Dow dives 400 points to end its worst week in 10 years

[Yo_Mama_Been_Loggin]

Stocks plunged again Friday, bringing the Dow Jones Industrial Average's losses for the week to nearly 7 percent and ending its worst week since the financial crisis in 2008. The Nasdaq Index fell into a bear market, and the S&P 500 was on the brink of one itself, down nearly 18 percent from its record earlier this year.

The Federal Reserve's rate hike Wednesday drove the losses this week and fears of an extended government shutdown only added to the pain on Friday.

The Dow lost 414 points in turbulent trading that sent the blue-chip index up as much as 300 points earlier in the day, only to trade in negative territory less than one hour later. The initial tick upward came as Federal Reserve Bank of New York President John Williams said that the central bank could reassess its interest rate policy and balance sheet reduction in the new year if the economy slows.

But those gains slowly disappeared as investors used that short-term pop as a chance to sell more. The broader S&P 500 fell 2 percent on Friday, while the tech-heavy Nasdaq shed 2.99 percent, with big losses in technology stocks, including Facebook, Amazon and Apple.

https://www.msn.com/en-us/news/other/dow-dives-400-points-to-end-its-worst-week-in-10-years/ar-BBRfABn

[thegoose]

1. But we have the bestest businessman in the White House

Fucking two-bit grifting scum. Pukes and MAGATs own this shit.

[at140]

3. 2 year history of SPX from 2250 to 2416

SPX was at 2250 when Rump was elected.
It is now 2416. Pretty soon it will have lost all gains
since he was elected.

SPX is 500 biggest corporations.

[Squinch]

2. Everyone keeps attributing this to the rate hike. Everyone knew the rate hike was coming. In fact,

the Fed put out good news about that, saying they would slow down the planned rollout of the rate hikes. So the hikes were baked into the market already, and this week's news from the Fed should have been, and probably was, positive.

This drop began before anything was happening with rates. It is all from the chaos coming out of Individual 1.