“U.S. stocks fell sharply in volatile trading Monday, extending a steep sell-off from the previous session,” Fred Imbert reports for CNBC. “The Dow Jones industrial average shed more than 800 points and briefly declined nearly 1,600 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.”
“The S&P 500 pulled back 3 percent to break below 2,700. The broad index had traded positive earlier on Monday as the tech sector briefly rose,” Imbert reports. “The S&P 500 also traded down more than 5 percent from an all-time high set last month and broke below its 50-day moving average, a key technical level.”
“The Nasdaq composite declined 2.4 percent after rising as much as 0.5 percent. Earlier gains in Apple and Amazon helped the tech-heavy index trade off its lows,” Imbert reports. “Stocks were pressured by a fast rise in interest rates last week. The benchmark 10-year yield rose to its highest levels in four years. Overnight, it reached 2.88 percent before trading around 2.75 percent. The major indexes also capped off their worst weekly performance in two years on Friday. The Dow and S&P 500 pulled back 4.1 percent and 3.9 percent, respectively, last week. The Nasdaq lost 3.53 percent.”
Read more in the full article here.
MacDailyNews Take: Sometimes you have to go lower in order to go higher.
SEE ALSO:
Apple hits correction territory, closing down more than 10.5% from its January 18th record high – February 2, 2018
Dow plunges more than 600 points; Apple shares fall – February 2, 2018
Apple breaks record for biggest ever company profit – February 2, 2018
So much for worries over Apple’s iPhone X – February 1, 2018
MacDailyNews presents live notes from Apple’s Q118 conference call – February 1, 2018
Apple smashes Street with biggest quarter in company history – February 1, 2018
Close was -1,179.24 on the Dow or 4.62% loss. After the 500 point drop Friday this is a 6% shedding in two days. Hopefully this isn’t a larger trend.
If only the treasonous Dems had applauded at the SOTU address! And if only the Dems got Trump’s message on “unity”! And if only the civilized portion of the country agreed that the Devin Nunes memo (“meh”mo) wast “Watergate on steroids”.
Then maybe no one would have realized what idiots we have running the country.
Basically if the market drops another 800 points and then stops, it’s a normal correction. We’d be in th 10% territory. But if it keeps going? Then we get into bear territory, and if it drops another 10% we get into panic mode but still not sell off territory. If it goes down below 20,000 then we may be in for a crash landing like in 2007-2008 when it went down from 16-8000. Hopefully that doesn’t happen again.
Hey MDN , why did you delete my rebuttal thread to Bottys nonsense? I did I use some colourful language, but it was warranted. If you’d like to redact the language, that’s fine, but my information was completely accurate….
Apologies, I responded to the wrong thread. Please excuse my stupidity.
This is the begining of the Bubble collapse Stocks, Auto loans, Bonds, Housing will all collapse.
One example being Deutche Bank which is broke and has $35 trillions dollars in derivatives exposure. Watch out when this collapses as it will make Lehman Brothers collapse look tiny in comparison. It will take 30 Banks with it as Banks loan money to each other
Dow is still some 5000 pts higher than when Trump took office….
personally, I don’t care if the Dow drops to zero, NOTHING is going to deflect from the prosecution of the Obama administration turning our government into a police state.
Democrats are the new Stasi.
WTF are you saying? You want to make ‘merikka “great again” but you would happily drive the economy into the ground to spite a former president?????? You are sick.
You can thank Wolfowitz, Cheney, and the neocon idiots for the Patriot Act and the era of endless war. Your party, dumbass. A decade of republican congressional control and you fools can’t even come up with a long term budget, let alone spending reductions. When Donny Drumph drives the debt through the roof, we all know where out tax dollars will be spent in the future.
You dolt, you STILL don’t understand what the election of 2016 was about….there’s no difference between Bush, Bubba or The Muslim Usurper…Trump’s election was and is about American sovereignty vs global governance.
wake the hell up.
Ahaha…sovereignty! And the slow drip drip, ticking timebomb botty transformation into full blown Sovereign Citizen LaLaland continues. Or is it just loose mouthed nonsense from a toothless crank?
Either way, you and your militia are heading for a watch list. Enjoy the suspense.
You’re sure gonna miss that Bill of Rights when it’s gone, imbecile.
Ah, so are you willing to admit that crook trump = liar is try to destroy America. Are you back on your meds? I do feel so silly replying to a russian bot. treason is on the public table thanks to trump = liar.
He is a traitor. Look at how hard he is fighting this investigation. Why? Mueller could come back with, “donald trump has done nothing that requires any further action”. Here’s the thing trump = liar knows he colluded, and that, that in itself should be enough to LOCK HIM UP. BUT, HE’S GOT MORE DIRT ON HIS HANDS, AND THAT’S WHAT HE IS WORRIED ABOUT!
