General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region Forums"...Trump now owns 10 of the Dow's top 20 worst single-day declines in stock market history..."
Link to tweet
https://en.wikipedia.org/wiki/List_of_largest_daily_changes_in_the_Dow_Jones_Industrial_Average
LuckyCharms
(17,278 posts)He is referring to point drops, which are meaningless since the DJIA base in which the point drop is applied has grown larger over the years, hence large point drops represent a lower percentage today than they did say 50 years ago.
A true measurement of DJIA drops would be the percentage drops, rather than the point drops, and Trump has not made that list. Yet.
PJMcK
(21,916 posts)That was my first reaction, too.
No one hates Trump more than I do. But let's use real facts to destroy his facade of bullshit.
LuckyCharms
(17,278 posts)Lucky Luciano
(11,242 posts)onenote
(42,373 posts)As noted, none of the one-day market drops during Trump's presidency make the top 20 in percentage declines, which is what matters. Indeed, if you want to hang the big point drops on Trump, then you need to consider that 7 of the top 20 big gaining days also occurred while he was president -- including after some of those big drops.
Think about it this way: If you had $1000 in the market and it declined by 3 percent (yesterday's big loss), you'd have lost $30. If the market had declined 7 percent (the 20th largest drop), you'd have lost $70.
Johnny2X2X
(18,731 posts)Large swing in the regular are taking their toll and eventually investors will have had enough and will park their money in safer investments. This has already been happening. And there is some dumb money inflating prices right now.
mia
(8,356 posts)Trump last week proposed stripping away electric-car subsidies from General Motors as punishment for the automotive giant moving to cease production at plants in the United States and Canada. But then his chief economic adviser, Larry Kudlow, said the White House would do no such thing. Targeting a single company, he explained, would be illegal.
Then there is the way Trump talks about how the economy works imprecise at best, ignorant at worst. For instance, the president routinely says that China and other countries are paying billions of dollars to the United States because of his tariffs. But that is false. Tariffs are paid by companies, often U.S. firms, that import foreign-made products.
Once again this week, world leaders, U.S. lawmakers and jittery investors have been reminded that Trumps words cannot always be trusted.
The whiplash nature of Trumps economic policies and pronouncements bore tangible consequences on Tuesday, when U.S. stock markets cratered amid investor skepticism of Trumps China talks. The Dow Jones industrial average dropped 799 points, or 3.1 percent, while the Standard & Poors 500-stock index fell 3.2 percent and the Nasdaq dropped 3.8 percent.
more
https://www.washingtonpost.com/politics/chaos-breeds-chaos-trumps-erratic-and-false-claims-roil-markets-again/2018/12/04/824506fa-f7ff-11e8-863c-9e2f864d47e7_story.html
Maxheader
(4,366 posts)Poor, trash and love to see the rest of us brought down to their
economic wasteland...
inwiththenew
(972 posts)#3 2018-03-26 24,202.60 +669.40
#5 2018-11-28 25,366.42 +617.70
#8 2018-10-16 25,798.42 +547.87
#9 2018-11-07 26,180.30 +545.29
#17 2018-03-09 25,335.74 +440.53
#18 2018-10-30 24,874.64 +431.72
#20 2018-04-10 24,408.00 +428.90
[link:https://en.wikipedia.org/wiki/List_of_largest_daily_changes_in_the_Dow_Jones_Industrial_Average|
The story here is really market volatility this year as someone else pointed out.
GusBob
(7,286 posts)Asking 'cuz I really don't know.
It is said he spends a lot of time talking to his friends at night. I assume these are wealthy Mar-A-Lago donor types. How hard would it be for him to say. "Tomorrow I am gonna lie about Chinese tariffs--ride the gain and then sell" or "tomorrow I am going to tweet about GM- short your options"
Is this feasible?