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Why Did The DOW Drop 600 Points Today

Trump tweeted:

The prospect of Presidential Harassment by the Dems is causing the Stock Market big headaches!

Every single person, with a couple of firing neurons, disagrees.

The market dropped 600 points, because the reality of open market economic cycles, hit. This, of course, one would know, if they have anything more than slogans up their sleeves.

Meanwhile, in the real world:

Apple dropped 5% after hints of a slowdown, based on one of its suppliers, cutting sales forecast, and JP Morgan, cutting Apple target price. That took the tech market down with it.

The US $ is at a 16-month high, due to Brexit fears, which might cause a European economic stall. A strong $ hurts US sales.

Saudi Arabia, signaled, today, that OPEC is going to drop production, causing a rise in oil prices (following a 20% drop, over a very short period of time). This leaves less money in people's pockets, for other things, like iPhones, and dinner and a movie.

Further, the market went up, since the midterms, posting their best showing, last week, since March.

So, upon closer examination, the market did not lose it, because the Democrats won the house.

I expect the Trump SW trolls, to respond with memes, if so, make it on point, else it will be deleted. Be on topic, generally speaking.
SmartKat · 61-69, F
Oh, FFS. The stock market is the ultimate snowflake. If the wind blows the wrong way, it gets disrupted. I wish we would all stop looking to the stock market to measure every blasted thing.
Tech sell off. Many companies are overvalued....
Northwest · M
@Notmesam That's not always a good reason to sell. P/E ratios are out of whack, but they're not in crazy territory yet, especially, if they can show good results and forecast.
isleptinagain · 51-55, F
if it is trumps fault it went down, was it also trumps fault it went up?
isleptinagain · 51-55, F
@Northwest well he is just a silly man, do you expect anything different?
Northwest · M
@isleptinagain
do you expect anything different?

Not really, but he is the President, and a lot of people trust what he says. Some may not have a choice, but if there's a more permanent correction in the works, they may be screwed, if they continue to believe him.
isleptinagain · 51-55, F
@Northwest even if it goes down a couple thousand, its still up, right? trying to explain something so vastly complex, by appointing a single "reason" is super nieve. world economies, politics, trade issues and sentiment to name just a few...… come on.
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