Oh shite Dow goes below 25,000

[malaise]

as the Con speaks

24,945.23 Price decrease 575.73 (2.26%)

[Watchfoxheadexplodes]

1. Fox business tounge tide

Lmao

[Angry Dragon]

2. boom

[AJT]

3. It's only 2:30 so we'll see. I suspect this is the beginning of a correction

and not a bear market.

[Wellstone ruled]

4. Only if Powell puts

a 3% rate on US Bonds on Wednesday.

[AJT]

5. Well, I don't see that happening.

[Wellstone ruled]

9. Last night on the Bloomberg

European Market program,this is what the heavy hitters in China and Europe are gunning for a rate increase on Wednesday other wise the sell off goes 10%.

The Foreign Speculators do own or control 40% of the US market. And most Foreign Nations are about at wits end with Trump and his total stupidity.

[A HERETIC I AM]

49. LOL. Please explain how that works

Because I am really curious how Powell can do that

[TNLib]

54. At 24450 it's looking like a crash

[Wellstone ruled]

63. Notice the Market Markers are

hammering the Keyboards big time.

MARGIN CALLS!!!!!!!!

[Wellstone ruled]

60. New Fed Chair

[A HERETIC I AM]

71. Yeah...so?

You said

“Only if Powell puts a 3% rate on US Bonds on Wednesday.”

How? How does the head of the Federal Reserve “put a 3% rate on US Bonds”?

[PoindexterOglethorpe]

51. I am inclined to agree with you.

Of course, how it plays out over the next few days or weeks will tell us if this is a correction -- which the market is very long overdue for -- or a longer bear market.

[Wellstone ruled]

67. Notice the 1 Trillion in Bond sale memo is finnally out.

Up form last years 500+ billion sale.

The Big Boys are heading for the side lines and letting the 401's and IRA's hold the bag. Pure friggin ugly.

[Wwcd]

97. That is it in a nutshell. They're readying for the clean up

[Wellstone ruled]

100. Yup,going to get real Ugly

for the Fixed Income Americans. And the Wealthiest 400 families will be back to clipping their Bond Coupons for the next three generations.

[Lochloosa]

6. Cheap hat for sale....

[malaise]

7. Oh My!

Sorry he isn't wearing that today in Ohio.

[dchill]

106. That should be stapled to his head.

[Yo_Mama_Been_Loggin]

8. 24953.04 right now according to my Fidelity feed

I lost nearly $14,000 in my retirement accounts on Friday. Looks like today may be more of the same.

[A HERETIC I AM]

24. Sooooo....you sold on Friday?

[Yo_Mama_Been_Loggin]

28. No

I have a managed account.

[A HERETIC I AM]

46. Well good!

Cause if you look at the Dow, it’s just back to where it was in early january

[Hortensis]

57. Good point to make. Kind also. :)

I've never been able to time the markets, about as likely to lose continued profits by getting out as to save, and didn't try at this point. Maybe next fall.

[Honeycombe8]

87. Don't sell! I made that mistake years ago.....

What happens is one fine day,,,,,the market JUMPS. Don't know when, but if you sold, you locked in the losses and don't participate in the first big UP day.

[CanonRay]

66. I'm scared to look...

[Flipz Chipz]

10. White House claims to be concerned

Last edited Mon Feb 5, 2018, 09:42 PM - Edit history (1)

Ol' Donald was happy to take credit when the economy was running smooth, what'd you bet he'll blame Obama?


Edit, later this evening, audio of Hannity blaming Obama...Sing song...I told you sooooo!


https://t.co/67RMW8RS0H

[Still In Wisconsin]

79. ...or Hillary, or Schiff, or Pelosi...

how about all of the above?

[Mira]

96. Lock her up!

just kidding.
I have been wondering if it's Obama - Hillary - or the FBI

[Wwcd]

11. Don't remember when I saw the VIX this high in one day

VIX up 48.99% to 25.79 .
As of now, about 3:00 pm ET VIX at 55.98 % ,

5 & 10 yr T Notes & Intel , Apple etc are about the only things up right now.

And Copper.
Hmm

[mopinko]

41. totally self-serving comment- go vix.

i have a chunk of cboe stock coming the end of the month.
they like to say there that the only threat to their business model is a long stretch of peace and prosperity.
now all i have to do is figure when to sell it. it might have a good climb w cheato in charge.

[Wwcd]

50. Point taken. What happened at 12 pm ET to drive it this fast in 3 hrs?

Just curious for that answer.
I checked stocks about noon & it looked like normal movement, then whoa baby..wtf's going on to drive the VIX?

