New York – After almost 10 years, Wall Street’s rally looks like it’s ending.
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Another day of big losses Friday left the U.S. market with its worst week in more than seven years. All of the major indexes have lost 16 to 26 percent from their highs this summer and fall. Barring huge gains during the upcoming holiday period, this will be the worst December for stocks since 1931.
On Friday:
The S&P 500 index surrendered 50.80 points, or 2.1 percent, to 2,416.62.
The Dow Jones Industrial Average tumbled 414.23 points, or 1.8 percent, to 22,445.37.
The Nasdaq composite skidded 195.41 points, or 3 percent, to 6,332.99.
The Russell 2000 index of smaller-company stocks shed 33.92 points, or 2.6 percent, 1,292.09.
For the week:
The S&P 500 lost 183.33 points, or 7.1 percent.
The Dow fell 1,655.14 points, or 6.9 percent.
The Nasdaq plunged 577.67 points, or 8.4 percent.
The Russell 2000 gave up 118.73 points, or 8.4 percent.
For the year:
The S&P 500 is down 256.99 points, or 9.6 percent.
The Dow is down 2,273.85 points, or 9.2 percent.
The Nasdaq is down 570.40 points, or 8.3 percent.
The Russell 2000 is down 243.43 points, or 15.9 percent.
TrumpsCRASH is The 2nd largest crash in $ in HISTORY. The biggest is under Bush. OBAMAMA and CLINTON increased the DOW over 500%
Not surprised at all. This men Bankrupted 27 Company’s before leaving tens of thousands without jobs. Trump Airlines, Trump Vodka, Trump Stakes, Trump University, Trump Neckties, Trump Casinos… Billions lost. he will go to Florida. Nice and warm VACATION when the Stock Market is in a FREE FALL and the Government is shut down because he cant Govern. All off this at a time the republicans are total control. Art of the Deal = Trump FIRST, America Last. People lost their Life Time savings, jobs and he is going to Mar A Lago.
Archy says this is just a dip, so don’t worry
Thank you Donald Trump
It’s funny how Obama took credit for the stock market for 2 years after he was out of office now wants nothing to do with the market.
The market dropped way more under Obama in 2009, Bush in 2001 after 9/11 and Clinton in 2000 after the dot com era crashed.
I told you a year ago the Trumf economy will be crashing and to bail from the market and invest in bitcoin. You should have listened.
Let all the greedy rich people lose their money gambling in the market. The stock market is no different than playing blackjack in Vegas.
As I mentioned last week the Saudi market is still positive year to date.
This has nothing to do with the president, this is all the Fed’ doing. Losers like Hashomer love to blame this on the president, yet up until 2 months ago he credited the huge
stock market gains since election day 2016 on Obama. Sorry Hashomer you can’t have it both ways. The Fed didn’t raise rates under Obama for good reason, the economy wasn’t strong enough to handle it. Now the fed wants to put the brakes on a strong economy. It’s a shame this is cause the economy to go into a tailspin.
The market was doing fine until election day 2018 then the market went south. What happened on election day 2018 you might ask? The dems took control of the house. This is no coincidence that it dropped. Look at how the market went when the republicans had controlled of the House under BOTH Obama and Trump. When the dems control the house the market tanks. Sorry Hashomer
85% of the country received a tax cut. The rich people living in liberal states like NY and California will lose some of their dedications. Big whoop. Do you think we living in one of the smaller cities care that NY deductions are capped or that their 401k balance went down? Honestly not really. With this tax cut Trump helps all of us less fortunate out not just the rich people living the life in NY, working on Wall St or Silicon Valley.
From election day 2008 when Obama was elected into office until March 2009 the market dropped 35%. THIRTY FIVE PERCENT. That is unheard of. Thank goodness President Bush instituted tax cuts and policies that helped us get out of the recession. Otherwise, who know how far the market would have fallen under Obama.
What’s the big deal the market dropped? it goes up and down all the time. Did you panic in 2007-2009 when the market was slaughtered? Or did you hold the course and use it as a buying opportunity? I hope you chose the later option. If you held tight you probably would have quadrupled your money since then.