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U.S. stocks plunged on Monday in their worst Christmas Eve trading ever, as the S&P 500 entered a bear market.
The Dow Jones Industrial Average dropped by 653 points Monday in volatile trading, falling below 22,000. The Dow sank more than 2 percent, then recovered nearly all of the day’s losses, before again falling more than 2 percent. The S&P 500 fell 2.7 percent, slipping into a bear market as it fell 20.06 percent from recent highs. Wall Street traditionally considers a drop of 20 percent or more from recent highs to be a bear market. The Nasdaq Composite Index slid 2.2 percent.
It's a correction which was expected and actually overdue.
Thank the fed for raising the cost of money. They kept it at 0% interest all but 1 quarter of Obama's 32 quarters. In Trumps 8 quarters, they raised it 5 times.
Obama has been taking credit for the markets for the last 5 months, so the correction must be his fault too.
All this blather and nonsense is more than laughable. This correction sets up a great buying opportunity. For those not in cash after the first couple of rate hikes, well that's on you!
Confusing signals from Washington send markets plunging
It this what you call, "Draining the Swamp?"
Quote:
Alarmed investors drove the Dow more than 650 points lower in a shortened trading session on Monday. Markets plunged after the Trump administration sent out confusing signals about markets and the economy.The S&P 500 fell 2.7% and the Nasdaq was off 2.2%. The Dow, which fell 2.9%, and the S&P 500 suffered their biggest Christmas Eve declines ever.
Stocks initially fell on Monday following a statement from Treasury Secretary Steven Mnuchin that he had checked on the health of the country's largest banks.
Its called high interest rates.
If Trump fires the Fed Reserve Chairman, and his replacement lowers interest rates, then stocks rise everywhere.
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Confusing signals from Washington send markets plunging