You think Trump gives a damn about the Bill of Rights?!?!?
Every step he has taken, from his attempt at demonizing the press, to trying to eliminate those who he perceives are his enemies and replacing them (over and over) with who he thinks will be loyal to him, is exactly what dictators do in other countries when they rise to power.
Don’t feed the bot troll. His appetite is insatiable
That “dolt” is pathetic Citizen X in hiding and his NEW INSULTING STRATEGY to change his screen name on EVERY POST.
Just look above to the second post as well as the one you responded to …
botty, you crowed about the stock market going up even after begin reminded that it was a long term trend. You crowed about the “tax reform” on more borrowed money even after being reminded that it was unwise stimulus on borrowed money when employment was already near historical lows and trending down when Trump took office. You even ignored the assertions that interest rates would rise more quickly as a result, which would impact the economy and drive up the cost of debt service on our $20+T national debt, thus increasing the deficit on top of the additional borrowing.
All of this you ignored or disputed. Now, you fall back on the “Dow is still some 5000 points higher than when Trump took office,” as if that is some type of vindication of his asinine behavior and appointments and policies (if he has any policy other than “Trump First”).
I find it both amusing and annoying that Trump will use a rising stock market as proof of his success, but falls silent when the tides turn. Tweeting silence… At least a falling stock market is good for one thing. Two things, actually, because the economy is about the only good thing that Trump had going for him (and he inherited that, just like his silver spoon).
STILL 5000+ points above The Muslim Usurper.
I hope we don’t find out that Obama was more powerful than we thought. Even out of office, you know he’s been working with shady types and financial ne’er-do-wells to destroy America financially. If the stocks keep going down, you’ve got Obama to thank!
What goes down will go back up.
@ It is funny, though…I don’t hear Trump bragging about the stock market now…You may eat those words. We’ll be here to ask you how they taste.
Citizen ZERO again …
For further proof look at the number of up votes for undercover Citizen X and your down down votes — polar opposites. He is too easy to spot …
Please stop posting here, Russian bot. No one wants to hear this nonsense anymore. We’re on to your game. #GoUSA!
You made two critical mistakes.
1) Never tell someone they cannot express their First Amendment rights.
2) Never speak for anyone here.
Got it, good …
Take your own good advice, and I’d be more of an admirer.
You posted on Jan. 25:
“GoeB, did you mindlessly attack me about my comment about rocket launchers?”
I wrote two replies to explain the misunderstanding and they both posted on MDN last time I checked. I did not hear from you until today.
I was responding to someone else, certainly not attacking you …
“Never speak for anyone here”
ROTFLOL!!
Oh thanks for that gut ache moment, it was a doozy from the dunce in the perpetual #desert_of_denial.
Pure gold from a one-eyed snake oil cave dweller.
Got it? Absolutely!…I shall quote you to your face forever…you can rely on it.
“Never speak for anyone here”
ROTFLOL!!
Oh thanks for that gut ache moment, it was a doozy from the dunce in the perpetual #desert_of_denial.”
When you get off the floor and probably not quickly run out of insults, show me where I speak for anyone here.
Obviously you are confused about the nuances in debate exchanges and don’t understand the difference of speaking for someone and trying to interpret and understand where they are coming from.
“Pure gold from a one-eyed snake oil cave dweller.
Got it? Absolutely!…”
I don’t have one eye, FAKE INSULT.
“I shall quote you to your face forever…you can rely on it.”
No thanks, I don’t want to see your sorry face. But I’m waiting with baited breath for your quotes …
“Obama administration turning our government into a police state”
Trump has turned ICE into the brown shirts targeting Latinos denying due process of law even arresting those protected under DACA.
It is the GOP Mayors, governors and state legislators passing laws using the police to detains people illegally while they waiting for ICE.
Freedom*, Liberty* and Justice* are not spelled with an asterisk *
Press One for English.
Press Two for ICE.
Cons, Obama polices were working. Now, The Tramp only policy (tax cuts) will derail us back into a recession.
Make American GoBack Again!
Make American Go Backwards Again!
Look at history: the Dow always takes a huge hit whenever the Fed chairman changes.
Sorry, MikeMo, but that “answer” is just too simplistic and easy. There are fundamental issues, and Trump and the GOP managed to stir things up and create investment angst in the past couple of months.
Sorry, but I wasn’t making a political statement at all, hadn’t read the political statements above before I posted, wasn’t trying to form an “answer”. I was making a factual observation.
Not everything is about Trump.
