Has anybody noticed the U.S. stock market decline?

Dow futures -398

originally posted by: khnum
Dow futures -398

Now down 463. I believe the 5% limit down stop getting triggered is not a far flung idea at this point.

Shanghai is a bloodbath. Halfway through their trading day and they've dropped 8.5%. Looks like China's latest attempt at freeing liquidity has already failed. Oil futures have also dropped below $39... you have no idea how thrilled I am to see that considering I live in a state 80% funded by oil taxes. Thanks you Prop 1 A-holes!

a reply to: burdman30ott6

That is way of looking at the 'glitch' that froze the NYSE a few weeks ago.

While I am not vested in the stock market, I will be checking up on it because of all this.

I feel like our stock market is destined to fail, leaving the common speculator with nothing while the usual fat cats eat up all they can.

a reply to: jrod

The stock market isn't really meant for poor people look at how it came into being.

It started with the east India company

a reply to: onequestion

True, but many middle class folks have entrusted their retirement money to investment funds where expert stock traders are supposed to invest their money wisely and thus providing a huge return over the 20+ years a person contributes to said fund.

A stock market crash would take away[or significantly reduce) many hard working peoples retirement funds. This happened to an extent in 2008 and could happen again(perhaps this week). The middle(working) class get the shaft, while the big players get bailed out. If something like this happens again, I can only hope enough people will wake to the rigged system we have going and have the courage to do something about it.

originally posted by: jrod
If something like this happens again, I can only hope enough people will wake to the rigged system we have going and have the courage to do something about it.

It will and they won't. For anything to change it would have to be so severe that the safety nets were taken away. Middle class America needs to feel like they are about to lose everything before they en mass stand and fight. As long as iPhones are still working, TV is still placating, and social safety nets are still operating, they stand too much to lose (at least in their minds) to rock the boat that much.

a reply to: burdman30ott6

The Chinese market has been stuck at -8.45% for an hour and a half. I'm not sure if that is typical for their market, but given the current climate it seems suspicous to me. Seems to me like something that happened a few weeks back...

a reply to: For Truth

With a half hour left in trading Shanghai is showing an 8.9% loss and Hang Seng is showing 5.6%. As I was typing this, Shanghai has broken through it's day's low point and is headed towards -9% rather quickly. Now at -8.95%

If I am understanding this correctly, the next major technical barrier for Shanghai is actually at 2,194, which means they have another 28% to drop before reaching that point. At today's numbers they could be there before the week is up, too.

a reply to: burdman30ott6

I see that now. As of ten minutes ago, when I could post (cable issues) they had been stuck at the point I said for roughly 90 minutes.

To put this in to some context, though, the past year the Chinese market has skyrocketed but now seems to be correcting itself. The Chinese market always seems to have many highs and lows. I did start getting worried on thursday and friday when the American markets began dropping. Everyone is following suit now, it seems.

Stock up on essentials.

money.cnn.com...

a reply to: For Truth

China's not so different from the US afterall, Looks like the last 30 minutes of a disasterous trading day are owned by the birds of carrion swooping in to pick the bones for value buys. Their markets have seen a mild bounce in the closing minutes and will close off the daily lows.

SHANGHAI SE COMPOSITE INDEX


3,209.91
Delayed Data
As of 3:29am ET
-297.84 / -8.49%
Today’s Change

The Dow is -335 points as of 4am central time. Watch for it to fall even more!

Oh wow...Oil has fallen to 38.98. Crazy.

why is the oil falling?

a reply to: P3tr4Q


A combination of more oil production and less demand is my guess. The Exxon station in Frisco, Texas has fallen to $2.29 now.

originally posted by: onequestion
a reply to: jrod

The stock market isn't really meant for poor people look at how it came into being.

It started with the east India company

Which was also a government granted monopoly.

Like the Fed.

originally posted by: texasgirl
a reply to: P3tr4Q


A combination of more oil production and less demand is my guess. The Exxon station in Frisco, Texas has fallen to $2.29 now.

When oil first started dropping in price I read and heard that it was to put fracking out of business. Fracking oil cost about $40 per barrel.

Less demand I guess. I am always surprised by how much traffic there is during working hours. Like all of the unemployed people are driving around all day. I-5 in California is always full, not slow but a car every 100 yards in both lanes 24/7.

a reply to: Semicollegiate


Interesting. When Denton County tried to ban fracking Governor Abbott overturned it.

A portion of the population now works part time so that's probably the traffic you see. (And the self-employed like myself) But I agree that it seems to be rush hour at all times of the day. At least, where I am.

Oil is at $38.91 and the Dow continues to drop and has lost 418 pts.