Dow, Nasdaq log worst day since September as financial stocks crumble

christiefan915

christiefan915

Catalyst
Contributor
Will trump take the blame for this, like he takes the credit every time the market rises?

"U.S. stocks sank Tuesday as the Dow and the Nasdaq logged their worst daily drops since September, while the S&P 500 also tumbled the most in a single session in five months...

“I think that investors are kind of starting to discount the likelihood of the immediacy of [President Donald Trump’s] policies and the enthusiasm has come off the boil as a lot of his policies got mired in the legislative process,” said Jack Ablin, chief investment officer at BMO Private Bank. “Investors are not throwing in the towel but they are resetting their expectations.”

The day’s weakness extended the modest downtrend that stocks have been in recently. Of the 16 trading days thus far in March, including Tuesday, the S&P 500 has been lower on 10 of them, including in five of the past six sessions. The benchmark index’s current losing streak is its longest since early November, ahead of the U.S. presidential election."

http://www.marketwatch.com/story/us...as-nasdaq-tries-for-another-record-2017-03-21
 
The speculation of the article focuses on the immediacy of Trump's policies & the legislative process - but you have to wonder how much of this has to do w/ Trump's rapidly waning credibility.

All of that "believe me" stuff seems like fantasy now to anyone w/ a brain. What can anyone really believe about what Trump promised, or what he says today?
 
christiefan915 said:
Different sites I read said it was partly because of the uncertainty of repealing Obamacare.
Click to expand...

There's that, just as the thought he was going to cut taxes and spend on infrastructure was the cause of the run up after his election. But ultimately stocks have been overvalued and zero interest rate policy from the Feds have created a bubble and we are going to see it collapse.
 
christiefan915 said:
Different sites I read said it was partly because of the uncertainty of repealing Obamacare.
Click to expand...
Only with respect to the timing of the removal of all banking regulation when they repeal Dodd/Frank. The sector was artificially inflated due to trump's anti American policies. Now that the sector knows that the healthcare issue is stalled, we are seeing a correction of the fake bubble.

We'll see it surge later in the year, when the pro Russian wing of the Congress gives up on healthcare, and gets down to destroying the economy again via Wall St. giveaways.
 
Two things at play. Fed raising rates and debt limit.

Fed has been responsible for the market for 8 years now. If you don't know that you are a financial illiterate
 
The markets almost always dip when the Fed threatens to raise interest rates.

:dunno:

We've been waiting for that bubble to burst for a very long time. It's way overdue.
 
Althea said:
Only with respect to the timing of the removal of all banking regulation when they repeal Dodd/Frank. The sector was artificially inflated due to trump's anti American policies. Now that the sector knows that the healthcare issue is stalled, we are seeing a correction of the fake bubble.

We'll see it surge later in the year, when the pro Russian wing of the Congress gives up on healthcare, and gets down to destroying the economy again via Wall St. giveaways.
Click to expand...

Nice hyperbole and scare attempt. All banking regulations are not going to be removed. Great knowing you love small banks being suffocated.
 
Bigdog said:
The markets almost always dip when the Fed threatens to raise interest rates.

:dunno:

We've been waiting for that bubble to burst for a very long time. It's way overdue.
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Historically...yes. This wasn't a 'dip'. Oil (thankfully) is crashing after trump's pro oil attitude has met with reality. Banking took a major shit due to the stalemate over the Anti America Healthcare Act.

Everyone in the market knew the Fed was going to raise short term rates. The market still had a bump the day before, and after. .25% on short term rates does little to effect the market in reality.
 
cawacko said:
Nice hyperbole and scare attempt. All banking regulations are not going to be removed. Great knowing you love small banks being suffocated.
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Small banks are not being suffocated. I just spoke with my community bank's manager last week. Sure...D/F cost them a bit, but that was due mostly to compliance with notifications and implementing new policies. Creating new overdraft policy takes paper, and man hours.

Tell us which D/F regulations will remain.
 
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