Not according to Trump. Everything is about him. If it’s good, it’s to his credit. If it’s bad, it was Obama’s fault. Typical of men hungry for power, secretly possessing low self-esteem, and overcompensating (according to Freud). True, Trump may not be typical at all. He could be delusional, or he could be a strong individualist impressing his style on American politics. In any conceivable case he is a remarkable man, answerable to no higher authority than his own ego. I can’t say that’s a bad thing in itself, because every man I’ve ever known was ego-driven. Even Trump’s crudeness and rudeness are not deal-breakers. What matters more is public policy issuing from his administration.
your chronic misandry has become tedious.
Sadly, after remembering numerous posts discussing men, I have to agree …
NYSE Index 12,572.93 ⬇︎512.42 (3.92%)
Russell 3000 Index 1,564.66 ⬇︎64.90 (3.98%)
NASDAQ Composite Index 6,967.53 ⬇︎273.42 (3.78%)
There’s a Bear in the Woods:
He might be coming to Wall Street.
Trump needs to learn to shut up and focus on the job at hand. He invited this “drop”. Anybody who has watched sports knows you don’t celebrate until the game is over.
A correction is 10% or more. Today was about 4% by itself after a 666 point Dow drop Friday.
Margin calls have to be covered or the stocks get dumped.
Stay tuned.
Market Cycle
I see.. Apple is overpriced At Ttm pe of 16 , forward pe of 12…. 280 billion cash…1.3 billion unique user base, most valubale brand status, customer satisfaction of %90+, a record smashing quarter ( 20+% growth for a company that size )
Yup Apple is overpriced …
Go ahead loot your own neighborhood Dav.
How deluded and biased can u be..
Have u even read some articles on whats going on…
thanks, Trump
Pathetic hiding coward Citizen X …
Don’t be so paranoid.
I can’t believe how STUPID you are pathetic coward Citizen X. Thanks for VALIDATING my point. Run away now …
Who is this Citizen X you are shadow boxing? You might want to seek professional help for your continued paranoid delusions.
Every time you post it’s more proof of your tenuous grasp of reality. You never use evidence to substantiate your opinions or wild accusations. It would be amusing if not for the fact that you think you know what you’re talking about.
Not interested in your opinion regarding my state of mind and please bag the personal attacks.
Yes, it is my opinion and since I don’t work for the NSA computer survelliance division, no way to prove it.
Suffice it so say my sensory and perception skills, according to my Meyers-Briggs ISTP rating I rely on, are correct more times than not …
Do not worry Democrats, socialists, Bolsheviks, Marxists, collectivists of all sorts and kinds. Something stupid will happen and you will be able to spread your absurdity, hypocrisy, fear, and hatred once again with the pure multi-orgasmic joy that was brought to you by the Obama Administration.
You will find a way, I promise, to turn the country back to identity politics, anti-business rhetoric, class envy, gender-based nonsense, abortion celebration, race-baiting, immigration lawlessness, geopolitical ass kissing and the love of a freedom squashing, wealth confiscating, soul oppressing big government.
Once again mediocrity will be the standard of the day, and the perverts and idiots of the entertainment industry will serve as the intelligentsia of the nation,
You won’t have long to wait. Why whine?
Theres’s nothing that will tear down what Trump has built. All the right operators are in place and just waiting for November 🙂
My prediction, polls will claim a Democrat wave and we’ll wake with MORE seats in the (R) column, proving another political “fact” false.
Great roundup of their pathetic strategy that has held America BACK for eight years, and for what?
That’s easy, Democrats DRUNK on POWER.
Not going to happen, TMac …
8 years of republican congress. Lowest rated congresses in history. Extremely large number of republican retirements. Ineffective executive with lowest rating in modern times, with no stated goals for the nation and absolutely nobody on the team to accomplish anything forward looking at all. All going up against the feckless democrats, who have nothing but 8 steady years of growth to show for their focus on domestic improvements over unfettered corporate greed. Those who refuse to study history obviously have no idea how 1880’s style economics that Trumpians keep pushing resulted in the most disgusting divides between the gilded few corrupt industrialists and the enormous growing slums of filth and misery. It happened before and can happen again.
I guess we see it MUCH differently …
What no one had before, and what is CLEARLY in play now, is control of the entire electoral process. Liberals don’t even vote in midterm elections. And, for the few that do vote, their votes can easily be rendered invalid (or, we just prevent them from being able to vote in the first place). The economy doesn’t matter, the poll numbers don’t matter. All that matters is that you have friends that can poke the right holes in the electoral system at the right places and secure a win.
Conservatives have more guns than liberals. You can’t “rise up” without a bullet 🙂