Skip to comments.Dow tumbles 300 points on weak data
Posted on 02/03/2014 12:38:51 PM PST by Signalman
February is looking an awful lot like January for investors. Emphasis on awful.
The Dow tumbled more than 300 points Monday afternoon, or almost 2%, after a much worse-than-expected reading on manufacturing activity. The S&P 500 and Nasdaq were down more than 2%. CNNMoney's Tech 30 index was also down sharply.
Investors were disappointed after the Institute for Supply Management's monthly index showed that manufacturing activity last month expanded at its weakest pace since May.
The bad news comes as investors are still reeling from a rough January. Disappointing earnings and volatility in emerging markets sent stocks sharply lower during the first month of the year. The Dow tumbled more than 5% last month -- its worst January since 2009.
(Excerpt) Read more at money.cnn.com ...
Jack Lew spewing his vile comments about the US not meeting its obligations by the end of the month couldn’t have been helpful...
I wish I bookmarked last week’s thread that had the photo of the terrified people on the rollercoaster with their eyes popping out. I am one of them until I can sell a rather large hunk of shares as a long term gain... next week.
Don’t blame Jack, you have to know by now it’s BUSH’s FAULT!!
If only Fox News would refrain from reporting about it, it wouldn’t be a problem.
Any why is Wall Street surprised by any of this?
The economic plan of tax, borrow,print, spend, and regulate productive capitalism to a standstill was never much of an economic plan.
The stock market goes up, the stock market goes down. It moves more than it should, because investors are human and become euphoric on the upswings and scared on the downswings.
If you are not detached enough to use this knowledge to your advantage, you shouldn’t be in it.
We done been Bush whacked!!!
Lew’s remarks were pretty pointless as we all just KNOW the Pubbies are gonna cave on this anyway.
Monopoly® money can only buy so much fake real estate.
Yep, it is all part of the theater.
Also, margin debt is at a record high. This will cause a panic among
margin investors to sell while they can when the debt is called in.
Yea, we know, Truth is never helpful.
I’m surprised it isn’t plunging faster...
They must not have decided to stop the music yet.
Worst January for the Market since 2009 and the first day of Fevuary trading it is down 330 points.
Yeap Pretty sure it’s BUSH’s fault!
Guess it’s time for the Fed to consider Quantitative Easing.
Just had the radio on and they are officially blaming......wait for it.......BAD WEATHER.
don’t worry.....zer0 will have more monies printed....and Wall street just loves it.....
of course they don’t seem to care about the inflation. I gotta buy gold...
Wait till all the Rubes that thought the had Free Health care are shocked, Shocked I tell you that they either don’t have coverage because they ignored the Invoice the Insurance Company sent them or they get a bill because the Coverage they do have has a 6-8 Thousand Dollar Deductable and a large co-pay.
What was the weather like in Dec ‘08? That was the last bad January for the market, right?
How long until the IOU’s go out instead of $$$ for tax refunds?
If the economy tanks, Obama will lose the senate in a landslide.
Is there a website tracking how many bankers have now committed suicide?
We’ll send em IOU’s for leaving their lands after we freed them.
Maybe we’ll send food stamps or just send food, since no one seems to be able to feed themselves these days.
If we stopped sending for only one week, Egypt would explode.
If we stopped sending food to China, same thing.
If we stopped sending food to Cuba, Mariana Boat Lift Part Duex....
I notice my 401k was not happy the morning after the SOTU speech.
And this is just what happens when the Fed THREATENS (they haven’t actually done it, yet)to pull $10 Billion of the $84 billion a month (QE-Forever)in banker handouts away from the party....
Blah. Blah. Blah.
The market now should have dropped like a rock a long time ago, propped up beyond all rational excuses to do so other than political. Both sides of the isle were hoping it would last after November without a major correction I believe, it will be interesting to see what is done to keep it up until then.
Bad weather is killing our business in January... UPS/FDX and a lot of other transports are also hit.
So we got a generous check as a Christmas gift. Can anyone tell me when the correction will be over so we can invest it?
If there ever will be a good time again.
The economy has sucked for years, although it now appears that the hot air that emitted by Obama’s minions is losing it effectiveness in keeping the market aloft.
Expect the Administration to lean even more heavily on the brokerage houses to rein-in the selling. Can’t have a bad stock market while the half-African prince occupies the White Hut.
If your cars in good shape, Buy the next round of tires now. If you do your own, oil filters, and a few cases of oil when on sale.
Look around the kitchen. Any appliances going to need replaceing in the next couple years.
How about fuel? Buy next winter’s fuel at this lower prices this spring. (And buy an extra tank to store more on hand)
Firewood? Buy extra chains and cases of oil.
Maybe the market is sensing the synthetic reality of 0bama’s “mystique” is rapidly coming to an end and the synthetic reality of high stock prices (the good only thing about his reign) are also likely to fade.
No doubt, we would like to see this fool erased from his throne, but to think that there will not be pain in the process is probably naive.
Excellent advice. Inflation is coming. A nation cannot print money without inflation following.
The economy ha been tanking for the past 5 years.
Invest in ammo.
We are primed for a collapse again. Margin debt is stratospheric and the gains in the stock far outpace anything in the real economy. Same with EM’s. The unwind could get messy or worse than messy.