Scott Posted September 13, 2022 Share Posted September 13, 2022 The stock market fell the most since June 2020 following Wall Street’s humbling realization that inflation is not slowing as much as hoped NEW YORK -- The Dow Jones Industrial Average sank more than 1,250 points Tuesday, its steepest sell-off in more than two years, after a government report showed that inflation is maintaining a surprisingly strong grip on the U.S. economy. The S&P 500 sank 4.3%, its biggest drop since June 2020. The Dow fell 3.9% and the Nasdaq composite closed 5.2% lower. The sell-off ended a four-day winning streak for the major stock indexes and erased an early rally in European markets. https://abcnews.go.com/Business/wireStory/asian-stocks-gain-ahead-us-inflation-report-89797779 Link to comment Share on other sites More sharing options...
Popular Post SunnyinBangrak Posted September 14, 2022 Popular Post Share Posted September 14, 2022 Quite surreal moment watching biden bragging how he singlehandedly beat inflation as the screen showed the stock market tanking 1,200 points due to fears over inflation. 2 1 Link to comment Share on other sites More sharing options...
mania Posted September 14, 2022 Share Posted September 14, 2022 There is a triple witching this Friday Sept 16th 1 Link to comment Share on other sites More sharing options...
Popular Post John Drake Posted September 14, 2022 Popular Post Share Posted September 14, 2022 The markets need to crash. Bring'em down. The housing bubble prevents young people from owning their own home and building their families. Getting rid of the stocks bubble will help send some of that excess liquidity to money heaven. Meanwhile, getting interest rates up to what used to be normal levels will reward savers and punish debtors, instead of doing things the other way around since 2008. 3 Link to comment Share on other sites More sharing options...
EVENKEEL Posted September 16, 2022 Share Posted September 16, 2022 I don't even look at my retirement funds balances any longer. They had just started to gain and now this. Sad times. Link to comment Share on other sites More sharing options...
EVENKEEL Posted September 17, 2022 Share Posted September 17, 2022 On 9/13/2022 at 8:21 PM, SunnyinBangrak said: Quite surreal moment watching biden bragging how he singlehandedly beat inflation as the screen showed the stock market tanking 1,200 points due to fears over inflation. This says it all. Link to comment Share on other sites More sharing options...
Popular Post LarrySR Posted September 17, 2022 Popular Post Share Posted September 17, 2022 (edited) On 9/14/2022 at 10:21 AM, SunnyinBangrak said: Quite surreal moment watching biden bragging how he singlehandedly beat inflation as the screen showed the stock market tanking 1,200 points due to fears over inflation. The market is down 19.16%. Did that twice during the last administration. It was surreal when Trump bragged about the "best economy in history" when he was putting the arm on the Fed to lower rates and printing $7.8 trillion debt to goose the market. Left office with 10 million more unemployed than when he started and worst economic conditions since 1929. Edited September 17, 2022 by LarrySR 4 Link to comment Share on other sites More sharing options...
EVENKEEL Posted September 17, 2022 Share Posted September 17, 2022 2 hours ago, LarrySR said: The market is down 19.16%. Did that twice during the last administration. It was surreal when Trump bragged about the "best economy in history" when he was putting the arm on the Fed to lower rates and printing $7.8 trillion debt to goose the market. Left office with 10 million more unemployed than when he started and worst economic conditions since 1929. This is about what's happening now. The irony of having biden talk about fighting inflation and the DJ drops 1300 points. But he keeps saying how good things are over and over and they hope enough silly people will start to believe. This not trump any longer. Link to comment Share on other sites More sharing options...
placeholder Posted September 17, 2022 Share Posted September 17, 2022 9 minutes ago, EVENKEEL said: This is about what's happening now. The irony of having biden talk about fighting inflation and the DJ drops 1300 points. But he keeps saying how good things are over and over and they hope enough silly people will start to believe. This not trump any longer. Payrolls increased 528,000 in July, much better than expected in a sign of strength for jobs market https://www.cnbc.com/2022/08/05/jobs-report-july-2022-528000.html US Employers Add 315,000 Jobs as More Workers Join Labor Force https://www.bloomberg.com/news/articles/2022-09-02/us-adds-315-000-jobs-as-participation-jumps-and-wages-rise https://tradingeconomics.com/united-states/job-offers Link to comment Share on other sites More sharing options...
EVENKEEL Posted September 17, 2022 Share Posted September 17, 2022 9 minutes ago, placeholder said: Payrolls increased 528,000 in July, much better than expected in a sign of strength for jobs market https://www.cnbc.com/2022/08/05/jobs-report-july-2022-528000.html US Employers Add 315,000 Jobs as More Workers Join Labor Force https://www.bloomberg.com/news/articles/2022-09-02/us-adds-315-000-jobs-as-participation-jumps-and-wages-rise https://tradingeconomics.com/united-states/job-offers The drop effects millions of retired folk like myself. I understand folks with nothing at stake can post graphs showing how grand things are. Link to comment Share on other sites More sharing options...
