Ugly Start to 4th Quarter
The Wall Street Journal reports U.S. Stocks Drop on Worries About Growth
The Dow Jones Industrial Average dropped about 500 points Wednesday as worries about a slowdown in the U.S. economy rattled markets to start the fourth quarter.
The stock market’s declines were broad and accelerated through the morning. All 11 sectors in the S&P 500 fell, as did all but one of the 30 blue-chip stocks in the Dow. Among the biggest losers were shares of big industrial and technology companies.
FTSE 3% Decline
The Financial Times reports FTSE 100 has worst day since 2016 as global stocks extend ugly start to Q4
Rate Cut Odds Soar
A week ago, CME Fedwatch had the odds of a cut just over 50-50. Today, they are over 75%.
Half-Assed Assurances
I suspect New York Fed president John Williams did not do the markets any favors today with his half-assed assurances Fed has Recession Tools, Promises to Use them Quicker Next Time.
Long-term, such statements are meaningless even if they did affect something today.
Blame Impeachment
All of this impeachment nonsense, which is going nowhere, is driving the Stock Market, and your 401K’s, down. But that is exactly what the Democrats want to do. They are willing to hurt the Country, with only the 2020 Election in mind!
— Donald J. Trump (@realDonaldTrump) October 2, 2019
New Rule
It’s never about Trump, unless it’s good.
Thus, when you see headlines like this Manufacturing ISM Worst Since 2009 on Severe Contraction of Export Orders it is a certainly that Trump played no part of it.
Instead, the blame must be elsewhere. In this case, the global decline is clearly about impeachment.
Mike “Mish” Shedlock
Biden has early stage alzheimers, his son is a crook, and Biden himself tried to blackmail Ukraine by withholding US taxpayer funds unless his crooked son got a pass.
Bernie had a “heart attack” this morning, and thinks that socialism is viable.
The idea that the batsh!t lady from Massachusetts is now, by default?, the dem front runner … has Wall Street absolutely terrified. And the IPO crowd in California will all be homeless if Warren decimates their IPO businesses.
Even faceplant CEO Zuckerberg understands that Pocahontas is an existential threat to the IPO lifestyle that is northern California to Seattle.
That is what made the stock market tank. No one actually believes Trump will get impeached, but he might waste so much energy tweeting about the crazy lady that he drops the ball on something important.
You’ll get tired of all the winning Trump appears to be losing it now…
He missed an excellent opportunity to shrug his shoulders & do a much better mobster impersonation when he asked “Are you talking to me?”
A two baby always has somebody else to blame. Does anybody seriously expect Trump to act differently?
When there is a shortage of US dollars, something must get sold.
Look at it this way, the economy would be already in recession without a trillion dollar deficit (5% GDP growth is a trillion dollars–and we’re diving down to 2%).
Feel better now?
Try to tell me it has to do with the “I” word flung in last couple of weeks.
If it was not for the media, impeachment, back stabbers than the economy would be on solid ground and humming along nicely? hmmm
You know you are dealing with a genuine economic illiterate; when something gratuitously mispriced becoming (slightly) less so; makes him run around looking for someone to, of all things, “blame….”
He’s not an economic anything. Obviously not a single field of knowledge interests the man. He has one interest: to control human herds through selective noise-making. And he’s quite good at it. And not to say he is in the same moral realm at all, but this is Trump’s greatest similarity to Adolph Hitler.
A textbook example of Godwin’s Law if I ever saw one.
I get it, you hate the guy….just stop this hyperbole, please.
Not hyperbole, but you have to think about it. Individuals who use words exclusively to send out emotional waves and to “manipulate” groups, and NEVER to communicate honest, consistent reasoning, that is a very rare psychology even among modern politicians.
It is actually the grain of truth in TDS: Trump has zero interest in truly being reasonable, he flips what he says from one hour to the next. The West has never seen a leader like this. (Almost!)
I say this having enjoyed Trump’s ceaseless mocking of libtards. Refreshing, isn’t it? Most cases of TDS are actually based in the libtard’s automatic revulsion to anyone who is even slightly pro-individualism.
How about opposite sides stop this endless polarizing? I’m for it.
DJT has 65 million followers on twitter.
Tweet hurricanes ahead as he gets in front of media to lay blame.
Laid groundwork on who the fall guys will be … Xi for not making a deal … Powell for too little too late … Democrats who want to impeach.
It will be interesting to follow his poll numbers as recession builds.
60 million of that 65 only follow to make fun of him.
Unless this economy (massively)markedly improves (and fast) Trump’s chance to reup for a 2nd tour drops to zero (less than zero).He’s won’t run and take a chance on gettin embarrassed by Hillery or Pocohontas,he’ll go the LBJ route…..claim a bone spur flare up why he’s not running for reelection,then ride off into the sunset knowing he at least tried to turn this disaster around!
The economy is only bad in the doom and gloom crowd. Unemployment is 3.7%. That’s the part of the economy that influences most votes.
low unemployment has been the case right before most of the last few recessions
Can not talk unemployment rate without discussing participation rate.
If someone chooses to do so … I know not to waste my time listening.
“New Rule It’s never about Trump, unless it’s good.”
That’s new? I have a feeling that’s been going on for about 70 years now.
I doubt that Trump has much of an effect on the stocks in the long term, one way or the other.