General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsStocks Are Getting Demolished
The Dow is down 180 points. The Nasdaq is down 83 points, which translates to a 2.2% loss on the day.
The biggest losers today include chip companies AMD and Micron Technology, which are down 5% and 4%, respectively.
All of this comes as tensions heat up in Syria.
Read more: http://www.businessinsider.com/nasdaq-stocks-tanking-2013-8
Blue_Tires
(55,445 posts)HardTimes99
(2,049 posts)and 10-year bonds aren't much better (about 2.75%). In other words, the risk-free and low-risk alternatives don't even return enough to keep up with inflation. So if you have your savings in a savings account, it is losing about 2% purchasing power per year, given a 2% inflation rate and 0% interest paid.
edhopper
(33,576 posts)steal your savings or force you to invest in the fixed casino that is Wall Street.
HardTimes99
(2,049 posts)return enough to even keep up with inflation, but the main reason (imho) is that global demand is so depressed that businesses do not need to borrow any money to finance the operation and expansion of their stagnant operations. Easier to increase profits by cutting wages and benefits than by trying to sell goods and services to a market without the wherewithal to purchase them. When demand for money is weak, interest rates will decline to near nothing, as has been the case since 2008.
edhopper
(33,576 posts)all the free money Bernake has been given out to Corporate America for the last 5 years.
Junkdrawer
(27,993 posts)This is nuthin
DinahMoeHum
(21,786 posts). . .and if/when things really get bad, I'll jump right in.
As followers of Warren Buffett and John Templeton have said though the decades: you have to be greedy when others are fearful, and you have to be fearful when others are greedy.
HardTimes99
(2,049 posts)others are selling and sell when others are buying.
DinahMoeHum
(21,786 posts)n/t
denverbill
(11,489 posts)And vice versa.
I didn't do that during the Bush stock bubble/collapse.
It's nice to always have some cash on the sidelines and buy when prices are low.
Cali_Democrat
(30,439 posts)I wouldn't really call that a demolishing.
HardTimes99
(2,049 posts)hfojvt
(37,573 posts)if you look at it compared to last year.
Last year it was at 13,200 now it is at 14,800.
However, last month it was at 15,600 so it has taken a fair beating, but that beating down comes after a surge up. So it is not a loss even compared to four months ago.
FSogol
(45,484 posts)daa
(2,621 posts)PowerToThePeople
(9,610 posts)Been out of the stock market for a while.
Why should I play the game of the 1%? I can not win. It is their ponzi scheme to control. I am going to drop out further and further from "capitalist" society as my world allows.
DontTreadOnMe
(2,442 posts)their killing.
HardTimes99
(2,049 posts)I haven't yet bit the bullet and gone 'all in' on dropping out. Thought about doing it with Occupy Los Angeles and am glad now I decided not to.