Posted on 01/07/2016 5:27:30 AM PST by WhiskeyX
China clobbered global equity markets yet again, sending U.S. equity futures into freefall.
As of 8:05 a.m. ET, Dow Jones Industrial Average sank 367 points, or 2.18% to 16470. S&P 500 futures dropped 43 points, or 2.19% to 1942, while Nasdaq 100 futures tumbled 124 points, or 2.80% to 4322.
Today's Markets
In China, the trading day was over just as it began thanks to a swift selloff. For the second time this week, Chinese equity markets tripped their newly-installed "circuit breaker," or mechanism used to prevent panic selling, just 30 minutes into the start of trade.
The moves led to an accelerated pace of selling across the world as the Chinese yuan slipped further, to a five-month low.
(Excerpt) Read more at foxbusiness.com ...
down 400 right now
Not to worry, Obozo is planning another Gun speech.
Pray America wakes
I will be checking my bank deposits at Sealy & Posterpedic.
China is no longer able to play the smoke & mirror act to hide the truth. And here is the really scary part, they own so much of our debt, if they totally collapse, we go down with them. And for the really scary & over the top. We still have Obama and the RINO's controlling Washington DC for at least another year.
Slow (or maybe not) way to ruin retirement for a nation, and bankrupt everyone. Thanks Boz.
Don’t get a waterbed or it will all be under water. ;-)
The reality of the Central Banks ending the era of “free money” is not a pretty site for the hogs who have been gorging themselves at the government trough for the past 7 years.
In the USA alone Obama has mortgaged our future by at least $10 trillion so the hogs could get fatter. And our Central Bank counterparts throughout the world have been doing the same.
The real value of the Dow Jones is probably around 8000 without the Fed’s free money.
Sometimes things are real simple. The reason China’s export economy is way down is because there is a serious worldwide recession. There is much less demand for their products and hence much less manufacturing. There is a glut of oil and other industrial commodities, their price are weak, because they are not in high demand or being consumed. Eventually despite financial gimmickry the price of stocks reflects economic reality. Also if anyone accepts economic statistics released by Federal agencies controlled by Obama commissars for the past seven years, they are a bit intellectually challenged. The stock decline is also being made worse by the Saudis selling big portions of their portfolio. They are very cash squeezed with the oil price decline and their huge ongoing commitments.
There goes my 401k. Again.
The ironic thing about off shoring our factories, when there is a slow down it has little effect on employment BECAUSE WE ALREADY LAID OFF OUR INDUSTRIAL WORKFORCE.
So in essence, and by design, the USA is in a permanent recession.
How do you think the US economy would be doing now if the off shoring of factories had not happen? We forced this situation on the US economy, it was unnecessary.
Go Trump.
You mean your 200.5K? ;-)
“There goes my 401k. Again.”
Move it over to cash for awhile? Some of the 401K broker/banks offer an option to move some or all of the balance out of securities (stock) and into cash or other investment. They may or may not make a safe harbor while the stocks are plummeting. The gotcha is usually a requirement that the balance cannot be moved again for a period of time (30, 90, 180 days).
That’s what I did - moved everything out of the market and into cash accounts. Thankfully, I did it when the Dow was at 18,100, back last summer. Not sure what I’d do now, move it or wait it out. I’m thinking that if Trump is elected, time to get back in.
Not funny.
Disagree. I believe on capitalization it is more in the 5-6K range. But at 8K I might start fishing,
My funds weren’t hit as bad as many, but just moved everything into a ‘safe haven’ fund, that isn’t tied to the market.
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