Skip to main content

Stock Market Gains For 2018 Vanish — Dow Industrials Plummet Nearly 500 Points

By: Mark DeCambre and Chris Matthews
Market Watch


U.S. stocks fell sharply Tuesday, extending a pre-Thanksgiving rout that has been fueled mostly by a selling in shares of technology and internet-related companies.

Sharp declines in Target and Lowe’s after disappointing earnings also contributed to the tone.

U.S. financial markets will be closed Thursday for the Thanksgiving Day holiday and see an early close Friday.
How are benchmarks performing?

The Dow Jones Industrial Average DJIA, -2.10% fell 500 points, or 2%, at 24,516, and tumbled by as many as 596 points or 2.3% at the session’s lows.

The S&P 500 index SPX, -1.75% was down 45 points, or 1.7%, at 2,644, while the Nasdaq Composite Index NQZ8, -1.87% was off by 114 points to 6,913, a drop of about 1.6%.

The drop erased year-to-date gains for both the Dow and S&P 500, while the Nasdaq was clinging to a narrow gain for 2018.

Monday’s decline resulted in the S&P 500 and the Dow’s worst start to a Thanksgiving week since 2011, while the Nasdaq registered its worst such start since 2000, according to Dow Jones Market Data.

Read the rest at Market Watch.


CNBC: Tech's 'FAANG' stocks have lost more than $1 trillion and counting from highs amid tech rout

CNBC: The Dow may drop another 2,000 points before the stock market selling is done: CNBC CFO survey

(THL) Earlier in the month I ran a poll on Twitter asking, "Do you think the stock market is overvalued?" and 77% of my followers who responded called it right:


Popular posts from this blog

Tax Bill Is Beginning of Formal Debt Criminalization

The noose is tightening on liberty. The United States Congress is steadily headed to a place where those who owe money to the US government shall be treated criminally. This phenomenon is advancing domestically and now, increasingly, internationally. The first shot in this latest campaign took place in 2010 when US President Barack Obama signed into law The Foreign Account Tax Compliance Act. It demanded, basically, that foreign banks withhold up to 30 percent of the income that an American abroad might earn. This bill isn't working so well because overseas banks are not cooperating (a state of affairs that was certainly expected). Thus, there is a need for something else: Senate Bill 1813, recently introduced by Senator Barbara Boxer (D-CA). This bill, in part, states that taxpayers with unpaid taxes over US$50,000 may find their passports confiscated. This isn't criminal per se, but the IRS has recently made noises about "sharing" information with police a...

Thomas Sowell Returns

By: Thomas Winslow Hazlett Reason

How To Cripple The Real Estate Market In Five Easy Steps

If the government and the banks had just allowed real estate prices drop to market equilibrium, we'd be out of this mess and housing would truly be affordable. But the government is determined to artificially prop up housing prices, whatever the cost to the economy. If you were head of Central Planning (howdy, Ben!) and were tasked with crippling the real estate market, here's what you would recommend. Choke the market and banking sector with zombie banks... Have the central bank (the Federal Reserve) buy up $1 trillion in toxic, impaired mortgages... Lower the rate that banks can borrow from the Fed to zero, and then pay the banks interest on all funds deposited at the Fed... Try to prop up the housing market by giving poor credit risk buyers loans with only 3% down... Load young people up with the equivalent of a mortgage in student loans... OK,let's see how our Organs of Central Planning are doing: check, check, check, check, check: a perfect score! they're...
–––As Featured On–––