Dow sheds more than 500 points on specter of higher interest rates
Source: The Washington Post
By Thomas Heath February 8 at 12:20 PM
U.S. stocks opened down and slid lower in morning trading on Thursday, as volatility kept the markets in its grip.
The Dow Jones industrial average tipped more than 500 points into the red, down around 2 percent during the late morning as fears deepened over rising interest rates.
The technology-laden Nasdaq and the broad Standard & Poors 500-stock index also drifted lower in early trading, the seventh down day in the past nine for the S&P 500. The three major indexes are down about 3.5 percent this week. And the 2018 gains for the Dow and S&P have been wiped out.
European stocks saw across-the-board losses, led by the Germanys blue-chip DAX, which lost 2.6 percent, or 330 points. Most Asia indexes were positive overnight.
Read more: https://www.washingtonpost.com/business/economy/us-stocks-fight-to-pick-up-any-ground/2018/02/08/08cbda2a-0ce0-11e8-8b0d-891602206fb7_story.html
The_Casual_Observer
(27,742 posts)IronLionZion
(45,547 posts)"The Treasury is also having to borrow more money, partly because of the tax cuts, and issuing more debt tends to raise yields."
Also lots of spelling errors throughout the article. Somebody at WaPo forgot to run spell check.
bucolic_frolic
(43,342 posts)"It is a Big Mistake for you to go down!!"
ret5hd
(20,529 posts)bucolic_frolic
(43,342 posts)now lower than Credit Suisse which is rare
djacq
(1,634 posts)Dive! Dive! Dive!
videohead5
(2,181 posts)If they have a 401k they have probably lost most of it if not all.
redstatebluegirl
(12,265 posts)What are they going to think when their credit card minimums go up a ton when the rates increase. When they can't afford to buy a car because of the rate increase.
gyroscope
(1,443 posts)even when the economy is very strong, low unemployment, relatively high wages, most or all the S&P 500 companies are in the black, etc. it can suddenly sink like a rock for no apparent reason. there is not much rhyme or reason to it. and who knows what the people who run the companies do with your money anyway. they may put it in the company or move it to the Caymans, give themselves multi-million dollar bonuses instead of re-investing who knows.
people with IRAs and 401ks are getting wiped out right now. you might as well take all your money to Vegas and bet it all at the roulette wheel.