Dow industrial heads for biggest weekly point setback in 9 years, weekly drop of 1,100
Last edited Fri Feb 2, 2018, 05:48 PM - Edit history (2)
Source: Marketwatch
The Dow Jones Industrial Average on Friday was on track to shed more than 1,105 points for the week, which would be its steepest weekly slide since Oct. 10 2008, when it shed 1,874 points, according to FactSet data. The Dow DJIA, -2.54% was down 680 points, or about 2.5%, early Friday as Treasury yields gathered steam following an upbeat jobs report. On a percentage basis, the weekly decline, 4.2%, would be the worst for the blue-chip gauge since the 6.2% weekly decline in early January of 2016. Rising yields can undercut appetite for assets perceived as risky, including stocks. The S&P 500 index SPX, -2.12% meanwhile, was down 2%, at 2,767, while the Nasdaq Composite Index COMP, -1.96% is giving up 1.7% at 7,265.
Read more: https://www.marketwatch.com/story/the-dow-industrials-have-tumbled-730-points-this-week-its-worst-point-loss-in-2-years-2018-02-02?mod=bnbh
From one hour after original post.
Thread updated above. Seems to be dropping another 50 points every hour.
From earlier.
[div class"excerpt"]The Dow Jones Industrial Average on Friday was on track to shed about 813 points for the week, which would be its steepest weekly slide since January 2016, when it shed 1,079 points, according to FactSet data. The Dow DJIA, -1.37% was down 380 points, or 1.4%, early Friday as Treasury yields gathered steam following an upbeat jobs report. On a percentage basis, the weekly decline, 3.1%, would also be the worst for the blue-chip gauge since the 6.2% weekly decline also in early January of 2016. Rising yields can undercut appetite for assets perceived as risky, including stocks. The S&P 500 index SPX, -1.00% meanwhile, was down 1.2%, at 2,789, while the Nasdaq Composite Index COMP, -0.81% gave up 1.1% at 7,303.
Freethinker65
(10,023 posts)Watchfoxheadexplodes
(3,496 posts)Just sayin
greatbaldeagle
(157 posts)orangecrush
(19,570 posts)asiliveandbreathe
(8,203 posts)to have an affect...just musing!!
AlexSFCA
(6,137 posts)I am afraid it will continue to drop as russia probe intensifies
George II
(67,782 posts)yallerdawg
(16,104 posts)Then it's back to "market forces," "prior administration's policies,"and "the government doesn't create jobs."
Same old song and dance. When the R's policies start to take hold.
bronxiteforever
(9,287 posts)Wellstone ruled
(34,661 posts)are talking about the accumulative numbers or the effect it is and has had on 401's or IRA's. Bloomberg Europe delved into this for five minutes last night. Four Stocks are moving the market,and the other 1700 are getting crushed.
RandomAccess
(5,210 posts)Wellstone ruled
(34,661 posts)Intel and Apple. The next group are the Mega Banks. Bonds are in free fall as well as Treasuries. Britain and Japan are selling Treasuries off since last Sunday. And these are the two largest outside of US holders of Treasuries.
RandomAccess
(5,210 posts)Of course, it means almost nothing to me, but I really appreciate the info.
ffr
(22,670 posts)mpcamb
(2,871 posts)left-of-center2012
(34,195 posts)Will he take credit for this too?
mpcamb
(2,871 posts)riversedge
(70,239 posts)Dow plunges more than 500 points as selloff roils markets
http://www.chicagotribune.com/business/ct-biz-dow-jones-stock-market-falls-20180202-story.html
Dow Jones Industrials Average Opens Down Over 200 Points
Traders and financial professionals work on the floor of the New York Stock Exchange ahead of the opening bell, February 2, 2018 in New York City. The Dow dropped 250 points at the open on Friday morning. (Drew Angerer / Getty Images)
Jeremy HerronBloomberg
The Dow Jones industrial average has fallen more than 500 points Friday as a sellof in U.S. assets picked up steam.
Strong jobs data increased the likelihood the Federal Reserve will lift rates next month. Equities sank toward the worst week in two years and Treasuries tumbled to a four-year low.
The S&P 500 Index dropped the most since August, pushing its five-day rout to 3 percent after the 10-year Treasury yield popped above 2.85 percent for the first time since January 2014. Bloombergs dollar index surged to erase a weekly loss. Energy shares plunged more than 3 percent Friday. The tech selloff worsened, sending the Nasdaq 100 Index lower by 1 percent even as Amazon.com Inc. rallied to a record on earnings. Apple Inc. lost 1.2 percent amid a disappointing sales forecast, while AlphabetInc. sank 5 percent.
llmart
(15,540 posts)Wonder if we'll hear those words from the orange anus?
BigmanPigman
(51,608 posts)Rene
(1,183 posts)ProfessorGAC
(65,058 posts)Lots of long term holders decided to max out gains.
The one positive is that this shuts up the idiot for at least a weekend about the great economy
Yavin4
(35,441 posts)Nothing shuts up that idiot about anything.
ProfessorGAC
(65,058 posts)What could I have been thinking!
hatrack
(59,587 posts)Wheeeeeeee!!!!!!!!!!!!!!!!!!!
samnsara
(17,622 posts)hatrack
(59,587 posts)Hugin
(33,153 posts)Looks like those awful Christmas numbers finally came home to roost.