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Dow plunges more than 1,500 at one point - it's the memo.

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posted on Feb, 5 2018 @ 03:06 PM
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U.S. stocks fell sharply in volatile trading Monday, extending a steep sell-off from the previous session.

The Dow Jones industrial average shed 775 points and briefly declined more than 1,500 points. The 30-stock index also briefly traded flat earlier in the session. The Dow also broke below 25,000 and erased its 2018 gains.

"Breaking the early lows of the day means the correction could go on for longer," said Art Cashin, UBS director of floor operations at the New York Stock Exchange.
source

What do you expect? American's can't trust their government anymore after this memo crap.

So they screwed us once with the memo and now screwing us again.

Thanks tons Dems.


"We're not used to getting washouts like this anymore," said Quincy Krosby, chief market strategist at Prudential Financial.

"The buy-the-dip mentality that has taken over hasn't allowed for that." "This sell-off, in the bigger scheme of things, is not that big. But it is very important in psychological terms," Krosby said.

As I said - we have no faith in our government anymore - and that's going to have lasting implications all across the board - not just the pocket book.


The White House repeatedly touted the stock market's rally last month. When asked about the market's current sell-off, they said they are "always concerned when the market loses any value, but we're also confident in the economy's fundamentals."

Yep, and then along came the memo. *SMH*

I swear most would rather destroy this country before giving Trump a chance at all.

Sourgrapedbastards.




posted on Feb, 5 2018 @ 03:13 PM
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a reply to: silo13

What goes up must come down but that is a pretty hefty fall , it will be be interesting to see if there is a rally tomorrow or if the drop continues.


+22 more 
posted on Feb, 5 2018 @ 03:14 PM
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So what you're telling me is that Trump gets all the credit for the stock market, until it goes south, then it's to the credit of Democrats? Wish I could say I'm surprised.


+16 more 
posted on Feb, 5 2018 @ 03:16 PM
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originally posted by: silo13

...it's the memo.


Uh, no, it isn't. It has to do with interest rates, Treasury Bonds, inflation and a market in need of a correction.


+1 more 
posted on Feb, 5 2018 @ 03:16 PM
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Care to clarify how it is the Democrats fault?

Specifically.



posted on Feb, 5 2018 @ 03:17 PM
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I do not think it was the memo.
I think it was all that cake!



posted on Feb, 5 2018 @ 03:20 PM
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originally posted by: 3NL1GHT3N3D1
So what you're telling me is that Trump gets all the credit for the stock market, until it goes south, then it's to the credit of Democrats? Wish I could say I'm surprised.


Obama was taking credit for it himself.


*shrugs*

I think Obama is an asshole though.

So I'll credit Trump for the rise and the fall since it happened on his watch, regardless what some moron ex-president says.




posted on Feb, 5 2018 @ 03:20 PM
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originally posted by: 3NL1GHT3N3D1
So what you're telling me is that Trump gets all the credit for the stock market, until it goes south, then it's to the credit of Democrats? Wish I could say I'm surprised.


Well Obama got all the credit for it rising by the same people blaming Trump for it falling.



posted on Feb, 5 2018 @ 03:23 PM
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I highly doubt it has much if anything at all to do with politics.



Looking at the broader picture it's still a blip. Nothing at all like 2008. I think you're on the wrong track entirely.



posted on Feb, 5 2018 @ 03:23 PM
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a reply to: silo13

It appears the media is covering up that angle.

... or perhaps the drop has nothing at all to do with the memo.



posted on Feb, 5 2018 @ 03:23 PM
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This is Obama's economy right?

That's what everybody keeps claiming.. will they own it now?



posted on Feb, 5 2018 @ 03:25 PM
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a reply to: Thirty6BelowZero

Oh, I see the hypocrisy, that doesn't change the fact that hypocrisy is alive and well on the other side as well though.

Depending on what side you're on, it's either Trump's fault or Obama's fault. That is the hole they have put us in with their divisive rhetoric. There's no in-between, and that's usually where the truth lies.



posted on Feb, 5 2018 @ 03:26 PM
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originally posted by: 3NL1GHT3N3D1
a reply to: Thirty6BelowZero

Depending on what side you're on, it's either Trump's fault or Obama's fault. That is the hole they have put us in with their divisive rhetoric. There's no in-between, and that's usually where the truth lies.


Exactly



posted on Feb, 5 2018 @ 03:27 PM
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a reply to: silo13

I thought up a crack pit conspiracy theory, not too long ago.
I noticed the stock market fluctuating after Trump either said, or was accused of something outrageous.

I thought, what if he was purposefully manipulating the market, letting people know when to sell, right before he was about to do something egregious.
Sell high, buy low, right after Trump does something silly.



posted on Feb, 5 2018 @ 03:32 PM
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a reply to: silo13

Yellen and what she dropped on Wells Fargo is part of it. www.fastcompany.com...
The unpredictability of what interest rates are going to do. Weaker dollar. The fact that the market is over priced and needs to correct. The memo has little if anything to do with what the market is doing. Almost 1900 points in two days, that is quite a chunk of change.




posted on Feb, 5 2018 @ 03:33 PM
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originally posted by: silo13
What do you expect? American's can't trust their government anymore after this memo crap.


Er, this may have more to do with the prospect of a hike in interest rates AND stocks and shares being over-priced. Bankers don't give a toss about memos.



posted on Feb, 5 2018 @ 03:34 PM
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originally posted by: 3NL1GHT3N3D1
So what you're telling me is that Trump gets all the credit for the stock market, until it goes south, then it's to the credit of Democrats? Wish I could say I'm surprised.


That's exactly what I'm saying.

If it were not for the MEMO I don't believe the DOW would have crashed the way it did.



posted on Feb, 5 2018 @ 03:36 PM
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originally posted by: 3NL1GHT3N3D1
a reply to: Thirty6BelowZero

Oh, I see the hypocrisy, that doesn't change the fact that hypocrisy is alive and well on the other side as well though.

Depending on what side you're on, it's either Trump's fault or Obama's fault. That is the hole they have put us in with their divisive rhetoric. There's no in-between, and that's usually where the truth lies.


I know. I admit, I credited Trump for the rise, so he gets the credit for the fall since this is on his watch. I just want a strong economy again. I'm not very market savvy but I'm hearing a lot about how things will change tomorrow.



posted on Feb, 5 2018 @ 03:37 PM
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the stock market lost 45% of it`s benchmark value during the Watergate scandal, government corruption makes the stockmarket nervous I suppose.



posted on Feb, 5 2018 @ 03:39 PM
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a reply to: silo13

At least you're honest about it.


The drop probably has little to do with the memo or Trump, but people like to politicize literally everything these days and blame one side or the other. It feels good to throw blame on people, doesn't it?
edit on 2/5/2018 by 3NL1GHT3N3D1 because: (no reason given)



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