Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By TruthAndLiberty
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Market Pessimism Sets In: Correction or Crash?

% of readers think this story is Fact. Add your two cents.



Truth and Liberty Blog  |  November 21, 2018

Love him or hate him, when Donald Trump became President Elect in November of 2016, a new optimism took hold and the American economy began to buzz again. On Tuesday, November 8th, 2018 – hours before polls closed for the 2016 Election, the Dow closed at 18,332.74. On October 3, 2018, weeks before recent MidTerms, the Dow hit a record high of 26,951.81.

That’s a net gain of 8,619.07 – an incredible 47 percent.

During the ride up I have argued virtually the entire time that such gains are cartoonish and that we would be foolish to believe they are entirely real. I believed from the very beginning that the Trump Economy was being set up for a fall and now many are wondering if that fall has begun.

CNBC recently reported that when Democrats win the House of Representatives, historically the stock market struggles the following year. In the two weeks since the MidTerm Election a wide-ranging pessimism begun to take a hold of markets both domestically and around the globe.

The Dow closed yesterday at 24,462.32, down 956.63 / 3.76 percent since the closing bell Friday. That’s a loss of 2,489.49 / 9.25 percent from the all-time high set just 7 weeks ago.

As of now all 2018 gains have been wiped out.

According to a recent CNBC survey of Chief Financial Officers the Dow is expected to fall below 23,000. This would mean at least another 5.98 percent loss from today or 14.66 percent since the all-time high.

At the very least things have gotten Bearish out there and a correction is underway.

Tech stocks have been hammered in recent days, losing over a Trillion dollars in value based on recent highs. Again from CNBC:

Combined market capitalization losses since their 52-week highs hit $1.02 trillion on Tuesday:

  • Facebook: $253 billion
  • Amazon: $280 billion
  • Apple: $253 billion
  • Netflix: $67 billion
  • Alphabet: $164 billion

It seems likely that at a minimum things are coming back down to earth. From ZeroHedge:

“While there’s still no ‘panic in the streets,’ most traders are unconvinced that the selling will slow down anytime soon,” said Instinent’s head of trading Larry Weiss. “The flight to quality is now a flight to cash. It’s tough to convince anyone that now is the time to put money to work.”

Michael Snyder is willing to take it further:

Many just keep believing that their beloved tech stocks will eventually bounce back because they just can’t accept the fact that the party is over.  At this point, all of the “FANG stocks” have officially entered bear market territory.

Time will tell but it would be wise to plan and prepare today rather than react emotionally tomorrow if things get bad.

Originally Published Here



Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.


LION'S MANE PRODUCT


Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules


Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.



Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.


Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.