CNBC Update: Dow Jones tanks 1,000 points

[speak easy]

US Stock Market LIVE: Dow Jones tanks 1,000 points as sell-off intensifies over Trump-Powell tensions

US Stock Market LIVE: US stocks selloff deepened Monday (April 21) after President Donald Trump stepped up his haranguing of Jerome Powell on social media. The president’s threats to remove the Federal Reserve chair have also been weighing on longer-dated Treasuries and the dollar. The S&P 500 sank 1.9% and the dollar index weakened to a 15-month low as Wall Street reopened after the long holiday weekend. Long bonds fell, pushing the 10-year yield close to 4.4%. While investors turned away from American securities, haven assets climbed. Gold jumped to another record, above $3,400 an ounce, while the Swiss franc led a rally in other Group-of-10 currencies.

The US president took to Truth Social, escalating his attack on the Fed chair, insisting there was “virtually” no inflation and it was time for “preemptive cuts.”

https://www.cnbctv18.com/market/us-stock-market-live-updates-wall-street-dow-jones-snp-500-nasdaq-trump-tariffs-powell-economy-gold-dollar-liveblog-19591444.htm

[dweller]

1. Keep yammering Pisswig

Maybe you can drive it down 2,000
😐



✌🏻

[gab13by13]

4. That's exactly what will happen if he fucks with Powell.

He must be shitting his pants (again) he found someone who will not fluff him and if he fires him it will be worse.

[dalton99a]

2. Captain Trump: "Dive! Dive!"

[Johnny2X2X]

3. The media

Know this, if this were under Biden, the media would be freaking out and screaming that the President address the nation to ease fears.

[NEOH]

6. Fixed it for you!

The media pressitutes…

[gab13by13]

7. What would Krasnov say in an address to the nation?

I'm guessing he would try to blame everything on Powell, Biden? Pelosi? Schiff? Garcia?

[Greg_In_SF]

8. It did happen

under Biden as well. The Dow dropped almost 7000 points in 2022.

[stillcool]

11. and in 2008, which I think was worse...

John McCain cancelled campaigning so he could return to D.C. to watch the ticker.

Explainer: Why the U.S. stock market is tumbling in 2022
By Lewis Krauskopf
May 11, 20222:51 AM EDTUpdated 3 years ago

WHY HAS THE FED PIVOT HURT STOCKS?
The Fed in March raised interest rates for the first time since 2018, boosting by 25 basis points. Earlier this month, the central bank raised rates by another 50 basis points - the biggest move in 22 years - and Fed Chair Jerome Powell signaled similar increases could follow as it also starts unwinding assets accumulated during its fight against the pandemic's effects.

WHAT ELSE COULD BE CONTRIBUTING TO STOCK WEAKNESS?
Beyond the Fed's change, Russia's war in Ukraine has fueled further economic uncertainty. For example, the turmoil has caused a supply shock that has helped drive up oil and other commodity prices, while also triggering particular concerns about Europe's economy.

[Midnight Writer]

5. I'm losing money hands over fist in this market, yet it gives me hope.

I guess this is a classic case of rooting against my own interests, or perhaps Trump Derangement Syndrome.

But I am convinced the only way to save our democracy is for this fool to totally tank the economy.

That will bring out the real guns, the people in this country with power (that is, money) to step on this mongrel's tail and stop his shenanigans.

It's a sad situation when my hope for the future is for one set of monsters to eat the other set of monsters while my retirement savings dwindle day by day, but this is where we are at in this country.

[gab13by13]

9. The 1% always survive a recession,

Small businesses will not.

[Kaleva]

10. I went back to work part time when Biden was still in office

It was too hard trying to get by on SS alone

I've accepted the fact I'll be working right to the end.

[dem4decades]

12. He's Captain Smith, full speed ahead.

[hedda_foil]

13. Stats now: all down over 3%

S&P 500
‎5,116.46
‎-3.15%
DOW
‎37,922.72
‎-3.12%
S&P 100
‎2,465.32
‎-3.10%
Nasdaq 100
‎17,615.37
‎-3.52%