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Dow tumbles more than 650 points in midday trade

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posted on Oct, 11 2018 @ 02:08 PM
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Full Title:Dow tumbles more than 650 points in midday trade as stock-market rout gathers steam Thursday

Yesterday I made a thread about the DOW's 800+ point drop: DOW Sinks Over 800 Points Today; Futures Down Over 1,000 for Tomorrow

Well, it appears that yesterday's woes in the markets have continued, as global stocks went down (Tokyo's NIKKEI dropped over 900 points, losing about 4% of its value, Italy's market dropped 1.84%, etc.). NASDAQ is "flirting" with correction territory between yesterday and today.

Wall Street's "Fear Index", the VIX shot up over 28 (hovering above 26 now): Wall Street's 'fear index' briefly jumps above 28, marking its highest level in 8 months as Dow tumbles nearly 700 points

Interestingly, US treasuries caught a bid and have gone down a bit (otherwise I believe the selloff would be much worse).

There's still an hour left of trading in the day, and all of tomorrow


[Cue heavy breathing sound]:


Will the market shake it off or are we going to see panic/contagion continue and accelerate? Would love to hear your thoughts ATS
edit on 11-10-2018 by FamCore because: (no reason given)




posted on Oct, 11 2018 @ 02:13 PM
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a reply to: FamCore

I am kicking myself in the rear for not transferring my 401k into bonds Monday.

Now I am along for the ride it appears.



posted on Oct, 11 2018 @ 02:17 PM
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I swear I’m in just the right mix of people. Every time I hear gold is about to nose dive, and I finally take note, that’s the moment I should go buy gold. I’m in just the mix to hear the disinfo.



posted on Oct, 11 2018 @ 02:24 PM
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a reply to: infolurker

Perhaps the "plunge protection team" has stepped in. DOW was down like 700 now it was just down like 250-300 range and staying around there at the moment. Swinging around a bit still though



posted on Oct, 11 2018 @ 02:24 PM
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a reply to: FamCore

Going back up!

C'mon Fed Plunge Protection Crew.... get this crap back up to 26 so I can move to safety!



posted on Oct, 11 2018 @ 02:25 PM
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a reply to: FamCore

I hope it isn't a bumpy ride ahead...



posted on Oct, 11 2018 @ 02:27 PM
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I predict it will rally near yesterday's close, but will drop again tomorrow.
edit on 11-10-2018 by loam because: (no reason given)



posted on Oct, 11 2018 @ 02:33 PM
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See it live here


edit on 11-10-2018 by Indigent because: (no reason given)



posted on Oct, 11 2018 @ 02:41 PM
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a reply to: Indigent

Google: Dow Yahoo for real time chart.

finance.yahoo.com...

down 364 right now.



posted on Oct, 11 2018 @ 02:50 PM
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Another pre planned sell off to # the consumer.
a reply to: FamCore



posted on Oct, 11 2018 @ 02:51 PM
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interest rates will go back down



posted on Oct, 11 2018 @ 02:59 PM
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DOW is down 2.11% or 540 points with 30 seconds left in normal trading hours. Yesterday it continued into after hours though. Tomorrow will be an interesting day

edit on 11-10-2018 by FamCore because: (no reason given)



posted on Oct, 11 2018 @ 03:01 PM
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a reply to: FamCore

it's been trending down all month could be nothing or it could be people getting ready for the mid terms



posted on Oct, 11 2018 @ 03:06 PM
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Look at the 5 year charts and relax. I can, I moved into bonds sometime back.



posted on Oct, 11 2018 @ 03:11 PM
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a reply to: FamCore

Yeah someone ordered a B/S headline to be released so the execs can make up for some of their losses...

www.zerohedge.com...

"quick someone say Trump and Xi are bff's i already put a down payment on my 3rd yacht, and i'll be damned if i have to sell my diamond encrusted Ferrari to pay for it"



posted on Oct, 11 2018 @ 03:17 PM
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a reply to: toysforadults

This downturn looks like it is following the "double top" trading pattern.
Technical trading patterns are based on tried and true market and gambling psychology.
We don't have the overhang of real estate mortgage default today that we had back in 2008, but we do have safe haven fixed income options that will likely go to 4.5% yield.

Historically at least since the 70's worst case bear markets don't last more than 2 years before the indexes make new highs again.
Theoretically you could enjoy a worry free CD for 2 years and get a 3% yield instead of a dividend with an unknown price target.

The only thing for sure is that the money managers were able to choreograph a summer rally in stocks despite a 45% reduction of investment capital from their customer base. That goes completely against common sense supply and demand but makes perfect sense with the right market psychology. Even at the casinos gamblers typically don't cash out when they are ahead.


Dow close 25,052.83 -545.91 -2.13%

edit on 11-10-2018 by Cauliflower because: (no reason given)



posted on Oct, 11 2018 @ 03:18 PM
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This is all happening because the Deep State FED bankers are making ridiculous interest rate adjustments before the November election in order to influence the voting. It has zip to do with the actual market and has everything to do with manipulation by both the media and the FED.

As always, I will be buying while others panic. The only surefire way to make money is to do the opposite of what the herd does and this will be no different. Buy on the dips and never commit all your funds for one purchase. It is best to by incrementally rather than try to time the market.



posted on Oct, 11 2018 @ 03:22 PM
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a reply to: FamCore

Prediction or Fear? Maybe both.


Dow 40,000 is coming, but only after ‘a large panic event’ passes, analyst warns

www.marketwatch.com...



posted on Oct, 11 2018 @ 03:34 PM
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On a positive note Jeff Bezos lost nearly 10 billion dollars yesterday. Sadly he is still worth $145 billion and still an asshole.



posted on Oct, 11 2018 @ 03:49 PM
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a reply to: Metallicus

But really you're talking about Amazon's stock price taking a hit, correct? Did Bezos really take a recognized loss of $10B, or is that just on the books because of his share holdings?



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