Bethea's Byte Reloaded
Dow Plummets 830 Points In Worst Drop Since February JJnrk
Welcome to Bethea's Byte Reloaded. If you are a member, please sign in and participate. If you are not a member, please sign up and join the conversation. We'd love to hear from you.
Bethea's Byte Reloaded
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Welcome
Log in

I forgot my password

Notifications
    Who is online?
    In total there are 5 users online :: 0 Registered, 0 Hidden and 5 Guests :: 1 Bot

    None

    [ View the whole list ]


    Most users ever online was 156 on Wed Jul 03, 2019 11:22 am
    Recent Members
    See more
    Statistics
    We have 42 registered users
    The newest registered user is JanCarter

    Our users have posted a total of 4443 messages in 2050 subjects
    Latest topics
    » Last thing you ate/drank
    Dow Plummets 830 Points In Worst Drop Since February Clock-10Yesterday at 4:52 pm by Kyng

    » What are you looking forward to right now?
    Dow Plummets 830 Points In Worst Drop Since February Clock-10Yesterday at 4:51 pm by Kyng

    » How are you feeling right now?
    Dow Plummets 830 Points In Worst Drop Since February Clock-10Thu Mar 21, 2024 7:26 am by Cool Cory

    » What are your plans for the day
    Dow Plummets 830 Points In Worst Drop Since February Clock-10Sat Feb 17, 2024 10:06 am by Kyng

    » What are your plans for the day.
    Dow Plummets 830 Points In Worst Drop Since February Clock-10Wed Sep 27, 2023 1:49 am by Cool Cory

    » 2023/24 NFL season
    Dow Plummets 830 Points In Worst Drop Since February Clock-10Wed Sep 20, 2023 4:34 am by Cool Cory

    » Karen freakout compliation
    Dow Plummets 830 Points In Worst Drop Since February Clock-10Mon Jul 17, 2023 2:30 am by Benny

    » What NFL team do you support?
    Dow Plummets 830 Points In Worst Drop Since February Clock-10Wed Jul 12, 2023 4:55 am by Cool Cory

    » NFL 2023 fixture release
    Dow Plummets 830 Points In Worst Drop Since February Clock-10Wed Jul 12, 2023 2:26 am by Cool Cory

    » 2022-2023 NFL SEASON
    Dow Plummets 830 Points In Worst Drop Since February Clock-10Sun Jan 22, 2023 7:08 pm by The Last Outlaw

    March 2024
    SunMonTueWedThuFriSat
         12
    3456789
    10111213141516
    17181920212223
    24252627282930

    Calendar Calendar

    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





    IconSkouliki
    BG Music

    Dow Plummets 830 Points In Worst Drop Since February

    2 posters

    View previous topic View next topic Go down

    The Last Outlaw
    The Last Outlaw
    Head Administrator
    Head Administrator
    Location : Salem, Oregon
    Gender : Male
    Posts : 2894 Zodiac Sign : Aquarius Age : 48 Birthday : 1976-02-07
    Join date : 2018-05-25
    Status :
    Online
    Offline

    http://betheasbyte.com/

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

    Dow Plummets 830 Points In Worst Drop Since February Em4bX

    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.
    Dow Plummets 830 Points In Worst Drop Since February R9Zf

    _________________
    Dow Plummets 830 Points In Worst Drop Since February Ro5An
    Dow Plummets 830 Points In Worst Drop Since February OPVAG.mdDow Plummets 830 Points In Worst Drop Since February OPpMB.md


    UFC Fight Night 192: Smith vs. Spann
    Kyng
    Contributing Manager
    Contributing Manager
    Posts : 694 Join date : 2018-05-30
    Status :
    Online
    Offline

    PostKyng 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