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| Economy |
| It's Likely Going to Be a Rough Day on Wall Street Today |
| 2024-08-05 |
| [TownHall] Wall Street is likely to be a bloodbath today. The first warning signs were on Friday, culminating on Sunday night when all hell broke loose in Asia. The Nikkei had its worst day since 1987, sinking nearly 4,000 points. It suspended trading after sinking nearly eight percent. South Korea’s stock exchange halted all sell orders as a looming wave of brutality is expected to hit Wall Street this morning. We’ll update this post accordingly, but a drubbing on the New York Stock Exchange shouldn’t surprise anyone. Also, don’t look at your 401ks (via CNBC): |
| Posted by:Besoeker |
#12
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| Posted by: badanov 2024-08-05 21:40 |
| #11 Some minor recovery during the day. Still a major wipe out of market cap, several $ Trillions counting the NASDAQ and NYSE. Let's see what happens tomorrow. |
| Posted by: Lord Garth 2024-08-05 16:40 |
| #10 Everyone is getting hit |
| Posted by: Mercutio 2024-08-05 11:28 |
| #9 You keep printing and spending money without back it all comes tumbling down. Not the Fed, not the Swamp is anyone saying gut spending. |
| Posted by: Procopius2k 2024-08-05 10:59 |
| #8 Alot of Directional and MWD hands stockpile gold and silver. One asked me if I wanted in on it and I said, "I'm stocking piling ammo, if you have ammo, you can get gold or silver or gas or anything else" |
| Posted by: Silentbrick 2024-08-05 10:38 |
| #7 Japan's Nikkei stock index down over 4,000 points, largest drop in its history |
| Posted by: Deacon Blues 2024-08-05 10:23 |
| #6 Ammo will always be worth more than gold. ☺ |
| Posted by: NN2N1 2024-08-05 09:59 |
| #5 Also FWIW, assuming the wipe out today is not quickly followed by a recovery, it will knock a couple of points off the numbers for the Democratic ticket. This is because the more the voters talk about the economy, the worse it is for the party in power. |
| Posted by: Lord Garth 2024-08-05 09:58 |
| #4 NASDAQ futures off 5% as of now and other markets off not much less. That translates into about $4 Trillion loss in market cap. As for the Federal Reserve, I have some sympathy for them. Biden's fiscal policy was so awful their job was impossible. In retrospect they should have tightened about a year before they did and then should have loosened about 3 months ago. But that is retrospect. |
| Posted by: Lord Garth 2024-08-05 09:18 |
| #3 We are already in stagflation due to Biden's team and their incompetence. Now we are hell bent for a full recession. |
| Posted by: DarthVader 2024-08-05 08:30 |
| #2 Top economist issues dire warning about the US economy as he tears into the Fed |
| Posted by: Skidmark 2024-08-05 08:24 |
| #1 Elon Musk says Fed 'foolish' for not cutting interest rates yet |
| Posted by: Skidmark 2024-08-05 08:22 |
