Dow Sinks More than 900 Points as Delta Variant Fears Hit the Stock Market Hard
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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.
July 19, 2021 at 6:37 PM #435814Ohio BarbarianModerator
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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
July 19, 2021 at 6:50 PM #435817SatanParticipant
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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
July 20, 2021 at 1:36 AM #435896mrdmkParticipant
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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 FieldsWarning DO NOT CLICK HERE!
July 20, 2021 at 5:56 AM #435916eridaniParticipant
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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
July 20, 2021 at 12:13 PM #435959
July 20, 2021 at 2:34 PM #435974doh1304Participant
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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)
July 20, 2021 at 11:59 AM #435952
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