Posted on 08/20/2015 10:33:26 AM PDT by John W
U.S. stocks were seeing a broad-based rout Thursday, led by a selloff in media, technology, consumer and financial stocks as investors wrestled with worries about a slowdown in global growth.
“There is heightened uncertainty that began with yuan devaluation last week, while overall China’s growth is slowing father than thought. This is weighing on confidence,” said Randy Frederick, managing director of trading & derivatives at Schwab Center for Financial Research.
The nervousness on Wall Street was apparent from a jump in the CBOE Volatility index VIX, +16.98% which has gained more than 35% to 17.65 over the past three trading days. Meanwhile, U.S. Treasuries and gold were rallying as investors sought havens.
“Technology and consumer discretionary, or momentum stocks are selling off, because they had performed pretty well recently and so have more room to fall during broader market selloffs,” Frederick said.
The S&P 500 SPX, -1.30% fell 31 points, or 1.5%, to 2,048.27 with nine of its 10 main sectors trading lower, with the exception of the interest-rate sensitive utilities sector, which benefits from a rate hike.
(Excerpt) Read more at marketwatch.com ...
If you didn’t get out when China devalued, you deserve to lose your pants.
I hate it when growth slows that ‘fath’.
get out of what?
DJIA getting close to dropping below 17K
Right now down 250.58 @ 17098.
Trump right again...he is the only one who talks about China manipulating currency.
Besides, I can see a lot of bargain hunters ready to jump in once DJIA drops below 16,000.
I would hazard a guess that the market will bounce tomorrow, at least in early trading.
Can’t go into a week-end with folks afraid to spend money, y’know.
E-mails from Treasury to Wall Street have already gone out by now.
Too many here freak out about a 1.5 - 2% loss. Most should remember that the market was at 15,000 this time two years ago.
DOG and DXD doing well today.
Whoa!..... I just sent an email to my relatives last evening telling what stocks I thought would be good to buy. The next day the stock I own Netflix drops $10 and Amazon drops $14. I am looking at Amazon to do a stock sometime in the next year.
My email led off with:
Get rich with stock tips from ______ or lose your shirt : )
Maybe they outta invest in shirts?
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