After the strong rally over the past two years, we knew we were in for it: S&P and Dow both down over 4% this week, erasing all of 2018's gains. https://www.reuters.com/article/us-usa-stocks/wall-street-plunges-sp-500-erases-2018s-gains-idUSKBN1FP1OR I was shocked at how much my portfolio had risen in the month of January alone. But the market giveth and the market taketh away.
While all of 2018's gains may have been erased, it would be well to remember that we're only in the first week of Februrary 2018. This always sounds to me like: YOU'RE FUCKED! YOUR PORTFOLIO IS WHERE IT WAS 30 DAYS AGO!
I noticed he didn't tweet about this one even though he was tweeting daily about the stock market until... Why last Thursday. The market was down 400 Friday and 1100 today so could there be a connection?
Lol he didn't tweet about this because he was giving a televised address about how strong the economy is and how "his" tax reforms are to thank for it... whilst the Dow marker in the ticker was freefalling. There's gonna be some epic screencap GIFs of that.
Two observations: This is apparently in response to "wage gains" - demonstrating fairly conclusively that the performance of the stock market is disconnected from, or even in tension with the interests of the majority of people. If the economy is indeed overheating, then Trumps tax cuts will add fuel to the fire at just the wrong time. The possibility of another financial crisis is evident, and Americans are being led by the clown car.
I do enjoy when the professional gamblers go into PANIC!!!!! mode immediately. This is nothing. It's a little correction for an overheating market. So... where should all the money 'flee' to? I'll say Bitcoin. That's safe and backed by real values
You forget that corporate america has had all employees put their retirement funds into the market instead of funding pensions. Just about everyone has skin in the game.
This is the Trump tax cut crash. Companies took their cash and bought back their stock over the last year driving up the price. Now poof its going away.
I've got an actual pension coming when I retire, but we were just told that our 401k matches will be stock instead of cash from now on.
Which has turned out to be kind of an ugly thing in retrospect. Sure you have a chance to see your retirement funding not shrink because of inflation, but now you have an interest in not seeing scummy corporations be punished because hey, it's a hit to your future wallet if you hold stock in them. It's potentially another form of "too big to fail".
The process of the stock market is pretty much the same as the process of the casino. It takes the money and dreams of poor people and funnels it to the greedy and rich. It is too bad our banking institutions are allowed to funnel our tax money into it now. Hopefully we will get some protections back after the next crash. That is until Chelsea Clinton and the republicans get together to take them away with the Obama girls.
Corporations have been buying their stock back with borrowed cash since interest rates were low, now interest rates are going higher so they now have to sell.
Another day down. 1000 point drop for the Dow today. I'm starting to regret front loading my IRA this year.
I'm okay but my children are screwed! Back once I knew I was getting out of the Army and so would start a family soon (that and quitting smoking were my wife's requirements), I started putting $100 a pay check into a mutual fund for them that was invested very aggressively. The last 6 years they've done very well but this week. Ouch. Luckily they are 5 and 2 so have taken it pretty well. "That's okay Daddy... Daddy, what's a Stop Market?"
I know. It’s like your mortgage and car will cost more, now. But that’s okay. You can afford it because of wage growth and my tax cut.
