Bethea's Byte
Log in

I forgot my password

Who is online?
In total there are 2 users online :: 1 Registered, 0 Hidden and 1 Guest

The Last Outlaw

[ View the whole list ]


Most users ever online was 16 on Tue Jan 29, 2019 7:55 pm
Statistics
We have 19 registered users
The newest registered user is javajunkie

Our users have posted a total of 1376 messages in 515 subjects
February 2019
SunMonTueWedThuFriSat
     12
3456789
10111213141516
17181920212223
2425262728  

Calendar Calendar

Latest topics
» Intimidation, Pressure and Humiliation: Inside Trump’s Two-Year War on the Investigations Encircling Him
Today at 2:16 pm by The Last Outlaw

» White House Memo: The War That Wasn’t: Trump Claims Obama Was Ready to Strike North Korea (Full Article)
Today at 1:42 pm by The Last Outlaw

» What are your plans for the day.
Today at 9:42 am by Naiwen

» Allies Wary of Shanahan's Assurances with Looming Presence of Trump
Yesterday at 10:40 pm by The Last Outlaw

» Seven Labour MPs leave party, form "The Independent Group"
Yesterday at 4:32 pm by The Last Outlaw

» What are you looking forward to right now?
Yesterday at 4:24 pm by Kyng

» How are you feeling right now?
Yesterday at 4:23 pm by Kyng

» Naiwen’s Musings
Yesterday at 2:30 pm by Naiwen

» Report: Japan Did Nominate Trump for Peace Prize — at U.S. Request
Yesterday at 12:27 pm by The Last Outlaw

» Prince Harry and Meghan Markle May Send Their Child to an American School Over Traditional Eton, Reports Say
Yesterday at 12:06 pm by The Last Outlaw

» Prince Harry and Prince William Are Reportedly Splitting Up the Royal Household Soon
Yesterday at 11:42 am by The Last Outlaw

» Trump Rails Against ‘SNL,’ Again, And Suggests ‘Retribution’ for NBC
Sun Feb 17, 2019 2:17 pm by The Last Outlaw

» POINT: Trump is Walling Off the GOP. COUNTERPOINT: No Wall, No Peace
Fri Feb 15, 2019 9:48 pm by The Last Outlaw

» POINT: Donald Trump's Emergency Declaration is an Attack on Democracy COUNTERPOINT: President is Forced Into Declaring a National Emergency
Fri Feb 15, 2019 8:47 pm by The Last Outlaw

» Trump Spats With CNN’s Jim Acosta During National Emergency Speech: ‘You're Fake News’
Fri Feb 15, 2019 7:09 pm by The Last Outlaw

» Ann Coulter Fires Back at Trump: 'The Only National Emergency Is that Our President Is an Idiot'
Fri Feb 15, 2019 6:59 pm by The Last Outlaw

» Judge Puts Gag Order on Roger Stone and Attorneys
Fri Feb 15, 2019 6:51 pm by The Last Outlaw

» Two Brothers Arrested in Connection With Attack on Jussie Smollett
Fri Feb 15, 2019 5:46 pm by The Last Outlaw

» Trump's Raid on Pentagon Funds Draws Bipartisan Hill Fire
Fri Feb 15, 2019 5:14 pm by The Last Outlaw

» ACLU Announces Lawsuit Against Trump Over 'Blatantly Illegal' National Emergency
Fri Feb 15, 2019 5:02 pm by The Last Outlaw

Top posting users this week
Affiliate With Bethea’s Byte


Bethea's Byte

Anti-Spam Bots!

Submit Your Site To The Web's Top 50 Search Engines for Free!






The Coffee House


Planet Nexus


mindsConnected


IconSkouliki


Atrium


Atrium

Dow Plummets 830 Points In Worst Drop Since February

View previous topic View next topic Go down

The Last Outlaw
The Last Outlaw
Head Administrator
Head Administrator
Male Posts : 670
Age : 43
Join date : 2018-05-25
Location : Salem, Oregon, USA
Status :

View user profile http://betheasbyte.forumotion.com/forum

PostThe Last Outlaw on Wed Oct 10, 2018 2:27 pm


From CNBC

Fred Imbert and Alexandra Gibbs of CNBC wrote:Stocks sank Wednesday as a steep decline in tech shares and worries of rapidly rising rates sent Wall Street through its worst day in months.

