Dow ends the day down 618 points after dramatic day of losses

Mar 2015
27,646
13,505
Istanbul NOT Constantinople...
#1
By Lucy Bayly
Wall Street saw a massive sell-off on Monday as investors responded to an escalating trade battle between the U.S. and China, after Beijing announced it would be slapping tit-for-tat tariffs on $60 billion of U.S. goods.

Concluding a session of steep losses, the Dow Jones Industrial Average ended down by 618 points, or 2.38 percent, marking the biggest one-day loss for the blue-chip index since January.


At the closing bell, the S&P 500 had dipped 2.4 percent and the tech-heavy Nasdaq Composite ended its worst day this year, down 3.4 percent.

The dramatic trading session saw companies with the greatest exposure to China — such as Dow stalwarts Boeing and Caterpillar — take the largest hits. The tech sector also took a beating, with Apple, United Technologies and Cisco all down around 5 percent...

Dow ends the day down 618 points after dramatic day of losses

Oxford Economics calculated that the higher tariffs will reduce the U.S. economy by 0.3% in 2020, a loss of $490 per American household.

This is starting to scare me. Two of the world's largest economies are now faltering.
 
Jul 2014
35,534
9,322
midwest
#2
Nice gains today in our stock markets.

Regained a good bit of yesterdays losses.

We are still well in positive territory since the first of the year.

These trade talks with China look to be the biggest factor in the markets in the short term.
 
Sep 2014
4,603
1,372
South FL
#4
Love this market, great buying opportunities.


Anyone buy uber yet?
Have a small position on Lyft, 16 shares at $71.49 avg cost. Robinhood great for that, I buy a share here, a share there and I will continue to do this, rain or shine, until they have their first profitable quarter. Then I will reevaluate. I picked Lyft because they were gaining market share and they were first.

It's down from the IPO price of $72 but really who the hell knows what these companies are worth.

I think if driverless cars become a reality, Uber/Lyft then they are currently undervalued. If not, I still think they can be a profitable niche, of course the question becomes 'how profitable?' Because right now their income statements are a complete disaster