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James48

(4,416 posts)
Wed Oct 10, 2018, 02:29 PM Oct 2018

Dow drops more than 500 points

Source: Yahoo news


Stocks slumped Wednesday while Treasury yields continued to rise.

Yields on the 10-year Treasury note climbed to 3.214%, while the 30-year yield edged higher to 3.382%. The higher yields put downward pressure on stocks, with the S&P 500 posting decreases for its fifth straight day.

The S&P 500 (^GSPC) fell 1.98%, or 56.48 points at 2:10 p.m. ET. The Dow (^DJI) fell 1.96%, or 513.93 points. The Nasdaq (^IXIC) slipped 2.37%, or 180.1 points.




Read more: https://finance.yahoo.com/news/dow-drops-200-points-treasury-yields-move-higher-141746422.html



Ladies and gentlemen, stock market getting hammered today, now that tariffs are starting to kick in, and companies and individuals are getting hit hard with new Trump Tariff Taxes. (TTT)

this is what is known as

the beginning of the TRUMP TUMBLE.

39 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Dow drops more than 500 points (Original Post) James48 Oct 2018 OP
It's Obama's fault! DavidDvorkin Oct 2018 #1
Obama is Trump's Emmanuel Goldstein DBoon Oct 2018 #8
Yes. DavidDvorkin Oct 2018 #9
"I take full responsibility for this colossal FAIL." - Dirty Donny* (R) Achilleaze Oct 2018 #2
yup... that major layoff at Ford is kicking the markets. lapfog_1 Oct 2018 #3
That's what I figured it was. Markets can't ignore 24,000 soon to be layoffs. bearsfootball516 Oct 2018 #6
Also enid602 Oct 2018 #37
Its actually the Republican parties tariffs as they have the majority in cstanleytech Oct 2018 #4
Well Ford talking about laying off 24,000 employees Iliyah Oct 2018 #5
Our local news back Rebl2 Oct 2018 #17
I apologize to the American people and christine blasey ford... ZeroSomeBrains Oct 2018 #7
Hell,I've been saying for almost two years this Trump run is all smoke and mirrors BS.... Bengus81 Oct 2018 #10
lemme try this again ... dweller Oct 2018 #11
+1 thanks Kurt V. Oct 2018 #23
Hogwash. .. pretzel4gore Oct 2018 #12
Down 641 right now Johnny2X2X Oct 2018 #13
he's claimed credit for the increase since the 16 election, so HE gets BLAME for any pullback. 7962 Oct 2018 #14
you know Trump will lie about it RussBLib Oct 2018 #15
I wonder how he'll say the Democrats did this? TeamPooka Oct 2018 #21
How long now? duforsure Oct 2018 #16
Down 800 now bronxiteforever Oct 2018 #18
Yep, Ali Velshi said that since it was still falling when the markets closed BigmanPigman Oct 2018 #20
Yikes bronxiteforever Oct 2018 #24
I am in the process of buying or leasing a new car. gordianot Oct 2018 #19
Steve Bannon told Bill Maher two weeks ago BigmanPigman Oct 2018 #26
Ford dealer is anticipating a 10 to 15% price increase next year. gordianot Oct 2018 #31
Our economy is about to get hit by the Trump Slump. CaptainTruth Oct 2018 #22
Profit taking before the election could go 15% grantcart Oct 2018 #25
A downward market trend will be bad for the party in power come election day. ffr Oct 2018 #27
You might want to edit your head to drops over 800. brush Oct 2018 #28
Let's see what happens over the coming days. bearsfootball516 Oct 2018 #29
It's Just the Masters Of The Stock Market... PeeJ52 Oct 2018 #30
Stock market is not the best marker of ecconomy AlexSFCA Oct 2018 #32
thanks Taylor Swift! KayF Oct 2018 #33
The markets have been Trumped up this whole time IronLionZion Oct 2018 #34
I don't know how much this has to do with tarrifs but The Liberal Lion Oct 2018 #35
If This Was on President Obama Watch... LovingA2andMI Oct 2018 #36
I think it's a combination of the tariffs and rising interest rates. Vinca Oct 2018 #38
Just a blip. nt Hotler Oct 2018 #39

