“Last week the Dow lost 1,655 points, or 6.8 percent. That was the Dow’s worst week of trading since October 2008 during the financial crisis. The S&P 500 also lost 7 percent for the week and is now down 17.8 percent from its record reached earlier in the year. Wall Street traditionally considers a drop of 20 percent or more from recent highs to be a bear market… The Nasdaq Composite is now 22 percent below its record reached in August and is in a bear market.”
Trump seems determined to scare the ■■■■ out of the market by publicly trashing the fed. Smart!
Wonder how long Powell can last at this rate, as Trump is sure to look for something to blame, other than his giant mouth and the constant chaos he creates.
Treasury Secretary Mnuchin’s decision to call the top banks yesterday is backfiring splendidly. And supposedly he is calling the top Investment Firms today. God help us all.
They are reporting that this is the worst December since the Great Depression. Trump has always treated the market as a report card on his presidency. So I am scared that he might make some radical moves. He certainly did not listen to the warnings about doing a trade war with China, which I think is a major factor steering the market.
