2-6-18

The Dow Jones suffered its biggest EVER one-day point drop in history, plunging 1,175 points.

Bitcoin continues to tumble, hitting its lowest point since November. The federal reserves raised interest rates 3 times in 2017. Are we heading toward an economic clasp?

Monday’s stock market dive rattled investors who had been watching the U.S. markets hit record highs. Many are asking if things are looking up on Main Street, why is Wall Street seemingly so panicked?

Investors brace for more shocks after Dow’s historic plunge

Source CBS This Morning     Bianna Golodryga reports.

Dow plummets more than 1,100 points in biggest single-day drop in history

Source ABC News

Stock Market Plunges, Bitcoin Tumbles: Is this Just the Beginning?

Source ShatteredParadise

MORE on this HISTORIC event: 

X22Reports: Oh Snap! Did the Deep State Just Threaten the US With an Event? Plus: Economic System Breaking Down; Unsustainable! (Videos) click here

Australian and Asian stock markets slide after Dow suffers biggest one-day points fall – as it happened

It’s been a chaotic start on Wall Street, says Spreadex financial analyst Connor Campbell.

And with the Dow Jones Industrial Average now down 170 points, it is hard to disagree. Campbell says:

The Dow was all over the place after the bell. With the futures promising the index was going to spill its guts, it was a welcome relief that the index instead quickly shifted into the green. The index is still pretty damn volatile, however…. It’s also worth noting that the Dow did something similar yesterday, ducking an immediate bloodbath only to completely lose its bottle by the end of the session.

Elsewhere, the Vix volatility index has fallen back sharply (ironic, given how volatile the Dow is at the moment).

After hitting a level of 50 earlier, the Vix is now down 33% on the day at 24.7.

The Dow is all over the place. After the initial 550 point fall and the subsequent 350 point rise, the Dow is now up just 50 points or so. What it will close at is anyone’s guess, but the recent falls do seem to have attracted some buyers. Neil Wilson, senior market analyst at ETX Capital, said:

The valuations were certainly looking attractive on a forward earnings basis, providing attract entry points for a number of stocks. Some deep-pocketed funds may have stepped in to hoover up what they could – in this context it looks for the time being like the correction was exactly what the market needed – although we have a long way to go today still and sentiment is still fragile after two bruising sessions.

Updated at 10.22am EST

The White House, and specifically the recent tax cuts, have played a part in the current market volatility, says Royal London Asset Management:

US stock market volatility continues to spike higher as the strongest wage inflation in the US since 2009 triggered fears of faster than expected rises in interest rates. While Donald Trump’s White House has correctly pointed to strong economic fundamentals as a more important long term story and the role of the tax cuts in driving this, they’ve failed to appreciate the impact that their policies could have on inflation, and therefore the path of interest rates.

Royal London’s head of multi asset Trevor Greetham added:

Investors welcomed the announcements of tax cuts but are starting to get second thoughts as the consequences of adding stimulus late in the business cycle become clear. Unemployment is low and the potential for strong wage inflation once US tax cuts take effect has spooked markets, given what this means for US interest rate policy.

Although rising interest rates pose a challenge to the stock market, this will only become a serious one once they are high enough to cause the economy to roll over. With the Fed Funds rate still below the level of core inflation in the US, that could take quite a while.

We expect bouts of volatility like this to become more common now the Federal Reserve is in play, but expect stocks to recover over the coming weeks and months, making recent market moves look like an overreaction.

The early recovery in US markets gives some credence to those who believe the recent falls were a much needed market correction rather than the precursor to a wider sell-off. One of those is Sven Balzer, head of investment strategy at Coutts:

This week’s stock market falls show a much needed market correction after a long period of strong performance, and little more. Global economic growth remains strong and there are no signs of a US recession, which usually heralds a wider sell-off…

In our view, this is a short-term correction driven by technical factors rather than concerns about the underlying economic picture or corporate health. While this can be unnerving for investors, we see a robust economic and corporate environment that should continue to support equities.

Wall Street rally picks up pace

Go Wall Street!

Instead of sinking into the mire, the Dow is now up 350 points, or 1.4%. That means leading shares have recovered around a third of Monday’s tumble.

Although the Dow Jones industrial average gets a lot of attention, serious stock market traders pay more attention to the S&P 500.

That’s because it contains more companies (500, instead of the Dow’s 30), so it’s a better measure of the actual US stock market.

And after an early wobble, the S&P 500 is now positive too — up 1% or 27 points at 2,676 points.

SOURCE the Guardian

#economy #dow #bitcoin #nyse

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