The Dow closed 831 points lower as Intel and Microsoft fell more than 3.5 percent each. The Nasdaq plummeted more than 4 percent.

The S&P 500 dropped 3.3 percent, with the tech sector underperforming. The broad index also posted a five-day losing streak — its longest since November 2016 — and fell below its 50-day and 100-day moving averages, widely followed technical levels.

Both the Dow and S&P 500 posted their biggest one-day drops since early February, while the Nasdaq notched its largest single day sell-off since June 24, 2016.

Stocks have fallen sharply this month. For October, the S&P 500 and the Dow are down more than 4.4 percent and 3.3 percent, respectively. The Nasdaq has lost more than 7.5 percent.

Rising rate fears and a pivot out of technology stocks have made it a rough last few days. The Dow has dropped in four of the past five sessions, losing nearly 900 points over that span.

Shares of Amazon declined more than 6 percent Wednesday, while Netflix slid more than 8 percent. Facebook and Apple also fell more than 4 percent each. These stocks are top performers for the year and for most of the bull market. For the overall tech sector in the S&P 500, it was the worst day in seven years.

"People are getting out of the high-flying tech names right now," said Larry Benedict, CEO of The Opportunistic Trader. "I think people are under-hedged; there could be more pain ahead."

Worries about a sharp rise in interest rates also pressured equities. The 10-year Treasury note yield traded around 3.23 percent a day after hitting its highest level since 2011. The two-year yield, meanwhile, reached its highest mark since 2008. The speedy rise in yields has sent worries through Wall Street that higher borrowing costs will slow down the economy.

"Portfolio managers tend to move to the sidelines in a skittish tape out of fear of suffering from a quick and sharp pullback," said Jeremy Klein, chief market strategist at FBN Securities.

"The fundamental environment, though, remains supportive of share appreciation. I contend that the concerns of rising interest rates are largely overblown. Specifically, I do not anticipate much more of an increase in longer dated Treasury yields," he said.

Rates rose on Wednesday after the U.S. government released data showing a rebound in producer prices last month. The producer price index rose 0.2 percent in September and is up 2.8 percent on a year-over-year basis. The index is a widely followed metric of inflation.

The recent rise in rates comes ahead of the start of the latest earnings season. Banks such as Citigroup and Wells Fargo are scheduled to report later this week. Overall, analysts polled by FactSet expect third-quarter earnings to have risen by 19 percent on a year-over-year basis.

But "there are just too many concerns about the rise in input costs," said Art Hogan, chief market strategist at B. Riley FBR. "Ongoing concerns about the stronger dollar and trade are being input into corporate guidance, and that is not good."

"This goes back to the assumption that the market made wrongly . . . that once we got NAFTA 2.0 done, we'd pivot to China," he said. But "the rhetoric on China has only gotten worse, not better."

Stocks also fell as their European counterparts dropped on worries over Italy's budget. The Stoxx 600 index fell 1.6 percent, while the German Dax dropped 2.2 percent. France's CAC 40, meanwhile, pulled back 2.1 percent.

This is never a good sign.  When the stock market takes a hit like this, the economy is usually affected.  Let's keep a watch on this to see what happens next.

Just saying.

_________________

Kyng
Member
Member
Posts : 177
Join date : 2018-05-30
Status :

View user profile

PostKyng on Thu Oct 11, 2018 6:36 pm

Well, it's dropped another 546 points today:

http://www.abc.net.au/news/2018-10-12/dow-falls-sharply-wall-street-global-sell-off/10367902

Let's hope it's just a correction, and not the beginning of something bigger....

View previous topic View next topic Back to top

Create an account or log in to leave a reply

You need to be a member in order to leave a reply.

Create an account

Join our community by creating a new account. It's easy!


Create a new account

Log in

Already have an account? No problem, log in here.


Log in

 
Permissions in this forum:
You cannot reply to topics in this forum