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Wed Oct 10, 2018, 03:24 PM

Dow plummets 600 points in worst drop since March, Amazon and tech shares lead the rout

Stocks sank on Wednesday as a steep decline in tech shares and worries of rapidly rising rates sent Wall Street on pace for its worst day in six months.

The Dow Jones Industrial Average traded more than 600 points lower as Intel and Microsoft fell more than 2.5 percent each. The Nasdaq Composite plummeted 3 percent.

The S&P 500 dropped 2.5 percent, with the tech sector underperforming. The broad index was also headed for a five-day losing streak — which would be its longest since late 2016 — and fell below its 50-day moving average, a widely followed technical level.

Both the Dow and S&P 500 were also on pace for their worst day since March.


https://www.cnbc.com/2018/10/10/us-markets-bond-yields-and-data-in-focus.html

13 replies, 138 views

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Always highlight: 10 newest replies | Replies posted after I mark a forum
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Reply Dow plummets 600 points in worst drop since March, Amazon and tech shares lead the rout (Original post)
Troll2 Oct 10 OP
TM999 Oct 10 #1
RCW2014 Oct 10 #3
TM999 Oct 10 #6
RCW2014 Oct 10 #7
Solesurvivor Oct 10 #2
RCW2014 Oct 10 #4
TM999 Oct 10 #5
RCW2014 Oct 10 #8
TM999 Oct 10 #9
RCW2014 Oct 10 #10
TM999 Oct 10 #11
RCW2014 Oct 10 #12
TM999 Oct 11 #13

Response to Troll2 (Original post)

Wed Oct 10, 2018, 03:38 PM

1. This was expected.

China has inserted themselves into the tech supply chain since the mid 1990's in such a way that it is fast becoming a national security threat. China considers these actions to be strategic, however, tit for tat tariffs will harm them as well so this particular battle will be a short one. They import over $130 billion in tech related products so this is not one-sided.

I think we can expect a hot period followed by a cooling off and renegotiations of certain key tech sector tariff deals. Then the market will not only bounce back to current levels but ultimately rise even higher once these are complete.

The markets have corrected like this several times now during Trump trade negotiations. But after NATO, EU, Canada and Mexico came on board with fairer trade deals for the US, the markets have always corrected themselves and then lurched forward even more.

I am sanguine about this temporary down-turn.

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Response to TM999 (Reply #1)

Wed Oct 10, 2018, 04:41 PM

3. "This was expected."... LOL!!!







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Response to RCW2014 (Reply #3)

Wed Oct 10, 2018, 05:27 PM

6. For those who pay attention yes.

This should not have come to anyone's surprise.

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Response to TM999 (Reply #6)

Wed Oct 10, 2018, 07:37 PM

7. Indeed.



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Response to Troll2 (Original post)

Wed Oct 10, 2018, 03:58 PM

2. This is like your 3rd or 4th posting on the subject

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Response to Solesurvivor (Reply #2)

Wed Oct 10, 2018, 04:42 PM

4. Personally, I appreciate someone actually posting current news events versus the nonsensical tripe

that normally dominates this forum.

Just my preference, of course.

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Response to RCW2014 (Reply #4)

Wed Oct 10, 2018, 05:27 PM

5. One OP is fine.

Multiple is politicized rhetoric and influence.

I am sure your training manual taught you that much.

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Response to TM999 (Reply #5)

Wed Oct 10, 2018, 07:39 PM

8. When you own a forum of your own, make that a rule. Until then I guess you'll

just have to find a way to "deal with it", eh?

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Response to RCW2014 (Reply #8)

Wed Oct 10, 2018, 08:04 PM

9. And when you own a forum of your own

then you don't have to read posts calling out the propaganda, spin, bullshit, lies, hysterics, and manipulative rhetoric.

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Response to TM999 (Reply #9)

Wed Oct 10, 2018, 08:07 PM

10. I don't complain about comments from the peanut gallery now do I? Actually I get

motivated by them.

Please do carry on, indeed!

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Response to RCW2014 (Reply #10)

Wed Oct 10, 2018, 11:49 PM

11. The number of OP's you make attacking America and Israel

is directly proportionate to your level of irritation. This is your way of complaining. Yours is passive aggressive and mine is simply direct.

But hey, you are a liberal so carry on indeed.

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Response to TM999 (Reply #11)

Wed Oct 10, 2018, 11:56 PM

12. And with that, I will carry on...

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Response to RCW2014 (Reply #12)

Thu Oct 11, 2018, 12:04 AM

13. Go get 'em tiger!

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