George don’t look happy
A double whammy today in the United States.
The Dow Jones Industrial Average dropped like a brick today due to tech stocks and concerns over rising interest rates.
Don’t wanna say we told ya so, but…
Meanwhile, Hurricane Michael has struck the Florida panhandle as a Category 4 storm with sustained winds of 155 MPH and gusts reaching as high as 175 MPH. Pictures of extensive damage are starting to roll in as the storm continues to move inland and Northwest towards Alabama.
Godspeed to all those in the path of the destruction…
A dubious anniversary. 10 years ago today, on September 29th, 2008, the Dow Jones Industrial Average had its largest single day point loss ever with the bankruptcies of Lehman Bros and Washington Mutual. Although there were signs that an economic crisis was brewing, this particular event made it official. An economic crisis of epic proportions had arrived and would affect financial markets the world over. Emergency measures including bailouts for companies were put in place by the U.S. government and shock waves rippled through foreign trade markets.
So hey, let’s deregulate everything again, remove restrictions on industry, start selling faulty mortgages, handout massive bonuses on Wall Street and essentially revert us to the conditions that set up 2008 in the first place.
Enjoy that booming stock market while it lasts.
It will all go up in smoke eventually. It always does.
Looks like Wall Street had a very good day today.
The Dow’s 251-point leap on Thursday marked its 100th record close since President Donald Trump’s election, according to S&P Dow Jones Indices. The S&P 500 also notched an all-time high.
The Dow closed at 26,657. It has spiked about 3,300 points since a low on April 2, when investors were more worried about trade. They’re betting that the strong US economy will power through the outbreak of tariffs.
That should make investors happy…for now…