[mopinko]

56. this much volatility will amp it up.

i wish i could speak more factually about it. my ex helped develop it. but i only know that it is basically just betting on which way the market is gonna go. you can bet either way. so when things start going wonky, they go buy a lottery ticket.

i suspect the big thing is the announcement of how much we are going to borrowing. that and increases in average wages, driven by a lot of minimum wage increases that went into effect on jan 1.
and clearly interest rates can only go up.

[Wwcd]

69. Yes. Indeed. I see that US Banks today stopped allowing bitcoin to be

purchased with Credit cards.
FBook also announced they will no longer allow advertismentsfor Bitcoin.

Not that bitcoin is the reason but just adding this

[bearsfootball516]

12. Down 610

[Generic Brad]

13. Glad I had an order in to cash in all my stock at the opening bell today

I had some company stock that I became fully vested in over the weekend so I put in an order to grab it all first thing this morning. My decision had nothing to do with the market activity. I am being severanced in a few weeks and if I don't liquidate my account before I leave I would have lost it all. Too bad I couldn't have done the same with my 401k today.

[Wwcd]

17. + Smart call

[lunasun]

20. Good timing for the sell. sorry about your job ending

[Wounded Bear]

40. So it's your fault?

You started this sell-off?

[Generic Brad]

43. I'm going to blame the Republican tax plan

Everyone below me got a one time bonus. Then hundreds of managers at my level who were just shy of early retirement were let go. I was told that my position was eliminated in part to help pay for those one time bonuses.

[Wounded Bear]

47. Works for me...

sounds like truth to me.

[Orrex]

14. We'd better launch another Benghazi investigation, and quick!

[malaise]

38. May need more than that now

Damn

[The_Casual_Observer]

15. IF he even mentions it, who will he blame?

[lastlib]

95. Who else?--Obama & Clinton....

Oh, and black people. Moozlims.

[uponit7771]

16. VIX is 25 !!!

[obnoxiousdrunk]

34. What is VIX ?

[uponit7771]

42. volatility index, once it goes up things get bad if it was down for a while like it has

... been

[WyattKansas]

18. 666 Again Today???

What will the republicans that claimed Obama was the Antichrist do if Dumbass & Republicans, Inc. go down 666 again?

[bearsfootball516]

19. Down 720. Jesus Christ.

[PearliePoo2]

21. Is this the biggest percentage drop ever?

[Wwcd]

53. Yes. Largest Intra-day Point Drop for DOW in History

per CNBC.

As a side, Jim Kramer looks really depressed

[7962]

84. Percentages are all that matters; points are relative to the total market.

I wish these TV guys would quit talking about "points". Percentages are what matters. Long overdue for a correction. I was telling my friends last May that we'd have one before summer of '18.
They said I just hated trump.

[Wwcd]

93. Lol. Cuz you hate Trump. 🤔

Pres of NYSE is on TV reassuring folks that these things happen & luckily they were prepared.
Ok thanks.

[erronis]

114. I agree about using percentages vs. points. But there are some absolute values that are good -

Strength of earthquakes - not relative to each other, just on their own logarithmic scale.

Same for hurricanes, temperatures, cosmic measurements.

And the depths of depravity of the party in power - scale of 1-10 (10 being overwhelmingly good), -5.

[PoindexterOglethorpe]

55. I'm trusting you simply

neglected to post the sarcasm thingy.

Right now it's down a bit over 3%, a very, very long way from the biggest percentage drop ever.

[Johnny2X2X]

22. Fundamentals appear strong?

I keep hearing this, that the fundamentals are strong because of jobs and wage growth. Well, job growth has actually slowed as has wage growth other than the last month's anomaly.

Growth has been tepid for some time and we have a mad man in the Oval Office.

I try to never let politics cloud my investment judgement, but I'm not so sure the fundamentals are strong and if they aren't and we go into a recession, it's going to be a shock to many investors.

Of note, we haven't been in a recession in 10 years, we will have another one sooner or later.

[UpInArms]

23. Curbs wont apply until the S&P drops 7%

https://www.cnbc.com/2015/08/24/when-do-circuit-breakers-kick-in-cnbc-explains.html

Under the revised rules approved by the SEC in 2012, market-wide circuit breakers kick in when the S&P 500 Index drops 7 percent (Level 1), 13 percent (Level 2), and 20 percent (Level 3) from the prior day's close.

A market decline that triggers a Level 1 or Level 2 circuit breaker before 3:25 p.m. will halt market-wide trading for 15 minutes, while a similar market decline "at or after" 3:25 p.m. will not halt market-wide trading.

