Dow Sinks More than 900 Points as Delta Variant Fears Hit the Stock Market Hard

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    • #435813
      RCW2020
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      • Total Posts: 604

      By Paul R. La Monica, CNN Business 16 mins ago

      The Dow fell more than 930 points in miid-afternoon trading Monday, a drop of 2.7%. The S&P 500 fell 2.1% and the Nasdaq was 1.6% lower.

      This is shaping up to be the worst day for the Dow since a 943-point drop in late October. But the blue chip market barometer has had several even bigger point plunges since the start of 2020 due to concerns about the Covid-19 pandemic.

      The Dow plummeted more than 1,000 points six times last year, with five of those market meltdowns taking place in March at the start of the pandemic in America. The Dow suffered its biggest point slide ever on March 16, 2020, dropping nearly 3,000 points — a 13% freefall.

      Investors feared that the Delta coronavirus variant could threaten the US economic recovery. Shares of companies in sectors that were widely thought to benefit most from the reopening of the economy are getting hit the hardest.

      Link to source…

    • #435814
      Ohio Barbarian
      Moderator
      • Total Posts: 21,304

      Then I’ll celebrate.

      It is better to vote for what you want and not get it than to vote for what you don't want and get it.--Eugene Debs

      You can jail a revolutionary, but you can't jail the revolution.--Fred Hampton

    • #435817
      Satan
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      • Total Posts: 4,959

      Now on the other horn… the small businesses who managed to survive the pandemic so far, and thought they might be able to resume “business as usual” as the COVID restrictions rolled back after a significant portion of the mortal population was vaccinated. And the people who work for those small businesses.  Those are the people who have sympathy FROM the Devil.

      "Those who make peaceful revolution impossible will make violent revolution inevitable". - John F. Kennedy

    • #435896
      mrdmk
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      • Total Posts: 3,465

      If it were not for the above, better than half of the American corporations would be yesterday’s history 

      If you cannot dazzle them with brilliance, baffle them with bullshit WC Fields

      Warning DO NOT CLICK HERE!
    • #435916
      eridani
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      • Total Posts: 9,653

      You know–selling and buying goods and services.

      Jesus: Hey, Dad? God: Yes, Son? Jesus: Western civilization followed me home. Can I keep it? God: Certainly not! And put it down this minute--you don't know where it's been! Tom Robbins in Another Roadside Attraction

      • #435959
        Ohio Barbarian
        Moderator
        • Total Posts: 21,304

        .

        It is better to vote for what you want and not get it than to vote for what you don't want and get it.--Eugene Debs

        You can jail a revolutionary, but you can't jail the revolution.--Fred Hampton

      • #435974
        doh1304
        Participant
        • Total Posts: 1,632

        essentially nothing. And I like this story, so I’ll tell it again: a financial advisor , then with Chase Bank, told me that whenever the Dow dropped big it was JP Morgan – they use their huge money reserves to pump up a stock then sell, dropping that stock (making a profit from the sale ) then, when the stock rebounds, they buy it back, profiting again. (btw the losers? my guess is pensions, which are required to buy a “profitable” stock and sell a “losing” stocks)

    • #435952
      David the Gnome
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      • Total Posts: 3,147

      The media needs to be reminded again that the stock market is not the actual economy.

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