Biden crashes the Dow

**Legion** · 06-18-2021, 06:46 PM

U.S. stocks retreated Friday, as traders warily eyed the Federal Reserve for hints of where monetary policy is headed.

The Dow Jones Industrial Average had its worst week since Oct. 30. The index of blue-chip stocks on Friday fell 1.6%, or 533.37 points, to 33290.08. For the week, it lost 3.45%.

The S&P 500 declined 1.3%, or 55.41 points, to 4166.45 on Friday, losing 1.9% on the week.

The Nasdaq Composite lost 0.9%, or 130.97 points, to 14030.38, as large technology stocks also fell. For the week, it was down 0.3%.

Policy makers had signaled Wednesday that they expect to raise interest rates sooner than they had previously anticipated.

In bond markets, the yield on the 10-year Treasury note fell to 1.449% Friday, down from 1.509% Thursday. The 10-year yield has fallen for five straight weeks.

Sentiment waned again on Friday after Federal Reserve Bank of St. Louis leader James Bullard said on CNBC that he expects the first rate increase even sooner.

https://www.wsj.com/articles/global-stock-markets-dow-update-06-18-2021-11624002788

**T. A. Gardner** · 06-18-2021, 07:05 PM

I doubt Biden did that. Rather, it's past actions of Biden, Trump, the Democrats, and Republicans, among others that have run the national debt through the rafters and that is now coming home to roost.

**Legion** · 06-18-2021, 07:13 PM

Originally Posted by T. A. Gardner

I doubt Biden did that. Rather, it's past actions of Biden, Trump, the Democrats, and Republicans, among others that have run the national debt through the rafters and that is now coming home to roost.

**T. A. Gardner** · 06-18-2021, 07:18 PM

Okay, that's probably a good thing...

**anatta** · 06-18-2021, 07:23 PM

Originally Posted by T. A. Gardner

I doubt Biden did that. Rather, it's past actions of Biden, Trump, the Democrats, and Republicans, among others that have run the national debt through the rafters and that is now coming home to roost.

total COVID relief was like 4(?) trillion. Biden just shoved more thru - spending targeted years away.
He wants 2 more: (Infrastructure and Jobs), Id say he gets his fair share of the blame -and it's going to be more of this

**Legion** · 06-18-2021, 07:25 PM

Originally Posted by anatta

total COVID relief was like 4(?) trillion. Biden just shoved more thru - spending targeted years away.
He wants 2 more: (Infrastructure and Jobs), Id say he gets his fair share of the blame -and it's going to be more of this

It's already begun, but we're supposed to think it's just "temporary".

https://www.justplainpolitics.com/sh...my-in-the-news

**anatta** · 06-18-2021, 07:29 PM

Originally Posted by Legion

It's already begun, but we're supposed to think it's just "temporary".

https://www.justplainpolitics.com/sh...my-in-the-news

that was the BIG SWING AND A MISS from the Fed earlier this year - just supply chain problems
How can they ignore pumping trillions and trillions into a "v-shaped" recovery overheats and inflates?
Then there the crappy jobs results from Biden becoming a trend

Smart people on a budget held on to their stimulus payments to pay for coming inflation

**T. A. Gardner** · 06-18-2021, 07:31 PM

Originally Posted by anatta

total COVID relief was like 4(?) trillion. Biden just shoved more thru - spending targeted years away.
He wants 2 more: (Infrastructure and Jobs), Id say he gets his fair share of the blame -and it's going to be more of this

Hey, it's like having a hole in the bottom of your boat and you decide to fix it by pounding on it with a sledgehammer...

**cawacko** · 06-18-2021, 07:43 PM

Originally Posted by T. A. Gardner

I doubt Biden did that. Rather, it's past actions of Biden, Trump, the Democrats, and Republicans, among others that have run the national debt through the rafters and that is now coming home to roost.

The sell off was driven by the Fed and the belief that they are going to raise rates sooner than expected. The market is addicted to easy money. It gets off on the sugar high and the Fed has long been afraid to take it away from them.

Understandably not everyone understands what the Fed does and how monetary policy influences/drives the market. Thus the crediting or blaming of President’s because that’s what we do for everything else.

**Legion** · 06-18-2021, 07:43 PM

**gemini104104** · 06-18-2021, 07:43 PM

Originally Posted by Legion

U.S. stocks retreated Friday, as traders warily eyed the Federal Reserve for hints of where monetary policy is headed.

The Dow Jones Industrial Average had its worst week since Oct. 30. The index of blue-chip stocks on Friday fell 1.6%, or 533.37 points, to 33290.08. For the week, it lost 3.45%.

The S&P 500 declined 1.3%, or 55.41 points, to 4166.45 on Friday, losing 1.9% on the week.

The Nasdaq Composite lost 0.9%, or 130.97 points, to 14030.38, as large technology stocks also fell. For the week, it was down 0.3%.

Policy makers had signaled Wednesday that they expect to raise interest rates sooner than they had previously anticipated.

In bond markets, the yield on the 10-year Treasury note fell to 1.449% Friday, down from 1.509% Thursday. The 10-year yield has fallen for five straight weeks.

Sentiment waned again on Friday after Federal Reserve Bank of St. Louis leader James Bullard said on CNBC that he expects the first rate increase even sooner.

https://www.wsj.com/articles/global-stock-markets-dow-update-06-18-2021-11624002788

You are a fool along with your other tRump ass lickers: Considering the DOW which is still the highest ever in history at over 30,000 gained 300 points in April, this correction is only offset by 200 points. tRump's pandemic at causing the economy to contract as a result of the affects of the covid-19 on the economy, demonstrates the root cause is in fact tRump's culture of economic turmoil.

Dow futures plunge 500 points as Trump says he tested positive for Covid-19
Futures tied to the Dow Jones Industrial Average plummeted 500 points. S&P 500 futures and Nasdaq 100 futures were also in negative territory.

https://www.nbcnews.com/business/mar...ested-n1241770

Aside from this opinion and some facts, the stock market selloff is good news:

Stocks have been dropping, but if this is the beginning of a longer-term correction, that may actually bode well for a sustained bull market.

The S&P 500 is down more than 3% since hitting an all-time high May 7, while the Nasdaq Composite has dropped even more. Investors are worrying about whether high inflation will prompt the Federal Reserve to increase interest rates faster than expected—a shift that would make bonds more appealing relative to stocks.

Wednesday’s consumer-price-index data, showing prices rose much faster than expected in April, added to those concerns. It could be helping to lay the groundwork for a cooling off in stocks that would fit the pattern of past long-term rallies."

https://www.barrons.com/articles/why...ws-51620901801

**Legion** · 06-19-2021, 05:31 PM

Originally Posted by gemini104104

tRump tRump tRump Trump

.

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