This stock market falling today is so obvious that Wall Street realizes Harris is ahead and they were counting

[kimbutgar]

On the Corporate Tax cutter loser convicted felon to win.

I worked in the stock market industry from 1978 to 2013. And I can tell you even then repukes controlled the markets and are freaking out now that they are not going to get their way having unregulated markets. They want those crypto and bitcoin markets to rip off people and make money off them.

I would bet the orange maggot is rooting for the market to drop and the start of a recession so he can run on it the last 90 days.

[Ocelot II]

1. More likely a correction of overvalued tech/AI stocks.

Long overdue, probably.

[jimfields33]

5. It's actually because of Japan and other world markets.

So silly to say politics is playing into this unless you think Japan is tanking their economy to help a presidential election.

[Ocelot II]

8. True, it's not politics; it's bigger than that.

Certainly the Asian markets but overvalued tech stocks are part of it.

[haele]

11. UK's economy is also in the tank.

China and Russia aren't doing too well either.
Not to mention we were due for a tech stock correction.
One would think companies spent all last year ramping up AI analysis to run Wall Street more "efficiently" than human financial analyst and it wasn't really as efficient as they thought it would be.

Wall Street is like a casino, after all. One never knows what the future of their investment is going to be, or even if it will come to fruition.

Unless they cheat the system.

Haele

[WarGamer]

13. people don't pay attention to financial news.

1) Jobs Report.

2) Interest Rates

3) Imminent war in the Middle East

4) Global markets

[Ocelot II]

14. They do if they have 401Ks, pensions or other investments.

[WarGamer]

20. even most people who do... are clueless.

I have 2/3 of those and am a daily trader...

I know exactly what's up and it's not cyclical.

Interest rates too high too long, imminent war and Global markets.

The fact that the market was overextended just makes the issue worse.

[spooky3]

29. I'm not an economist but I think you're right

about these factors.

I also think the market often overreacts to bad news and that it will come back fairly soon.

[LetMyPeopleVote]

2. Largest daily point drops in DOW history:

Link to tweet

2020-03-16 −2,997.10 TRUMP
2020-03-12 −2,352.06 TRUMP
2020-03-09 −2,013.76 TRUMP
2020-06-11 -1,861.82 TRUMP
2020-03-11 −1,464.94 TRUMP
2020-03-18 −1,338.46 TRUMP
2020-02-27 −1,190.95 TRUMP
2018-02-05 −1,175.21 TRUMP
2018-02-08 −1,032.89 TRUMP
2020-02-24 −1,031.61 TRUMP
2020-04-01 −973.65 TRUMP
2020-03-05 −969.58 TRUMP
2020-03-27 −915.39 TRUMP
2020-02-25 −879.44 TRUMP
2020-02-25 −879.44 TRUMP
2018-10-10 −831.83 TRUMP
2019-08-14 −800.49 TRUMP
2018-12-04 −799.36 TRUMP
2020-03-03 -785.91 TRUMP

At least Trump is #1 at something.

[kimbutgar]

4. Wow today looks tame by those past days under the convicted felon

Sadly his magaloons will never see or hear about the drops under the convicted felon reign of terror.

[jimfields33]

7. And guess what? He lost!!!!!

[WarGamer]

21. COVID was a crazy time to be trading... I'll never forget.

Like shooting fish in a barrel just buy puts in the morning and stack cash by lunch

[A HERETIC I AM]

25. Where are those in a percentage basis?

For the record, what I am about to say is in NO WAY a defense of Trumpy and his complete lack of financial acumen.

I was a stock broker from September, 2006 to July of '09 which pretty much encompassed the worst months of the Great Recession. The market peaked about a year after I got my Series 7 and bottomed out about 6 weeks after Obama said "So Help Me God" on the west side of the Capital.

There were many, many days of wild selloffs and massive swings in the market, one day where it fell over 1000 points at the open but by the closing bell had finished up 100 points, so there was in excess of a 2100 point swing in the 6 and a half hours of trading. I had a trading platform on my desktop covering two screens that would show trade settlements and second by second valuations of any exchange and any security you had a CUSIP for. I recall numerous days where the final valuation for the DJIA was not completely settled until 4:45 PM, three quarters of an hour after the closing bell because the volume was so unbelievably high.


I remember one specific day where I got a notification that pre-market trading was suspended because the market was "limit down", meaning the trading volume was so high and the futures were in such a selloff that the New York Stock Exchange basically told everyone to knock it off. I worked with my older brother, a veteran of over 25 years in the business at that point who had been on a floor when the 1987 panic happened. When he came in the office about 9 AM I asked him if he had heard what was going on. He said "No, what?"

