General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWow - that loud sound must have been the stock market bouncing magically back
It was in a deep hole...and ended up.
anyone hear anything about what happened??? (no complaints from me!)
Lovie777
(11,992 posts)Shermann
(7,356 posts)SCantiGOP
(13,856 posts)Some idiot on a forum the other day said that Biden, among his other failures, had overseen the biggest annual stock market crash since 1929.
He didnt respond when I pointed out that all
three major indices were up for the year.
SWBTATTReg
(21,859 posts)markets do something negative; people go crazy and all sorts of crap.
The markets have been going up for a very long time, and thus, do go down periodically.
lamp_shade
(14,796 posts)elleng
(130,145 posts)After a day of frenzied trading, Wall Street recovered from its biggest drop in nearly a year, ending with a slight gain after falling nearly 4 percent and touching correction territory.
The S&P 500 gained 0.3 percent, paring its losses since its Jan. 3 record to about 8 percent.
Earlier on Monday, selling seemed to have triggered a new marker of the abrupt shift in investor thinking this month: The index had fallen more than 10 percent from that record. A drop of that scale, called a correction on Wall Street, is an infrequent occurrence. The last time the S&P 500, the U.S. benchmark, was in a correction was March 2020, when a panic over the emerging coronavirus pandemic gripped global markets.
This downdraft came as investors anticipated the Fed will have to raise interest rates quickly this year as it tries to tamp down inflation, which is at its highest level in 40 years. Its main policy interest rate, the federal funds rate, was slashed to near-zero in 2020 as the central bank took extraordinary measures to shore up the economy as it was hit by lockdowns. Those low rates also helped fuel a massive rally in stock prices.
https://www.nytimes.com/live/2022/01/24/business/stock-market-economy-news#us-stock-market-correction-territory
Mr.Bill
(24,104 posts)was an exercise in finding out how low it had to go to get the buyers to rush in. I'm no expert and have no interest in the stock market but that's how it looked to me.
Shermann
(7,356 posts)Sherman A1
(38,958 posts)Happy Ive been down every day this year so far. Wasnt sure that there was any other color than red.
Thunderbeast
(3,382 posts)Investors wanted in on the narrative.