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2019-08-15 Economy
US markets plummet in their worst day of 2019
[Aljazeera] The Dow tumbles 800 points as investors worry about the global economy, the US-China trade war and Brexit.

Wall Street sold off sharply on Wednesday as recession fears gripped the market after the United States Treasury yield curve temporarily inverted for the first time in 12 years.

All three major US indexes closed down about three percent, with the blue-chip Dow posting its biggest one-day point drop since October after two-year Treasury yields surpassed those of 10-year bonds, which is considered a classic signal of recession.

Dire economic data from China and Germany suggested a faltering global economy, stricken by geopolitical tensions, Brexit woes and the increasingly belligerent US-China trade war.

Germany reported a contraction in second-quarter gross domestic product, and China's industrial growth in July hit a 17-year low.

"It was all negative and not much positive today," said Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana in the US. "We're outside of the earnings season and markets are being batted around by news."
Posted by Besoeker 2019-08-15 03:07|| || Front Page|| [11134 views ]  Top

#1 Continued globalism and the sell-out to cheap Chinese labor. What could possibly go wrong ?
Posted by Besoeker 2019-08-15 03:14||   2019-08-15 03:14|| Front Page Top

#2 What could go wrong?
Trump has moved tariffs to Sept to give Xi some relief on Hong Kong instead of crushing them on multiple fronts.
Posted by Skidmark 2019-08-15 04:30||   2019-08-15 04:30|| Front Page Top

#3 The timing of Lekima is like... providence ? The left need artificial calamities and atrocities to virtue signal. Trump doesn't need that.
Posted by Dron66046 2019-08-15 05:08||   2019-08-15 05:08|| Front Page Top

#4 So dow fell on imported problems...

Downside of globalism, the problems of the world's less civilised nations become your problems even if your economy is doing fine.
Posted by Bright Pebbles 2019-08-15 06:07||   2019-08-15 06:07|| Front Page Top

#5 Meh. Yield curve got inverted because Hong Kongers and other nervous Asians are buying dollars. Not a signal of recession. Markets will go up a lot today. Same old roller coaster to shake out the weak money.

Yesterday was a buying opportunity and I loaded up. Patience Grasshopper.
Posted by Elmosh Cheaque8940 2019-08-15 07:36||   2019-08-15 07:36|| Front Page Top

#6 Good point, Elmosh Cheaque8940.

That would explain why President Obama’s Fed chair, Janet Yellen, is not concerned.
Posted by trailing wife 2019-08-15 10:26||   2019-08-15 10:26|| Front Page Top

#7 MEDIA PLAYBOOK
Markets fall by 3%: Trump's economic policies FAIL!!! Trump's end is nigh!
Markets rise by 3%: Trump's a Russian agent a crook a racist a white supremacist!!! Trump's end is nigh!
Posted by Lex 2019-08-15 10:41||   2019-08-15 10:41|| Front Page Top

#8 A!so known as "August"
Posted by Frank g 2019-08-15 11:48||   2019-08-15 11:48|| Front Page Top

#9 Chinese labor isn’t that cheap anymore. Look for a massive exodus out of China in the near future.
Posted by Fat Bob Javish1936 2019-08-15 17:36||   2019-08-15 17:36|| Front Page Top

19:10 Rambler
18:30 DooDahMan
18:28 DooDahMan
18:12 Matt
17:45 trailing wife
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