Everybody has watched as the stock market has rallied and Rallied,,and RALLIED while the rest of America was looking over its shoulders with masked faces…
Jobless numbers at record levels….
US Government speaking money it doesn’t have….
A re-election vote coming in two months that seems like it’s gonna send the rich people’s main man out of his job…
The market is going crazy GOOD?
(Tech Stock’s like Zoom?…Which dropped almost 10% in todays trading)
Did some people wake up today and say WTF😳????
The S&P 500 had its worst day on Thursday since June 11, falling 3.5 percent, and the same big tech companies that have driven the recent rally were the culprits.
A day after stocks marched to another record high, Apple tumbled 8 percent, its worst drop since March. Amazon fell almost 5 percent, Microsoft more than 6 percent and Google’s parent, Alphabet, 5 percent.
William Delwiche, an investment strategist at Baird, a financial firm in Milwaukee, said investor optimism had driven share prices up — perhaps higher than investors were comfortable with, considering the serious economic challenges still posed by the coronavirus pandemic.
Despite continued high unemployment and a weak outlook for corporate profits, stocks on Wednesday had posted their ninth gain in 10 trading sessions, and the tech-heavy Nasdaq composite index joined the S&P 500 in reaching an all-time high.
“The market had gotten ahead of itself and had gotten ahead of the economy, and I think this is a little bit of a reflection of that,” Mr. Delwiche said.
Stocks fell from the opening bell on Thursday, dragged down by the tech companies that hold significant sway over the index by virtue of their size. What started as a slight slump soon accelerated — partly because of some of the speculation and options trading that had helped send shares upward.
By the time the market closed, more than a week’s worth of gains had been erased….