Skip to comments.US stocks tally steep losses on global growth concerns
Posted on 01/23/2014 9:02:27 AM PST by John W
U.S. stocks declined sharply on Thursday, with the Dow extending losses into a third session, after measures of U.S. and Chinese manufacturing disappointed and as Wall Street considered quarterly reports from companies including McDonald's and Netflix.
Wall Street's drop stems largely from worries about China, "as far as economic growth is concerned, and the potential for it to lead to pressure on loans they have outstanding; that's weighing on the market," said Robert Pavlik, chief market strategist at Banyan Partners.
And, "earnings season is not proving all that much help right now. It's not terrible, but it's not outstanding. People are looking for this long overdue correction, so this is early kindling to that potential fire," Pavlik added.
(Excerpt) Read more at cnbc.com ...
The cheerleaders at CNBC get a dose of reality.
Gold gets explosive above 1270. Watch out.
With the US $ coming under pressure, the potential further gold gains is high and rising. 1270 IS KEY. A break of the 1270 pivot should be the catalyst for short squeeze higher, exposing the confluence of resistance between 1362/1399
You mean the reality we have already been feeling?
LOL—Thanks for reminding me that I haven’t posted a Bill Fleckenstein column for a long time.
Down 185.42(1.13%) 2:59PM EST
Propaganda. China is expected to top 7% again, and the manufacturing is actually taking place on Chinese soil (as differentiated from U.S.-”based” manufacturing on Chinese soil).
The real concern is U.S. decline. The Canadian central bank, for example, made another currency war move against the U.S. yesterday, expecting to export more to the U.S. with a cheaper rate after the recent U.S. retail loss. It won’t happen, because American buying power is about to plunge even more for lack of sustainable revenues due to declining manufacturing on U.S. soil (not counting U.S.-”based” manufacturing on foreign soil).
The banksters have been propagandizing that the Chinese economy is crashing since 2007, BTW.
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