Eric Loh Posted September 17, 2022 Share Posted September 17, 2022 53 minutes ago, EVENKEEL said: This is about what's happening now. The irony of having biden talk about fighting inflation and the DJ drops 1300 points. But he keeps saying how good things are over and over and they hope enough silly people will start to believe. This not trump any longer. Not an irony but just economic reality. Stocks tend to be more volatile when inflation is elevated. External factors impacted inflation not only in US. FED make decision independently to rise rate and fallouts like falling demand and higher corporate debts servicing will dampen stock. Biden’s has done good things as #placeholder posted. I also credit Biden for managing the covid-19 pandemic well and also the supply disruption which elevated prices of some items. Bills like the China Competition and Infrastructure Bills will benefit the economy. Really not much to complain about the economy in this tough transitional period coming out of the pandemic and the Ukraine war. Link to comment Share on other sites More sharing options...
EVENKEEL Posted September 17, 2022 Share Posted September 17, 2022 14 minutes ago, Eric Loh said: Not an irony but just economic reality. Stocks tend to be more volatile when inflation is elevated. External factors impacted inflation not only in US. FED make decision independently to rise rate and fallouts like falling demand and higher corporate debts servicing will dampen stock. Biden’s has done good things as #placeholder posted. I also credit Biden for managing the covid-19 pandemic well and also the supply disruption which elevated prices of some items. Bills like the China Competition and Infrastructure Bills will benefit the economy. Really not much to complain about the economy in this tough transitional period coming out of the pandemic and the Ukraine war. So, how's your retirement fund looking? Link to comment Share on other sites More sharing options...
Eric Loh Posted September 17, 2022 Share Posted September 17, 2022 7 minutes ago, EVENKEEL said: So, how's your retirement fund looking? In the last 25 years, general inflation - overall increase cost of living- has increased 75%. I just have to made adjustments and some sacrifices as the value of the funds go down. Give that a try. Complaining about it will not help. Link to comment Share on other sites More sharing options...
placeholder Posted September 17, 2022 Share Posted September 17, 2022 59 minutes ago, EVENKEEL said: The drop effects millions of retired folk like myself. I understand folks with nothing at stake can post graphs showing how grand things are. I've seen this same line of <deleted>. before. First off, unless your career began in Feb of 2021, you should still be way ahead of where you were just a few years ago. https://www.google.com/search?q=s%26P+average+historical&oq=s%26P+average+historical&aqs=chrome..69i57.23872j0j4&sourceid=chrome&ie=UTF-8 Also, does this drop stop companies from paying dividends? It may lower dividends in many cases because lots of corporations spend large amounts of their earnings on stock buybacks. Until the Reagan administration came along, this was illegal for obvious reasons. So what you lose in dividends you might gain in stock prices. Anyway, your grounds for complaint are clearly dubious. And far more Americans are affected by the state of the job market than by the state of the stock market. Link to comment Share on other sites More sharing options...
EVENKEEL Posted September 17, 2022 Share Posted September 17, 2022 9 minutes ago, Eric Loh said: In the last 25 years, general inflation - overall increase cost of living- has increased 75%. I just have to made adjustments and some sacrifices as the value of the funds go down. Give that a try. Complaining about it will not help. I'm glad you're happy with your funds taking a dive, I'm not. But that doesn't stop biden from posing rosy news. Nothing to see here folks. We're going to spend our way out of this one. Link to comment Share on other sites More sharing options...
placeholder Posted September 17, 2022 Share Posted September 17, 2022 3 minutes ago, EVENKEEL said: I'm glad you're happy with your funds taking a dive, I'm not. But that doesn't stop biden from posing rosy news. Nothing to see here folks. We're going to spend our way out of this one. Anybody who believes that the stock market won't experience steep drops from time to time probably should invest instead in....well there really aren't many investments that aren't subject to steep drops on occasion. And of course, Biden was celebrating the Anti-Inflation Act which is about a lot more than inflation. And the anti-inflationary aspects of the law won't kick in immediately. That's up to the federal reserve. And thanks to a few DINO's anti-inflationary tax hikes on the super wealthy were scotched. Link to comment Share on other sites More sharing options...
Eric Loh Posted September 17, 2022 Share Posted September 17, 2022 19 minutes ago, EVENKEEL said: I'm glad you're happy with your funds taking a dive, I'm not. But that doesn't stop biden from posing rosy news. Nothing to see here folks. We're going to spend our way out of this one. Are you suggesting that Biden’s Rescue Package Plan caused inflation!? And there will be no inflation if there is no RPP? The post Covid-19 inflation is more complicated that just spending. Labour market changes, rising energy and commodity prices, supply chain dysfunction and Ukraine war have contributed to inflation. Is your mind all made up to blame Biden? If so, no point for me to explain simple things that everyone is aware. 1 Link to comment Share on other sites More sharing options...
EVENKEEL Posted September 17, 2022 Share Posted September 17, 2022 4 hours ago, Eric Loh said: Are you suggesting that Biden’s Rescue Package Plan caused inflation!? And there will be no inflation if there is no RPP? The post Covid-19 inflation is more complicated that just spending. Labour market changes, rising energy and commodity prices, supply chain dysfunction and Ukraine war have contributed to inflation. Is your mind all made up to blame Biden? If so, no point for me to explain simple things that everyone is aware. Biden's the president, he owns all good and bad. End of story. Link to comment Share on other sites More sharing options...
placeholder Posted September 17, 2022 Share Posted September 17, 2022 2 hours ago, EVENKEEL said: Biden's the president, he owns all good and bad. End of story. Because he's not just the President, he's also God? Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now