Trump fucked up big.
So big he forced a Dow sell off. Many of those rich gamblers were hoping for more tax cuts. Now that they see that won’t happen they are getting out of the big sticks and seeking safer havens.
The news is arguing that the stock market is the economy. It’s not.
Wall Street has never been Main Street. They drill that in your head in Economics.
https://www.cnbc.com/2024/07/31/stock-market-today-live-updates.html
@feloneouscat But Wall St. is my 457(b), so those fuckers best cut that shit out.
Same here.
Most of Wall St is made up of gamblers. Buy low sell high. So “corrections”’are best taken with a grain of salt.
All it means is gambles did or didn’t play out. Wall St is no modern day Cassandra. It also took a dump prior to Biden and everyone was predicting RECESSION.
It didn’t happen.
SOOO MSM can’t keep their stories straight. Either it’s the FUTURE President’s fault or the current one.
Since the current one isn’t running, it must be Harris’ fault. 🙄
“Whenever Treasury yields have been rising, those moves tend to correspond with greater confidence about a victory by Trump.”
Total and absolute bullshit.
They rise when people feel there will be a slump in the market. Treasury notes are SAFE places when the market is volitile (like under Trump).
It’s a confirmation that Trump is a disaster for the market.
“The same connection between political developments and bond-market moves didn’t exist prior to a month ago”
Hmmm
@LiberalLibrarian
At the time they blamed the slump on Trump (which is interesting because every time there was a rally, they reported it was due to Trump).
“Still, Wednesday’s plunge in the Dow can’t be helping Trump’s chances, even amid rising hopes that this recession will be brief. In fact, the government is expected to report Thursday morning that gross domestic product in the third quarter bounced back sharply.”
https://www.cnn.com/2020/10/28/investing/recession-stock-market-election-trump-biden/index.html