"The market is limit down" I said.


"Holy shit" was all he said as he walked to his office.



Nothing anywhere close to that happened during Trumpy's administration and today will be a minor blip in the stock markets long upward climb.

[Self Esteem]

28. Percentage is a much more reasonable way to measure.

The dow was at like 10,000 when Clinton left office. A 1,000 point drop would have been catastrophic. Of course as the dow is now above 30,000, a bigger drop is to be expected.

FWIW, the biggest percentage drop happened in 1987 at 22.61%

Out of the 20 largest percentage drops, Trump has one: March, 2020 at 7.79.

We're nowhere near that with today's numbers but also, Trump isn't the holder of all the top drops if you go by percentage.

[A HERETIC I AM]

32. Yup. Thanks for that.

[Scrivener7]

30. THAT is a great post.

[Mme. Defarge]

3. As I was wondering. . .

[Voltaire2]

6. More like a demand that the fed cut rates.

And also as others have mentioned, no visible revenue from the massive ai investment by assorted huge tech companies.

[PeaceWave]

9. My personal take is that the Fed has become as politicized as has the SCOTUS.

[crazylikafox]

10. I agree that's a major contributor to today's drop

[Metaphorical]

12. AI Tech overvalued, Japan raising interest rates (and the big stock market selloff there), and yes, a Kamala win

Trump really gains nothing by the markets going down - he loses money on TS (which is fast entering penny stock territory) and other investments, he doesn't want to draw attention to Harris' momentum, and HE appointed Powell in the first place. It won't stop him from ranting about the markets, but it hurts Trump more than it does Kamala.

[kelly1mm]

18. While TS is getting hammered and is down almost 2/3 since its 52 week high, with a stock price in the mid-high $20s it

is nowhere near penny stock levels. It still has a market cap of over $5 Billion the President Trump's share in the high 2B range. And that is with almost no cash investment from him ..... pretty sweet con, errr gig if you can get it!

[ProfessorGAC]

22. Agree With Most Of You Post

But, penny stock territory? It's well over $26 right now.
Sure, that's less than half of what it was 3 months ago, but I can't agree that 26&1/2 bucks is a penny stock.
https://www.cnbc.com/quotes/DJT

[ImNotGod]

15. it always fascinates me that people invested in markets always freak out when there is a correction,

its amateur hour, they shouldn't even be invested if they don't understand what goes up must come down, especially when an obvious bubble has formed.

[kimbutgar]

16. Exactly I have a few investments in stock funds and haven't sold them in years and I still am in positive territory and

Haven’t lost money.

[Thunderbeast]

17. Speculators chasing an AI bubble

The S&P 500 has had most of it's gains from the "Magnificent Seven" securities that are far outperforming the market based on expectations of future growth rather than current operating profits.

We should not be surprised that the equity market is correcting. Bond holders will benefit as demand soars for fixed securities and interest rates fall.

Yet another lesson on managing assets with a balanced portfolio.

[GoCubsGo]

33. Also a whole lot of technobros selling off stocks to recoup

their their cash supply, after losing their asses when Bitcoin crashed last week.

[liberalmediaaddict]

19. It's the low jobs report

And the federal reserve didn't lower interest rates.

That's all it takes to spook the market. They get a wiff of a possible economic downturn and freakout.

That's why most Presidents don't run on the success of
the stock market. It can change overnight

Trump found that out in 2020.

The concerning thing is that Trump is celebrating this development and rooting for a
recession. Who knows what he'll do behind the scenes to wreck the economy before the election.

[C_U_L8R]

23. Democrats bring prosperity

And we've proven that over and over again.

If Republicans had any brains, they vote Democratic too.

[DFab420]

24. It's a ACTUALLY just a reaction to the Japanese yen strengthening

That’s all. It’s a correction well overdue from the Japanese stock market that is rippling through the global trade markets.

That’s literally it.

[Initech]

26. Yeah because 40 years of Wall St stealing all our money worked so well didn't it?

[TheProle]

27. This is your best analysis after 35y in the industry?

[kimbutgar]

31. Things are happening so fast these days and the stock market is so easily manipulated

I saw it begin in the 90’s when Clinton got rid of the Glass Siegel act. Which caused more volatility and events happening today. As I said, I quit that industry 11 years ago. The people I know who are still involved said it’s crazier now. Even back then also the majority of the people working in the industry were repukes like today and they are nervous Nellie’s!

[emulatorloo]

34. No I don't think so.

[spooky3]

35. It really makes more sense to focus on multi-day trends

Rather than one day drops/increases.