Achilleaze

(15,543 posts)
2. "I take full responsibility for this colossal FAIL." - Dirty Donny* (R)
Wed Oct 10, 2018, 02:31 PM
Oct 2018

"I really screwed up with my stupid tariffs thingy, and pissing off all America's friends, and telling all those damn lies. Gosh darn it, I sure am sorry and all that kinda shit. Wink Wink." - Dirty Donny (R)


* aka republican Draft-Dodger-in-Chief

lapfog_1

(29,166 posts)
3. yup... that major layoff at Ford is kicking the markets.
Wed Oct 10, 2018, 02:31 PM
Oct 2018

and the bailout of certain farmers isn't going to help.

And be VERY afraid if China decides to start selling off their Tbill holdings.

cstanleytech

(26,080 posts)
4. Its actually the Republican parties tariffs as they have the majority in
Wed Oct 10, 2018, 02:31 PM
Oct 2018

Congress and thus the power to reign Trump in if he was doing anything that they truly did not endorse or support.

Iliyah

(25,111 posts)
5. Well Ford talking about laying off 24,000 employees
Wed Oct 10, 2018, 02:32 PM
Oct 2018

doesn't help. And my gosh, gas prices are rising let alone other items are rising.

Rebl2

(13,311 posts)
17. Our local news back
Wed Oct 10, 2018, 03:55 PM
Oct 2018

in September said we would see gas prices go down after Labor Day, but they haven’t. Here in Kansas City area they announced yesterday Ford here was laying off a lot of people soon, but didn’t realize it was across the country.

Bengus81

(6,907 posts)
10. Hell,I've been saying for almost two years this Trump run is all smoke and mirrors BS....
Wed Oct 10, 2018, 02:48 PM
Oct 2018

Simply because those huge rises in the DOW were based on NOTHING. That asshat is adding to the National Debt at an alarming pace seeing how he inherited an ultra low unemployment rate and a stable economy.

Funny how NOTHING is being said about adding $1 TRILLION to the ND in a mere eight months and 18 days. The orange SHIT GIBBON is well on track to hitting $2 TRILLION in new debt by 1/20/19.

 

pretzel4gore

(8,146 posts)
12. Hogwash. ..
Wed Oct 10, 2018, 03:08 PM
Oct 2018

Mr PIg has the Midas touch- all he needs to double (triple) the Dow is to blow something up. It's astounding how we let mr pig and co. to pervert the system. How can the world be flat if its round like a ball?
What is 'quantative easing'? Isit the use of public money to buy stocks in order to fake the value of the stock, to falsely establish a prosperity, with the caveat that IF ANYONE TRIES anything to reveal the FACTS, then the balloon will be pricked and ....omfg! Lookit what you have done! The US BUCK IS ....Trump's toilet paper! (The NY Times actually better as wipe!).
Iow, to save the village we must blow it up! Then the Dow rally big time!
The race of 2 herds of turtles!

Johnny2X2X

(18,745 posts)
13. Down 641 right now
Wed Oct 10, 2018, 03:15 PM
Oct 2018

We'd have a recession no matter who was in office, we've been a decade without a recession, these things are cyclical to an extent. What Trump has done though will hasten its coming and make it much deeper than it would have been.

 

7962

(11,841 posts)
14. he's claimed credit for the increase since the 16 election, so HE gets BLAME for any pullback.
Wed Oct 10, 2018, 03:23 PM
Oct 2018

Sorry Donald but thats how it works.

duforsure

(11,882 posts)
16. How long now?
Wed Oct 10, 2018, 03:42 PM
Oct 2018

Before the con man starts blaming others and saying it was not his doings, when we all know its all going to catch up to him and the gop from taking trillions out of the economy, and expecting it to get better when the only ones really benefiting are the wealthy, especially with their tax scams for them. They've also taken billions , no trillions out of Medicaid, Medicare and health care , and its killing the middle class and poor , then add to that tariffs and skyrocketing energy costs, which happen just like it did under W Bush too. It will continue to get worse , a lot worse with these policies they've done for the wealthy. This is just the tip of the iceberg .

