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In reply to the discussion: Dow sinks 700 points as Delta variant fears hit Wall Street hard [View all]getagrip_already
(14,736 posts)The stocks available to buy came from institutional investors. Different group, different rules. Short sellers were doing the buying for the most part.
Yes, it was unusual. But it was all allowable under the rules. The same rules that allow after market sales. The same rules that allow brokerages to prioritize buy and sell orders so their orders move first.
But that is all just plumbing. The structure is what is rotten. Like a ponzi scheme, everyone is fat, dumb, and happy while money comes in. Eventually though, it will want to flow out (what will happen when all the boomers start liquidating stock portfolios? What will the impact be as fewer and fewer workers have 401k's or enough income to salt some away?).
Stocks rise as money pours in, not as companies perform better. It is a market based on money flow, not intrinsic value.