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ffr

(22,670 posts)
Fri Feb 2, 2018, 01:52 PM Feb 2018

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.

The Dow Jones Industrial Average on Friday was on track to shed about 950 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, -2.05% was down 520 points, or about 2%, early Friday as Treasury yields gathered steam following an upbeat jobs report. On a percentage basis, the weekly decline, 3.3%, 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, -1.74% meanwhile, was down 1.7%, at 2,775, while the Nasdaq Composite Index COMP, -1.47% is giving up 1.4% at 7,283.



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.
29 replies = new reply since forum marked as read
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Dow industrial heads for biggest weekly point setback in 9 years, weekly drop of 1,100 (Original Post) ffr Feb 2018 OP
Thanks Trump. MAGA Freethinker65 Feb 2018 #1
MAGA - Make Asshole Go Away Watchfoxheadexplodes Feb 2018 #2
MOPA - Make Obama President Again greatbaldeagle Feb 2018 #10
Impeachment jitters? orangecrush Feb 2018 #3
Yes, this has been going on all week - wonder if the nunes memo is having an affect, is going asiliveandbreathe Feb 2018 #4
should i move everything to stable bonds now? AlexSFCA Feb 2018 #5
Of course it'll be spun to be Obama's fault. George II Feb 2018 #6
"Brag, brag, brag!" yallerdawg Feb 2018 #7
Trumpnomics bronxiteforever Feb 2018 #8
None of the so called Business Talk Shows Wellstone ruled Feb 2018 #9
Which 4 ? RandomAccess Feb 2018 #13
Facebook,Amazon, Wellstone ruled Feb 2018 #14
WOW. Glad I asked. RandomAccess Feb 2018 #15
Hovering around 400 points down as of a few minutes ago. Looks like another selloff. ffr Feb 2018 #11
Business hates worry and we're staring down a constitutional crisis now. mpcamb Feb 2018 #12
Trump takes credit for everything left-of-center2012 Feb 2018 #16
And the tax shortfall next month? mpcamb Feb 2018 #20
Good. ck4829 Feb 2018 #17
Dow plunges more than 500 points as selloff roils markets riversedge Feb 2018 #18
"It's the biggest...the biggest, yugist drop in history"..... llmart Feb 2018 #19
I wish this happened last week before the SOTU speech. BigmanPigman Feb 2018 #21
This is a reaction to drumpf's not keeping Janet Yellin in place Rene Feb 2018 #22
A Modest Correction ProfessorGAC Feb 2018 #23
Sorry, you're wrong. Yavin4 Feb 2018 #24
You Got Me, Yav ProfessorGAC Feb 2018 #29
Now down about 680 (as of 3:45 Eastern) hatrack Feb 2018 #25
there go all my hundreds i made in the stock market samnsara Feb 2018 #26
Yes, but those $1,000 bonuses were falling from the sky, per Fox! hatrack Feb 2018 #27
Welcome to the Trump Economy. Hugin Feb 2018 #28

asiliveandbreathe

(8,203 posts)
4. Yes, this has been going on all week - wonder if the nunes memo is having an affect, is going
Fri Feb 2, 2018, 01:56 PM
Feb 2018

to have an affect...just musing!!

AlexSFCA

(6,137 posts)
5. should i move everything to stable bonds now?
Fri Feb 2, 2018, 01:57 PM
Feb 2018

I am afraid it will continue to drop as russia probe intensifies

yallerdawg

(16,104 posts)
7. "Brag, brag, brag!"
Fri Feb 2, 2018, 01:58 PM
Feb 2018

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.

 

Wellstone ruled

(34,661 posts)
9. None of the so called Business Talk Shows
Fri Feb 2, 2018, 01:59 PM
Feb 2018

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.

 

Wellstone ruled

(34,661 posts)
14. Facebook,Amazon,
Fri Feb 2, 2018, 02:30 PM
Feb 2018

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.

riversedge

(70,236 posts)
18. Dow plunges more than 500 points as selloff roils markets
Fri Feb 2, 2018, 03:29 PM
Feb 2018


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. Bloomberg’s 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)
19. "It's the biggest...the biggest, yugist drop in history".....
Fri Feb 2, 2018, 03:33 PM
Feb 2018

Wonder if we'll hear those words from the orange anus?

ProfessorGAC

(65,048 posts)
23. A Modest Correction
Fri Feb 2, 2018, 04:17 PM
Feb 2018

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

Hugin

(33,148 posts)
28. Welcome to the Trump Economy.
Fri Feb 2, 2018, 05:07 PM
Feb 2018

Looks like those awful Christmas numbers finally came home to roost.

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