[UpInArms]

25. Now the Dow is down 900+ (just over 3%)

nt

[UpInArms]

26. Here are all the numbers

Dow 24,475.06 -1,045.90 -4.10%
S&P 500 2,671.70 -90.43 -3.27%
Nasdaq 7,050.23 -190.71 -2.63%
GlobalDow 3,133.81 -79.45 -2.47%
Gold 1,337.00 -0.30 -0.02%
Oil 63.92 -1.54 -2.35%

[UpInArms]

33. Now down 1600

Dow 23,925.80 -1,595.16 -6.25%
S&P 500 2,638.17 -123.96 -4.49%
Nasdaq 6,992.45 -248.49 -3.43%
GlobalDow 3,115.55 -97.71 -3.04%
Gold 1,336.80 -0.50 -0.04%
Oil 63.83 -1.62 -2.48%

[Wednesdays]

36. How many billions of dollars in losses is that?

Or is it trillions now?

[UpInArms]

48. Dunno, but here is an interesting chart

https://www.marketwatch.com/story/this-is-how-much-money-exists-in-the-entire-world-in-one-chart-2015-12-18

[hatrack]

27. Now down 1,045 as of 3:03 pm

Yowza.

[roscoeroscoe]

35. Ali Veshi pointing at -1,500

How about that?

[hatrack]

29. Down 1,134 3:09 pm

.

[hatrack]

30. Down 1,528 as of 3:10

Never seen anything quite like this before .. .

[PoindexterOglethorpe]

62. There was a day back in the fall of 2008, not too long before the election that year,

where the Dow was gyrating so wildly that it was simply not possible to keep track of what was happening.

[salin]

68. Looks more dramatic because the numbers are so high to begin with.

There were very dramatic drops during Ws first term - but the overall market - then already lower due to 911 - was around 10,000.

Remember we got to collectively see several times when they stopped trading to let things cool down (back then I think that number was 10% - but I could be wrong) - and we suspected when there would be a rise again that there was a plunge protection team (or some similar sounding term) at work behind the scenes.

[hatrack]

77. Oh, yeah - it was just the speed of that 3:00 drop that was interesting

So far we're looking at what, 7-8% off the top so far?

[salin]

88. Eye popping indeed. Reminded me of W's market at its most volatile.

Something about Republican Presidents - and shady big tax cuts - seem to do something to make markets less stable - and at its worst get quite shaky.

[Yo_Mama_Been_Loggin]

31. -1343

[AlexSFCA]

32. 1100 points down and continues to fall quickly

I doubt it has anything to do with inflation, worldwide markets are down. Possibly correction which means 10-20% for next few days. Missed the peak again, haha. I swear if i see it back up again to 26,600 I will move everything to bonds until recession.

[AlexSFCA]

37. couple more days like this and we can call it the beginning of recession??

after we were all predicting that markets would crash as soon as trump becomes president.

[VMA131Marine]

52. Recessions are based on GDP growth not the stock market

I think three successive quarters with negative GDP growth indicates a recession.

[Wednesdays]

39. Volatility Index is over 63%

Last edited Mon Feb 5, 2018, 05:18 PM - Edit history (1)

They were saying it was bad when it hit 20.
https://www.marketwatch.com/story/wall-streets-fear-gauge-breaks-above-20-for-first-time-since-around-trump-election-2018-02-05?mod=bnbh

Edit: it went as high as 106% at around 3:15 p.m. today. Holy shit.

[uponit7771]

44. +1

[jalan48]

45. The super wealthy like to see a few fleas shaken off down below. More opportunities for bargains.

[Wwcd]

64. That's a good point.

Vultures sitting on the side of the road watching for the carcass to stop kicking.

[G_j]

58. 788.58 (3.09%)

[Adrahil]

59. hmmmm... starting to feel like a full blown market panic.

I figured a correct was overdue, so maybe this is it.

[kentuck]

61. I could not believe how fast it dropped !

It was dropping a hundred points in a matter of seconds!

At one time, it had lost over 1600 points! Unbelievable! Not very good for confidence.

[cbdo2007]

72. Almost as shocking as how it went up 1500 points over the past month.

All of that was unnatural growth so this isn't too surprising.

[SummerSnow]

65. His mouth makes the Dow drops

[Wwcd]

70. Because the Patriots lost. As did the many mllions of $$ bet on the SBowl

Says twitter..

[7962]

86. Well then all that money went to the WINNER of the bet, so Vegas mustve done well!

I won 100 at the half in my pool so I won twice last nite!

