Dow plummets 666 points, capping worst week in 2 years

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sanfordandson
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Dow plummets 666 points, capping worst week in 2 years

Post by sanfordandson » Fri Feb 02, 2018 7:03 pm

https://www.cnbc.com/2018/02/02/us-futu ... ields.html


U.S. stocks fell sharply on Friday after a stronger-than-expected jobs report sent interest rates higher.

The Dow Jones industrial average dropped 665.75 points to close at 25,520.96, capping off the index's sixth-largest points decline ever. The 30-stock index also fell below 26,000. Friday also marked the first time since June 2016 that the Dow fell at least 500 points.

The S&P 500 fell 2.1 percent and finished at 2,762.13, with energy as the worst-performing sector. The Nasdaq composite plunged 1.96 percent to 7,240.95 as a decline in Apple and Alphabet offset a strong gain in Amazon shares.

The Dow posted its worst day since June 2016. The S&P 500 and Nasdaq had their biggest one-day fall since September 2016 and August 2017, respectively.

"The key for the market today is rising interest rates," said Mike Baele, managing director at U.S. Bank Wealth Management. "The old adage is: 'Bull markets don't die of old age, they are killed by higher interest rates.' That looms large."

The U.S. economy added 200,000 jobs in January, according to the Bureau of Labor Statistics. Economists polled by Reuters expected growth of 180,000. Wages, meanwhile, rose 2.9 percent on an annualized basis.

The report sent interest rates higher. The benchmark 10-year yield rose to 2.85 percent on the back of the report, hitting a four-year high. Investors have been jittery about the recent rise in interest rates, worrying they may be rising too fast.

On Friday, the 30-year yield rose its highest level since March.

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Re: Dow plummets 666 points, capping worst week in 2 years

Post by exhaustgases » Fri Feb 02, 2018 8:13 pm

Cool gotta love that 666 number. You can now praise your god,sandy.
Last edited by exhaustgases on Fri Feb 02, 2018 8:17 pm, edited 1 time in total.

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Re: Dow plummets 666 points, capping worst week in 2 years

Post by lefty o » Fri Feb 02, 2018 8:16 pm

and its still 25% higher than any time under obammas reign of terror!

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Re: Dow plummets 666 points, capping worst week in 2 years

Post by sanfordandson » Fri Feb 02, 2018 9:59 pm

lefty o wrote:
Fri Feb 02, 2018 8:16 pm
and its still 25% higher than any time under obammas reign of terror!
What a reign of terror it was!

Image

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Re: Dow plummets 666 points, capping worst week in 2 years

Post by exhaustgases » Fri Feb 02, 2018 10:01 pm

I think he is talking about all the anti gun programs they did then. Fast furious etc. etc.

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Re: Dow plummets 666 points, capping worst week in 2 years

Post by sanfordandson » Fri Feb 02, 2018 10:14 pm

exhaustgases wrote:
Fri Feb 02, 2018 10:01 pm
I think he is talking about all the anti gun programs they did then. Fast furious etc. etc.
Yea why not..after all this thread is all about stocks. =D> #-o

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Re: Dow plummets 666 points, capping worst week in 2 years

Post by j-c-c » Fri Feb 02, 2018 10:30 pm

Who cares?

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Re: Dow plummets 666 points, capping worst week in 2 years

Post by Firedome8 » Sat Feb 03, 2018 8:37 am

lefty o wrote:
Fri Feb 02, 2018 8:16 pm
and its still 25% higher than any time under obammas reign of terror!
[/quote

True but your thinking of bush and his war crimes.

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Re: Dow plummets 666 points, capping worst week in 2 years

Post by RevTheory » Sat Feb 03, 2018 9:02 am

This correction was long overdue. If we follow sandy's "logic" shouldn't this be ohdummy's crash anyways?

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Re: Dow plummets 666 points, capping worst week in 2 years

Post by sanfordandson » Sat Feb 03, 2018 9:07 am

RevTheory wrote:
Sat Feb 03, 2018 9:02 am
This correction was long overdue.
trumps sheep with excuses right on cue! =D>

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Re: Dow plummets 666 points, capping worst week in 2 years

Post by RevTheory » Sat Feb 03, 2018 9:11 am

It was due for a normal correction before Trump took office and I was shocked when it didn't correct at 25,000. But I know you're just a troll so it really doesn't matter if you're capable of understanding beyond your little troll threads or not.

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Re: Dow plummets 666 points, capping worst week in 2 years

Post by lefty o » Sat Feb 03, 2018 10:03 am

Firedome8 wrote:
Sat Feb 03, 2018 8:37 am
lefty o wrote:
Fri Feb 02, 2018 8:16 pm
and its still 25% higher than any time under obammas reign of terror!
[/quote

True but your thinking of bush and his war crimes.
dont try and tell me what im thinking about!

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Re: Dow plummets 666 points, capping worst week in 2 years

Post by sanfordandson » Sat Feb 03, 2018 10:16 am

RevTheory wrote:
Sat Feb 03, 2018 9:11 am
It was due for a normal correction before Trump took office and I was shocked when it didn't correct at 25,000. But I know you're just a troll so it really doesn't matter if you're capable of understanding beyond your little troll threads or not.
Wow you tune has sure changed in a matter of days. Quite the 180 just to support your messiah! =D>

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Re: Dow plummets 666 points, capping worst week in 2 years

Post by RevTheory » Sat Feb 03, 2018 10:22 am

You're such a troll. Go try to learn something.

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Re: Dow plummets 666 points, capping worst week in 2 years

Post by sanfordandson » Sat Feb 03, 2018 10:24 am

RevTheory wrote:
Sat Feb 03, 2018 10:22 am
You're such a troll. Go try to learn something.
Oh wow that was a real zinger! You must have put something extra special in your coffee this morning! :lol:

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