BigmanPigman

(51,432 posts)
20. Yep, Ali Velshi said that since it was still falling when the markets closed
Wed Oct 10, 2018, 04:06 PM
Oct 2018

It is probably going to continue to fall more tomorrow.

gordianot

(15,226 posts)
19. I am in the process of buying or leasing a new car.
Wed Oct 10, 2018, 04:04 PM
Oct 2018

My Ford dealer of 40 years is screaming bloody murder on Trump tariffs.

BigmanPigman

(51,432 posts)
26. Steve Bannon told Bill Maher two weeks ago
Wed Oct 10, 2018, 04:41 PM
Oct 2018

that the farmers and everyone else who is bitching about the trade wars and tariffs now will be thanking the moron very soon. Bill wasn't buying it.

gordianot

(15,226 posts)
31. Ford dealer is anticipating a 10 to 15% price increase next year.
Wed Oct 10, 2018, 04:54 PM
Oct 2018

Since the pastures dried up June and July my renter is selling off cattle. He is complaining about Trump and is the last Republican I knowingly deal with. We are not charging him for use of pasture this year or next.

ffr

(22,649 posts)
27. A downward market trend will be bad for the party in power come election day.
Wed Oct 10, 2018, 04:46 PM
Oct 2018

It'll chip off more than 2 voters per precinct, enough to tip the scales back to representatives of the people, instead of representatives out for themselves.

bearsfootball516

(6,369 posts)
29. Let's see what happens over the coming days.
Wed Oct 10, 2018, 04:49 PM
Oct 2018

For it to have a real impact on voters, it'll need to keep dropping like this for the next several days.

If that happens, Trump is going to have a big problem on his hands, and the House race is going to turn into a wipeout.

 

PeeJ52

(1,588 posts)
30. It's Just the Masters Of The Stock Market...
Wed Oct 10, 2018, 04:49 PM
Oct 2018

Skimming off the top, because they can short individual stocks, unlike us poor saps with 401ks and IRAs tied up in mutual funds. See, they take our losses from our mutual funds and put them in their piggy banks, run the prices back up to make us think we're getting rich again, then take it right back down. With all this "great" stock market performance, my 2030 Performance Fund hasn't hardly gained anything. The only ones that have gained are the ones that know how and can manipulate individual stocks. Mutual Funds are just holding their own.

AlexSFCA

(6,137 posts)
32. Stock market is not the best marker of ecconomy
Wed Oct 10, 2018, 04:58 PM
Oct 2018

there are more important factors (for 99%) such as unemployment rate, consumer confidence index, even car sales.

IronLionZion

(45,261 posts)
34. The markets have been Trumped up this whole time
Wed Oct 10, 2018, 05:14 PM
Oct 2018

and in need of a correction.

They're blaming this dip on rising interest rates. But the impact of his disastrous trade and immigration policies is yet to come.

Businesses have gotten used to cheap lending. And rates will just keep rising.

The Liberal Lion

(1,414 posts)
35. I don't know how much this has to do with tarrifs but
Wed Oct 10, 2018, 05:17 PM
Oct 2018

I do know that bond yields will continue to rise as this fake government continues to produce more debt than a drunken teen with a stolen credit card. I'm not against debt, it can be a very valuable tool when used for investment purposes. But that's not what's happening to the debt now. The debt now is being used to subsidized the theft of resources from the people to the very exclusive 1%. What's happening now is simply unsustainable.

LovingA2andMI

(7,006 posts)
36. If This Was on President Obama Watch...
Wed Oct 10, 2018, 06:22 PM
Oct 2018

The Sell-Out Media would have already declared a Recession based on today's drop.

Vinca

(50,170 posts)
38. I think it's a combination of the tariffs and rising interest rates.
Wed Oct 10, 2018, 07:22 PM
Oct 2018

Ford said they're losing a billion dollars this year because of the tariffs and I'm sure they're not alone. Considering how Don ran his business "empire" (see New York Times article), catastrophe is inevitable. I bet Trump blames it on the Fed.

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