Dow drops more than 500 points
Source: Yahoo news
Stocks slumped Wednesday while Treasury yields continued to rise.
Yields on the 10-year Treasury note climbed to 3.214%, while the 30-year yield edged higher to 3.382%. The higher yields put downward pressure on stocks, with the S&P 500 posting decreases for its fifth straight day.
The S&P 500 (^GSPC) fell 1.98%, or 56.48 points at 2:10 p.m. ET. The Dow (^DJI) fell 1.96%, or 513.93 points. The Nasdaq (^IXIC) slipped 2.37%, or 180.1 points.
Read more: https://finance.yahoo.com/news/dow-drops-200-points-treasury-yields-move-higher-141746422.html
Ladies and gentlemen, stock market getting hammered today, now that tariffs are starting to kick in, and companies and individuals are getting hit hard with new Trump Tariff Taxes. (TTT)
this is what is known as
the beginning of the TRUMP TUMBLE.
DavidDvorkin
(19,479 posts)Somehow.
DBoon
(22,366 posts)every dictator needs an enemy to hate
Achilleaze
(15,543 posts)"I really screwed up with my stupid tariffs thingy, and pissing off all America's friends, and telling all those damn lies. Gosh darn it, I sure am sorry and all that kinda shit. Wink Wink." - Dirty Donny (R)
* aka republican Draft-Dodger-in-Chief
lapfog_1
(29,205 posts)and the bailout of certain farmers isn't going to help.
And be VERY afraid if China decides to start selling off their Tbill holdings.
bearsfootball516
(6,377 posts)enid602
(8,620 posts)I read that Verizon will soon outsource 40k IT jobs, and Sears is closing more shops.
cstanleytech
(26,293 posts)Congress and thus the power to reign Trump in if he was doing anything that they truly did not endorse or support.
Iliyah
(25,111 posts)doesn't help. And my gosh, gas prices are rising let alone other items are rising.
Rebl2
(13,516 posts)in September said we would see gas prices go down after Labor Day, but they havent. Here in Kansas City area they announced yesterday Ford here was laying off a lot of people soon, but didnt realize it was across the country.
ZeroSomeBrains
(638 posts)On behalf of our president.
Bengus81
(6,931 posts)Simply because those huge rises in the DOW were based on NOTHING. That asshat is adding to the National Debt at an alarming pace seeing how he inherited an ultra low unemployment rate and a stable economy.
Funny how NOTHING is being said about adding $1 TRILLION to the ND in a mere eight months and 18 days. The orange SHIT GIBBON is well on track to hitting $2 TRILLION in new debt by 1/20/19.
dweller
(23,640 posts)Kurt V.
(5,624 posts)pretzel4gore
(8,146 posts)Mr PIg has the Midas touch- all he needs to double (triple) the Dow is to blow something up. It's astounding how we let mr pig and co. to pervert the system. How can the world be flat if its round like a ball?
What is 'quantative easing'? Isit the use of public money to buy stocks in order to fake the value of the stock, to falsely establish a prosperity, with the caveat that IF ANYONE TRIES anything to reveal the FACTS, then the balloon will be pricked and ....omfg! Lookit what you have done! The US BUCK IS ....Trump's toilet paper! (The NY Times actually better as wipe!).
Iow, to save the village we must blow it up! Then the Dow rally big time!
The race of 2 herds of turtles!
Johnny2X2X
(19,066 posts)We'd have a recession no matter who was in office, we've been a decade without a recession, these things are cyclical to an extent. What Trump has done though will hasten its coming and make it much deeper than it would have been.
7962
(11,841 posts)Sorry Donald but thats how it works.
RussBLib
(9,019 posts)sad state of affairs
TeamPooka
(24,228 posts)duforsure
(11,885 posts)Before the con man starts blaming others and saying it was not his doings, when we all know its all going to catch up to him and the gop from taking trillions out of the economy, and expecting it to get better when the only ones really benefiting are the wealthy, especially with their tax scams for them. They've also taken billions , no trillions out of Medicaid, Medicare and health care , and its killing the middle class and poor , then add to that tariffs and skyrocketing energy costs, which happen just like it did under W Bush too. It will continue to get worse , a lot worse with these policies they've done for the wealthy. This is just the tip of the iceberg .
bronxiteforever
(9,287 posts)BigmanPigman
(51,608 posts)It is probably going to continue to fall more tomorrow.
bronxiteforever
(9,287 posts)gordianot
(15,238 posts)My Ford dealer of 40 years is screaming bloody murder on Trump tariffs.
BigmanPigman
(51,608 posts)that the farmers and everyone else who is bitching about the trade wars and tariffs now will be thanking the moron very soon. Bill wasn't buying it.
gordianot
(15,238 posts)Since the pastures dried up June and July my renter is selling off cattle. He is complaining about Trump and is the last Republican I knowingly deal with. We are not charging him for use of pasture this year or next.
CaptainTruth
(6,592 posts)grantcart
(53,061 posts)ffr
(22,670 posts)It'll chip off more than 2 voters per precinct, enough to tip the scales back to representatives of the people, instead of representatives out for themselves.
brush
(53,784 posts)bearsfootball516
(6,377 posts)For it to have a real impact on voters, it'll need to keep dropping like this for the next several days.
If that happens, Trump is going to have a big problem on his hands, and the House race is going to turn into a wipeout.
PeeJ52
(1,588 posts)Skimming off the top, because they can short individual stocks, unlike us poor saps with 401ks and IRAs tied up in mutual funds. See, they take our losses from our mutual funds and put them in their piggy banks, run the prices back up to make us think we're getting rich again, then take it right back down. With all this "great" stock market performance, my 2030 Performance Fund hasn't hardly gained anything. The only ones that have gained are the ones that know how and can manipulate individual stocks. Mutual Funds are just holding their own.
AlexSFCA
(6,137 posts)there are more important factors (for 99%) such as unemployment rate, consumer confidence index, even car sales.
KayF
(1,345 posts)IronLionZion
(45,447 posts)and in need of a correction.
They're blaming this dip on rising interest rates. But the impact of his disastrous trade and immigration policies is yet to come.
Businesses have gotten used to cheap lending. And rates will just keep rising.
The Liberal Lion
(1,414 posts)I do know that bond yields will continue to rise as this fake government continues to produce more debt than a drunken teen with a stolen credit card. I'm not against debt, it can be a very valuable tool when used for investment purposes. But that's not what's happening to the debt now. The debt now is being used to subsidized the theft of resources from the people to the very exclusive 1%. What's happening now is simply unsustainable.
LovingA2andMI
(7,006 posts)The Sell-Out Media would have already declared a Recession based on today's drop.
Vinca
(50,273 posts)Ford said they're losing a billion dollars this year because of the tariffs and I'm sure they're not alone. Considering how Don ran his business "empire" (see New York Times article), catastrophe is inevitable. I bet Trump blames it on the Fed.