bargain basement by any means, especially if earnings growth slows more than expected next year."

Stocks have taken a beating this month. The Dow has dropped 7.1 percent in October, while the S&P 500 has pulled back 8.9 percent. The Nasdaq, meanwhile, has tumbled 11.7 percent.'

Dow erases gains for the year, tumbles more than 600 points as stocks extend October swoon


A week before Halloween - and the DOW is in the red for the year.

I blame George Soros.

 

[SobieskiSavedEurope]

What goes up must come down.

 

[CrusaderFrank]

'The Dow Jones Industrial Average dropped 608.01 points at 24,583.42 and erased all of its gains for 2018. The S&P 500 dropped 3.1 percent to 2,656.10 and also turned negative for the year. The Nasdaq Composite fell 4.4 percent to 7,108.40— entering correction territory — as Facebook, Amazon, Netflix and Alphabet all traded lower.

"An increasingly murky macro picture is clouding the 2019 earnings outlook leaving investors to largely shrug off a solid start to the third quarter earnings season," said Alec Young, managing director of global markets research at FTSE Russell. "While valuations have certainly come down in recent weeks, at 16 times forward earnings for the Russell 1000 index, they aren't in the bargain basement by any means, especially if earnings growth slows more than expected next year."

Stocks have taken a beating this month. The Dow has dropped 7.1 percent in October, while the S&P 500 has pulled back 8.9 percent. The Nasdaq, meanwhile, has tumbled 11.7 percent.'

Dow erases gains for the year, tumbles more than 600 points as stocks extend October swoon


A week before Halloween - and the DOW is in the red for the year.

MOAR THREADS!!!!

 

[Brain357]

Maga

 

[McRocket]

If Trump had a properly working brain in his head, he should declare victory (even though he won nothing - but his people can make stuff up) and end the trade war.

This tariff madness of his should not have been started until the effects from the Fed unwinding it's ZIRP/QE had finished working it's way through the economy.

As it is, the trade 'war' is just making things that much worse....idiot.

And I guarantee you a lot of Republicans trying to win midterms are none-too-happy with Trump's tariffs either as the latter are hurting the economy just when the former are fighting for their political lives.

 

[CrusaderFrank]

There's no way the Fed is indirectly influencing stock prices either

Not a chance

 

[caddo kid]

only the tip of the iceberg

when Trump gets done destroying the planet the market losses will make the 2008 crash look like a cake walk

 

[Brain357]

There's no way the Fed is indirectly influencing stock prices either

Not a chance

Who picked the guy running the fed? Only the best!

 

[Aldo Raine]

'The Dow Jones Industrial Average dropped 608.01 points at 24,583.42 and erased all of its gains for 2018. The S&P 500 dropped 3.1 percent to 2,656.10 and also turned negative for the year. The Nasdaq Composite fell 4.4 percent to 7,108.40— entering correction territory — as Facebook, Amazon, Netflix and Alphabet all traded lower.

"An increasingly murky macro picture is clouding the 2019 earnings outlook leaving investors to largely shrug off a solid start to the third quarter earnings season," said Alec Young, managing director of global markets research at FTSE Russell. "While valuations have certainly come down in recent weeks, at 16 times forward earnings for the Russell 1000 index, they aren't in the bargain basement by any means, especially if earnings growth slows more than expected next year."

Stocks have taken a beating this month. The Dow has dropped 7.1 percent in October, while the S&P 500 has pulled back 8.9 percent. The Nasdaq, meanwhile, has tumbled 11.7 percent.'

Dow erases gains for the year, tumbles more than 600 points as stocks extend October swoon


A week before Halloween - and the DOW is in the red for the year.

MAGA?

 

[KissMy]

There's no way the Fed is indirectly influencing stock prices either

Not a chance

Who picked the guy running the fed? Only the best!

He is another Trump picked Swamp Rat!!!

 

[Mac1958]

Could just be a nice correction. We're down less than 10% in this one, no big deal. Not yet, at least.

Of course, many are celebrating and hoping for the worst, but little can be done about people like that.

 

[Brain357]

Could just be a nice correction. We're down less than 10% in this one, no big deal. Not yet, at least.

Of course, many are celebrating and hoping for the worst, but little can be done about people like that.

It’s sure a bad year.

 

[caddo kid]

The Chinese economy has been 'rattled' by the Trump tariffs.

In response, the Chinese have been doing some questionable financial schemes to help prop things up.

As a result, the Chinese markets have been dropping.

The US markets are responding in kind.

The market drop can indirectly be tied to the Trump tariffs.

But, we all know that, "trade wars are good & easy to win."

What a fvcking train wreck The Donald has unleashed.

There is nothing like putting shit dressing on your own sandwich; right Donny?

 

[Mac1958]

Could just be a nice correction. We're down less than 10% in this one, no big deal. Not yet, at least.

Of course, many are celebrating and hoping for the worst, but little can be done about people like that.

It’s sure a bad year.

No, not in the grand scheme of things. We're down a point or two. Experienced, long term investors know not to worry at this point.
.

 

[Brain357]

Could just be a nice correction. We're down less than 10% in this one, no big deal. Not yet, at least.

Of course, many are celebrating and hoping for the worst, but little can be done about people like that.

It’s sure a bad year.

No, not in the grand scheme of things. We're down a point or two. Experienced, long term investors know not to worry at this point.
.

Only lose when you sell.

 

[McRocket]

Could just be a nice correction. We're down less than 10% in this one, no big deal. Not yet, at least.

Of course, many are celebrating and hoping for the worst, but little can be done about people like that.

This is not a simple correction, IMO.

This is an unwinding of a HUGE period of central bank intervention that is now (finally) being slowly unwound. The trade silliness that Trump is obsessed with is just making things that much worse.

I am not saying today's carnage will continue unabated.

But the markets cannot keep growing without the Fed pumping them up anymore. All that debt has to work it's way out.

And the faster it happens, the better off America will be - the less cheap money it has to burn off.

Velocity of M2 Money Stock

For those of you who don't know what the above chart means - it shows that American money is not trading hands...at the lowest levels in recorded history.
That means that much of the money being spent is just new, cheap debt. Existing money is not moving much.
If the only way an economy is growing is through the creation of cheap debt...that is obviously bad news for the future as all that debt eventually has to be paid for.

 

[BlindBoo]

'The Dow Jones Industrial Average dropped 608.01 points at 24,583.42 and erased all of its gains for 2018. The S&P 500 dropped 3.1 percent to 2,656.10 and also turned negative for the year. The Nasdaq Composite fell 4.4 percent to 7,108.40— entering correction territory — as Facebook, Amazon, Netflix and Alphabet all traded lower.

"An increasingly murky macro picture is clouding the 2019 earnings outlook leaving investors to largely shrug off a solid start to the third quarter earnings season," said Alec Young, managing director of global markets research at FTSE Russell. "While valuations have certainly come down in recent weeks, at 16 times forward earnings for the Russell 1000 index, they aren't in the bargain basement by any means, especially if earnings growth slows more than expected next year."

Stocks have taken a beating this month. The Dow has dropped 7.1 percent in October, while the S&P 500 has pulled back 8.9 percent. The Nasdaq, meanwhile, has tumbled 11.7 percent.'

Dow erases gains for the year, tumbles more than 600 points as stocks extend October swoon


A week before Halloween - and the DOW is in the red for the year.

I blame George Soros.

I think it's Obama's DERP STATE.

 

[CrusaderFrank]

FFS!! We need MOAR DOW THREADS!!!!

TO THE KEYBOARDS!!!