Chinese stock market plunge causes global rout. Today’s fortune cookie say “You Lose!” Down 8.5%. UPDATE: Selloff on Wall Street. Dow hovering around -1000 points in first few minutes of trading. UPDATE: Hovering in mid 500’s. Bears must be buying.
This post was last modified on January 26, 2021
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Read that if the market drops 7%, they will close the exchange. But not to worry, Quagmire and crew will be happy to print a couple of trillion for their friends at Goldman Sachs.
Sure the Shenzhen wasn't just holding a fire drill?
Nasdaq futures are lock limit down now. They've stopped more than once, so you know it's not good. Trying to keep things pumped for now, I wonder what the last half hour of trading will look like and if Yellen will come out and talk of delaying a rate hike or imply a little bit more QE.
Said it before and I'll say it again, stay away from the markets unless you really know what you're doing.
Not to pat myself on the back but there was your late afternoon sell off two days in a row. Sad that it's so predictable.
The tale will really be told once the 3rd quarter ends. The reason so many crashes happen in October is because it's when the 3rd quarter reports come in. They've already been shaky two quarters in a row and I can't imagine they will improve after the last couple of months.
I ain't Miss Cleo but buckle the seat belts just in case, people. Unless The Fed jumps in and starts devaluing the dollar again, things could get real bumpy.
Aside from more QE there is not much the Fed can do. Our markets are subject to Chinese monetary policy for now.
No one likes to see paper losses in their 401(k)s but this correction was inevitable and once all the water is wrung out, the market will climb again. Always has and always will.
That's why I have picked a bail out point the last couple of corrections, and then got back in when things started recovering. Haven't lost anything, but keep growing the retirement fund.
Wonder how the smartest guy in the room is going to handle this? That Mr. Yellin Guy has been playing with fire for years and looks like he is gonna get taken to the burn ward. All the presidents rich buddies are gonna be screaming for him to do something, and he will respond by either blaming Bush or playing golf. Maybe he could bail out the Chinese like he did with Government motors. And all of US can pay for that too.
I just read, the stock market is going to hell, and Obutthead is off to Vegas....Figures. I am sure there will be a round or two of golf, plus a fund raiser and a speech to the drooling demotard faithful.
http://www.breitbart.com/big-government/2015/08/24/obama-leaves-for-las-vegas-as-stock-market-crashes/
He has the government credit card, I'm betting he will be losing big at the tables, with OUR MONEY!!!
Just to be clear; QE is working.
It sure is, for those that have been shorting the market.
LOOKIT the market today! QE is working?
We've seen it before. Let's hope the cooler heads prevail.
The Dow futures were at -625 at 8:30. That ain't set in stone for the open, but the trading floor is already starting to call today "Black Monday". If it gets to -1100 during trading, they'll shut it down. Either way, the potential for a blood bath today is HUGE...