OT - Dow plunges 1,175 - worst point decline in history

[KarlC]

Dow plunges 1,175 - worst point decline in history

http://money.cnn.com/2018/02/05/inve...nes/index.html


This is why the Dow is plunging

http://money.cnn.com/2018/02/02/inve...ex.html?iid=EL

[BdaGhisallo]

Point drop is not important - percentage drop is what you should track.

The 1929 crash that spawned the Great Depression was only about 180 points.

[kppolich]

Originally Posted by BdaGhisallo

Point drop is not important - percentage drop is what you should track.

The 1929 crash that spawned the Great Depression was only about 180 points.

agreed, % drop is where it's at. Not a whole lot to see here except the first "big" losing streak in a long long long time.

[adub]

CNN has been announcing all afternoon "Largest Single Day Point Decline Ever"

I guess just calling it what it is in actual terms does not have such a captivating (AKA; Trump bashing) headline..

[makoti]

Originally Posted by adub

CNN has been announcing all afternoon "Largest Single Day Point Decline Ever"

I guess just calling it what it is in actual terms does not have such a captivating (AKA; Trump bashing) headline..

Because it IS the largest point drop. That's fact. Is it as bad as prior drops? Maybe not, but it SOUNDS worse. Can't see stating facts T-bashing.

[adub]

Originally Posted by makoti

Because it IS the largest point drop. That's fact. Is it as bad as prior drops? Maybe not, but it SOUNDS worse. Can't see stating facts T-bashing.

Ya and during the hurricanes CNN was reporting the total rainfall in Millimeters rather than inches..

The "news" is all about making things seem worse than they are, the CNN headline is a prime example.

[OtayBW]

Originally Posted by adub

Ya and during the hurricanes CNN was reporting the total rainfall in Millimeters rather than inches..

The "news" is all about making things seem worse than they are, the CNN headline is a prime example.

I dont really care if they reported it in furlongs per fortnight; it's a darn sight better to me than some of the other options that I could think of...

Sent from my SM-G935V using Tapatalk

[oldpotatoe]

Originally Posted by adub

CNN has been announcing all afternoon "Largest Single Day Point Decline Ever"

I guess just calling it what it is in actual terms does not have such a captivating (AKA; Trump bashing) headline..

Well if trump is responsible for Dow records, so he’s also responsible for this drop...neither of which is true, of course.

[Louis]

Originally Posted by oldpotatoe

Well if trump is responsible for Dow records, so he’s also responsible for this drop...neither of which is true, of course.

It's the Dems fault because they didn't clap for him during the State of the Union address.

[soulspinner]

Originally Posted by Louis

It's the Dems fault because they didn't clap for him during the State of the Union address.

[Tony T]

The breaking of the 50 day MA was not a good sign.

[likebikes]

i think it's related to the super bowl yesterday rather than anything else.

we used to have a dedicated "stock market watch" thread, but too many OT posts and troll posts in it got it shut down, shame.

[Tony T]

NYT: Context Matters. The Stock Market Drop Is Less Scary Than It Seems

If measured by news headlines, you might assume these are dire times in the financial markets.
—-
This market decline so far has returned the market roughly to its level in mid-December, less than two months ago. The 7.8 percent drop in the Standard & Poor’s 500 over the last six trading days is similar in scale and speed to drops in January 2016 and August 2015, neither of which left lasting scars, and is short of the 10 percent drop that would qualify as a market correction.
—-
The Dow fell by 1,175 points Monday, which represents a quite large 4.6 percent decline. But while it was the biggest single-day point decline, there were steeper percentage declines on several occasions during the global financial crisis and its aftermath, not to mention the 508- point drop in the Dow in 1987 that represented a 22.6 percent market crash.
—-
The S.&P. 500 did not decline by more than 2 percent on a single trading day in all of 2017, which helps explain why Friday’s 2.1 percent drop seemed so startling. (The percentage drop on Monday was a much rarer event, one that last occurred in 2011.)
—-
But regardless of which it becomes, it’s good for everyone’s mental health to look beyond the day’s headlines and focus instead on percentage changes instead of point changes — and on historical patterns and the “why” behind the day’s drop in the markets.

[Tony T]

….but so far tomorrow looking like the decline will continue:
FUTURES FAIR VALUE (377.75)
Fair Val Close Cur Future Change
24315.75 23468.0 -847.75
Last Updated: Mon, 5 Feb '18 | 9:05 PM ET

[54ny77]

Damn I hate it when program traders use algorithms that feed off each other and create an endless negative feedback loop.

Kinda like Shimano vs. Campy vs. SRAM thread.