4 ms·
Dow Plunges 1,175, the Biggest Point Drop in History
- crb002 9y ago#TrumpAndDump
- ben_w 9y agoI doubt it. Much as I dislike him, even after this news, this specific market is up a lot since he took office.
- tdhz77 9y agoThe stock market is not the economy. Trump doesn’t get any credit for anything.
- bb88 9y agoNo, but it is an indicator of how rich people feel about it. When they feel good about something they invest in it. When they don't they invest in gold, or something else.
- seabird 9y agoOf all of the intentionally myopic takes on the Trump economy so far, this one grinds my gears the most. Yes, it is factually correct to say that there's economic activity outside publicly traded companies. However, the stock market is an effective gauge of investor confidence and a sign of the overall economic climate. It's delusional to try and act like the huge shift in stance toward big business and tax reform hasn't roused some executives to aggressively expand. To take things to extremes for the sake of illustration, you could also say that violent suppression of a specific religion under an authoritarian regime doesn't describe the human rights stance of that regime. Is that possible? Yes. Is that likely? Not very.
- ben_w 9y agoAgreed — I’m not crediting him. I’m also not blaming him. At least, not for this specific story that this particular thread is commenting on; there’s plenty I do blame him for.
- sctb 9y agoDrive-by inflammatory political hashtags are like, not what we're here for. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html
- zitterbewegung 9y agoThis is a dupe of https://news.ycombinator.com/item?id=16311632 https://news.ycombinator.com/item?id=16311632
- bb88 9y agoBut this one doesn't require a login to the WSJ to read it. Edited to add: Are you sure you weren't happy that your story was marked as a dupe? https://news.ycombinator.com/submitted?id=zitterbewegung https://news.ycombinator.com/submitted?id=zitterbewegung
- zitterbewegung 9y agoI didn’t know if we were treating npr and CNBC as the same I guess I was mistaken sorry .
- bdhess 9y agoErm, the other one is CNBC...
- deleted 9y ago[deleted]
- ausjke 9y agoSo, finally the correction comes? remember the 2000, then 2008, now it is already passed the 8 year mark, I guess it's finally here...
- rubicon33 9y agoYea, it comes just 1 week after I finally relent, and invested a large some of money which was "waiting" for this very correction. So, guys, next time you want the market to drop just let me know and I'll invest some money. FML.
- Redoubts 9y agoYou only lost a month's worth of "progress", the dip doesn't seem like a big deal unless you wanted to sell something today.
- komali2 9y agoWhat kind of sum? Were you doing dollar-cost averaging? This kind of shit stressed me out so much to "track" I gave up entirely. Not like I'm ever pulling it out anyway. edit: https://www.investopedia.com/terms/d/dollarcostaveraging.asp https://www.investopedia.com/terms/d/dollarcostaveraging.asp
- cgb223 9y agoI felt the same way so I just started investing a litte each month instead That way it all kind of averages out instead of trying to time the market
- 8ytecoder 9y agoIt's impossible to time the market. If you are a value investor and see a stock that's undervalued, it's perfectly ok to invest as much as you want right away. In all other case, investing regularly and over time averages the cost. Holding on to it for a long enough period of time gives a consistent and better return.
- ausjke 9y ago
- fleitz 9y agoIf you go by percentages it's about 20th... https://en.wikipedia.org/wiki/List_of_largest_daily_changes_in_the_Dow_Jones_Industrial_Average#Largest_percentage_changes https://en.wikipedia.org/wiki/List_of_largest_daily_changes_...
- myth_buster 9y agoThink this is relevant https://www.npr.org/sections/money/2017/01/04/508261371/episode-443-dont-believe-the-hype https://www.npr.org/sections/money/2017/01/04/508261371/epis...
- fleitz 9y agoYes, for some reason in a stock market index, it's more important the absolute dollar value of the stock than the market cap for weighting. It's also important to use 30 stocks based on 'I dunno' ️
- padobson 9y agoI agree with the premise, but the Russel 2k[0] and the S&P 500[1] were down similar amounts today (on a percentage basis). [0]https://www.google.com/search?q=INDEXRUSSELL:RUT&tbm=fin#scso=uid_AOF4WqDZMcagtQXL5I6gDg_5:0 https://www.google.com/search?q=INDEXRUSSELL:RUT&tbm=fin#scs... [1]https://www.google.com/search?q=INDEXSP:.INX&tbm=fin#scso=uid_2-B4WoGyD4W8tQXd8obgBg_5:0 https://www.google.com/search?q=INDEXSP:.INX&tbm=fin#scso=ui...
- Skunkleton 9y agoThe article does note that the S&P 500 has seen a similar decline.
- seizethecheese 9y agoIt's the biggest drop because the Dow is close to all time highs. It's far from the biggest percentage drop. Sensationalist headline.
- longerthoughts 9y agoTo put things in perspective: https://en.wikipedia.org/wiki/List_of_largest_daily_changes_in_the_Dow_Jones_Industrial_Average https://en.wikipedia.org/wiki/List_of_largest_daily_changes_... Agree that saying "Biggest Point Drop in History" is a deliberate attention-grabber and incites more fear than it probably should. We should be more concerned with percentage changes and at -4.6% this doesn't even make the top 20 daily percentage drops, which cuts off at -6.98% for number 20 (see above link).
- thesmallestcat 9y agoNot only that, but [some film] last summer smashed box office records. Yes, it's the most popular film ever.
- cabaalis 9y agoI've found that in order to persuade people that something is important, you can either show them percentage deltas or quantity deltas. Pick the one that supports your agenda.
- mi100hael 9y ago> As quickly as the market fell, it recovered much of the ground it had lost as investors remembered the economy and corporate earnings remain strong Amusing.
- zappo2938 9y agoIt isn't a crash unless the Dow drops more than 10% in a single day. When it drops more than 20% since the last high, it is a bear market. It's still a market correction adjusting to the Fed increasing the interest rate to control inflation. We should be fine in the near future.
- deleted 9y ago[deleted]
- SubiculumCode 9y agoSo I read that this drop relies on fears the there will be a spike in inflation due to increases in demand from higher wages and job growth? I am interested to see whether the inflation will really come so easily. I've personally been predicting that production can easily meet large increases in demand given current production tech, and international economic systems where multiple supply chains can reroute around locsl disruptions to production.
- deleted 9y ago[deleted]
- compsciphd 9y agolooks at stock market. think: could be worse. could be currently invested in bitcoin.
- sid-kap 9y agoObligatory comment about how the Dow is a useless number.
- Skulltrail 9y agoThanks, Obama. - Trump minions probably
- neelkadia 9y agois it relevant to any cryptocurrencies?