[Wwcd]

94. Lol. Congrats!$$

[Maeve]

73. If you are going to follow the market, my advice still stands

Buy Tums.

[Nitram]

74. It is not a "crash." It is a correction. Down only 8%. We were overdue for a correction.

Better sooner than later.

[Calista241]

75. Wages are up nearly 1% in the last two months

Which is why this is happening. Investors fear interest rate increases. It’s been since the early 2000’s since interest rates have had this high a risk of going up.

A minor correction is probably a good thing for our economy.

But if wages continue to go up, and interest rates do likewise, the stock market will not grow at the rate it has in the last year.

[TheFrenchRazor]

76. it's nothing but a pyramid scheme anyway. nt

[IronLionZion]

78. I'm sure a lot of algorithmic trading is behind this free fall

just like it was behind much of the 2017 run up. When stocks go up or down too quickly, automatic formulas kick in at many investment banks and hedge funds to automatically buy or sell based on pre-calculated thresholds.

It directly leads towards flash crashes. When this happens, don't panic DUers. Let the freepers panic. It's best to just turn off the news and go do something else until it calms down. Don't make any trades when the market is going crazy. Don't even think about it.

[KPN]

107. Ummm ... but keep in mind that

"don't panic" really depends on where you are lifecycle-wise. If a person is retired like me, capital preservation is the key ... I'm thinking of taking my losses and moving most of my investments to cash if the trend continues in the morning. It's all relative. The market historically has always come back so for those who are sufficiently diversified and a long way from depending on their retirement account, riding it out might be a good strategy.

[IronLionZion]

110. As people get closer to retirement, it's best to gradually shift from stocks

to less risky investments like bonds, real estate, short term reserves, cash, etc. If you want stocks, invest for income and value when nearing retirement and forget about growth.

I'm mid 30s and I trimmed some stocks in late January into cash so that I can pay bills in case something happens. In my line of work, I have to always be ready to lose my income and live off savings for a few months. That's happened to me a few times.

As interest rates rise, I shift money from stocks into bonds or cash. An online saving account is a great place to park cash during high interest rates.

Fortunately for all of us, interest rates are much more predictable than stock prices.

[James48]

80. I would point out that it is still up 15% from one year ago.

And that ain't bad.

(Im sitting on the sidelines waiting to jump in. Just not today.)

[IronLionZion]

111. It's where it was in December

and that's still awesome sauce

[Still In Wisconsin]

81. #Trumpcrash

Let's make that go viral

[malaise]

83. Nicole Wallace just said largest ever intraday drop.

Well he always wanted to be the biggest.

[Still In Wisconsin]

89. Ha! Like having the biggest, hugest, most massive ever, most unbelievable

case of intestinal flu!

[Honeycombe8]

91. Trump Dump! Wall Street investors take a dump. nt

Wall Street investors take a dump!

[Politicub]

82. Another republican recession is on the horizon

Maybe it started today.

Republicans bring with them recessions and massive deficient spending. So it's no surprise the stock market is behaving in the way that it is.

[malaise]

85. Biggliest intraday drop ever

Ah well

[Still In Wisconsin]

92. #Trumprecession

So. Much. Winning.

[MarcA]

109. And the R traitors in Congress will start with the cut Social Security

Medicare, Medicaid, Social Programs and sell off more of the commons
lying mantra.

[elmac]

90. and I just ordered my DOW 26K hat

[malaise]

98. Hehehehehehe

[ffr]

99. A BLOODBATH brought to you and I by the conservatives and their careless agenda

Hillary Clinton must be shaking her head today. Told you so!

[samnsara]

101. well hell! Everythings on sale now.. im buying!!

[n2doc]

102. Imagine if this had happened 1 week ago, before the SOTU

If only it had. Would have loved to see tRump explain away this.

[extvbroadcaster]

103. Just my luck

Funded half my IRA last week. Well, at least the other half is still in the bank.

[Dopers_Greed]

104. Is the Trump slump coming?

I've been slowly putting excess $ into a savings account for years, getting ready to buy low during the next crash.

Could this be it?

[Kablooie]

105. Of course it will be the Democrat's fault along with the Russia investigation.

Trump will say this soon.
Mark my words.

[C Moon]

112. And my retired union job neighbor said (back in December)...

"I'd like to see what he can do."
Well, you're seeing it frigging bonehead.
And this only took 1 year.

[malaise]

113. Yep - they will all see what he can do - it's what he's done all his life

- fuck up other people and walk away with the loot. They will learn