Wall Street sell-off accelerates in the final hour

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floridafan

Verified User
The Dow Jones Industrial Average plunged more than 1,800 points on Thursday and was on pace for its worst day since the March sell-off as coronavirus cases increased in some states that are reopening up from lockdowns. Shares that have surged recently on hopes for a smooth reopening of the economy led the declines.

The 30-stock Dow traded 1,700 points lower, or 6.3%. The S&P 500 slid 5.4% while the Nasdaq Composite dropped 4.6%. Thursday’s losses also put the Dow on pace for its first three-day losing streak in a month. The S&P 500 was headed for its worst day since March 16.

“You’re seeing the psychology in the market get retested today” as traders weigh the the recent uptick in coronavirus hospitalizations and a grim outlook from the U.S. central bank, said Dan Deming, managing director at KKM Financial. “The sense is maybe the market got ahead of itself, which makes sense given the fact that we’ve come so far so fast.”

“The reality is this thing’s going to linger longer than probably the market had through of,” Deming said.

https://www.cnbc.com/2020/06/10/stock-market-futures-open-to-close-news.html
 
I don't understand.

Didn't Trump promise that it would be all over in a matter of days? Down to zero?
 
We are going to shut right back down. Thanks to the morons in the Republican party, and the Trump cult that thought it was all a hoax. Way to go, losers.
 
floridafan said:
The Dow Jones Industrial Average plunged more than 1,800 points on Thursday and was on pace for its worst day since the March sell-off as coronavirus cases increased in some states that are reopening up from lockdowns. Shares that have surged recently on hopes for a smooth reopening of the economy led the declines.

The 30-stock Dow traded 1,700 points lower, or 6.3%. The S&P 500 slid 5.4% while the Nasdaq Composite dropped 4.6%. Thursday’s losses also put the Dow on pace for its first three-day losing streak in a month. The S&P 500 was headed for its worst day since March 16.

“You’re seeing the psychology in the market get retested today” as traders weigh the the recent uptick in coronavirus hospitalizations and a grim outlook from the U.S. central bank, said Dan Deming, managing director at KKM Financial. “The sense is maybe the market got ahead of itself, which makes sense given the fact that we’ve come so far so fast.”

“The reality is this thing’s going to linger longer than probably the market had through of,” Deming said.

https://www.cnbc.com/2020/06/10/stock-market-futures-open-to-close-news.html
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I think the whole mushrooming charts thing since Donald Trump's Tax Bill, has been a bubble all along.

I knew the bastards were going to take their Golden Parachutes and bail.
 
Trumpet said:
Is this a correction or is this a crash???
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Correction. The rally from last week was premature. We are in a deep recession, and it isn't going to end any time soon. Reopening happened way too fast. Irresponsible Trump cult members are out there spreading the disease. The protests will exacerbate the problem. We are heading for very, very difficult economic waters. Trump lied to the cult again, and they believed him again. Now we will have to endure shutdown number 2.
 
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