Global Selloff: U.S. Stocks Sink; Dow Down Over 200 Points

[Purveyor]

U.S. stocks retreated the most in three weeks as American Express Co. tumbled to its lowest level since 2013, data signaled stronger inflation and China tightened trading rules.

American Express fell 4.8 percent after quarterly revenue missed estimates. Travelers Cos., 3M Co. and Microsoft Corp. dropped more than 2 percent to pace declines in the Dow Jones Industrial Average. Advanced Micro Devices slumped 13 percent after saying it is hard to see whether the second half will be “substantially better” than the first half of the year.

The Standard & Poor’s 500 Index fell 1 percent to 2,083.55 at 12:43 p.m. in New York, near its average price for the past 50 days. The Dow lost 251.31 points, or 1.4 percent, to 17,854.46. The Nasdaq Composite Index slid 1.5 percent.

“We’re very early in the earnings season and with multiples much higher now there’s some nervousness,” said Steve Bombardiere, an equity trader at Conifer Securities LLC in New York. “We need to get further into the season until we get some direction so right now these little things in the background are good fodder for some short-term gut wrenching.”

The S&P 500 was little changed yesterday after approaching its all-time high. While equity indexes from Asia to Europe have climbed to multiyear highs in recent days, the S&P 500 and Dow last hit theirs on March 2, the same day the Nasdaq Composite Index topped 5,000 for the first time in 15 years. The 32-day stretch without celebrating a fresh high is the S&P 500’s longest since July 2013.

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http://www.bloomberg.com/news/articles/2015-04-17/u-s-index-futures-retreat-before-ge-honeywell-report-earnings

[Wellstone ruled]

1. Looks like the 10% the 1%ers wanted.

Have not worked out the formula as to how much the Market drops in correlation to the drop in Crude Oil price. Only follow a few stocks,but,have noticed a precipitous increase in their Short positions as Crude price drops. Looks like the Oil Bookies are shorting mostly Industrial ETF's to back fill their Bankrolls as they eat the price declines. The Option Markets through the first couple of weeks June are different. Meaning,lots of what is called butterfly positions. Appears the Mega Rich are trying to clean out our IRA's and really make those 401's look like 104's again.

Appears we are seeing the first of many 1%ers Harvesting moves,they know full well that there will be major changes in Tax structures and off shore stashing after 2017. The Republicans are doing their damnest to change Tax structure as we speak. Also,some thing huge is taking place in our country when you see the numbers in the Red States of people who are lovin their Obama Care.

Watching to see if the 1%ers go beyond the 10%,if they do and start their big push for Entitlement Change,we will have a interesting 18 months. My question is,is this the start of what has been refereed to as the Republican Economic Engineered Crash?

[jakeXT]

2. -318

http://www.google.com/finance?cid=983582