Sharp sell-off in US stocks is the start of a 'very major correction'

https://www.cnbc.com/2018/06/19/jim...f-in-us-stocks-start-of-major-correction.html

Today, the stock market had one of it's biggest selloffs since last February. The Dow Jones finished at -817.22 or 3.09% and the NASDAQ -315.97 or 4.08% of total market value.

The selloff came on fears of rising interest rates. In the past year with a robust economy and a stock market rising to record levels, Trump took the credit for it - saying that it's a function of his policies. Will he take the blame for the severe losses on Wall Street today? I don't think so.

Everyone knew that a huge bubble in the economy was forming and it would burst sooner or later.

"The trade war worries are "certainly having an effect on the market, but the market is reacting because it's already far too expensive," Mellon said. "The U.S. is selling at 32 times cyclically adjusted price-to-earnings (PE) ratio, which is an all-time high. Surely it's time for a major correction anyway."

Mellon is not alone in suggesting that today's stock market is the most overvalued on record — more so than in 1929, 2000 and 2007.

 

The last time the bond yield was this tight was right before the 08 recession. The other 2 recessions in US history were also proceeded by a similar tightening of the Bond Yield market.

 

It's October kids.

 

LOL! The stock market has dropped by 500 points or more (IIRC) 6 times over the past year, including a 2,000 point drop in 2 days this past February.

Each time, liberals ran around like chickens with their heads cut off screaming about how it was the end of the world. And each time, the market bounced back in short order.

 

The market is overvalued and it won't take much to tip it over.

 

The sky is falling! Get inside! Protect the children!

 

Like February and March, he won't mention the market for a while... He's the GOOD News president (and when he doesn't have any, he makes some up)...

Good tip on the Great Depression.... Trumpublicans need a good depression to show how completely useless they are...

 

I think my post was quite clear,

"Today, the stock market had one of it's biggest selloffs since last February. The Dow Jones finished at -817.22 or 3.09% and the NASDAQ -315.97 or 4.08% of total market value."

 

Looks like a standard minor correction to me...

 

Buying opportunity coming up!!!!

 

Yes and then at the end of the post you put in a meme about republicans and the great depression. The implication is quite clear, don't run away from your own post so quickly.

 

I think you should panic and sell off everything you have.

 

Buy low/Sell high.

 

I love liberal progressives rooting for economic collapse.

Booking profits is not unusual.

 

Prolly.

 

Its always a buying opportunity if you wait long enough

 

Has anyone noticed the date on this article?

Tue, 19 June 2018, nearly 4 months ago.

Since then the Dow Jones is up over 2000 or ~6%, and the NASDAQ is up 300 or 4%.

 

The time to be wary is when the LW throws in the towel on hoping for gloom and doom daily and their fake news outlets start touting the market enthusiastically. This may never come of course, so ironically, the LW TDS may actually be supporting and extending the bull market or chilling a correction. After a possible point of overwhelming MEDIA optimism, with prevailing unbridled optimism among the saner private sector ongoing now, we will be building towards a major correction. My hunch is next October, not this one. The third year of Presidential Administrations, especially the second term but generally also, is historically a likely time for corrections.

Midterm results overfavoring Democrats towards a shift in Congressional control could of course short-circuit this cycle and result in a major correction by the end of 2018. Few of their blocs own anything other than the government checks in their mailboxes, a computer and a television with cable, so they won't care as long as the checks keep coming.

 

Right. Because it's all those wealthy Southern Republican states that keep this economy going. SMH...

 

Another variation of the oft and thoroughly debunked "Red state taker, blue state giver" lie narrative. Fail as usual.

Democrats win the bottom two income quintiles handily, those who pay no federal income taxes, and by extension don't own securities, in almost every election where exit polls are taken. Did exactly that in the 2016 Presidential Election. Don't like that fact? Sorry.

 

These corrections always happen in October.

 

Prove it

 

Prove -anything- to -you- or posters like you? Thanks for the laugh.

Have cited exit polls many times on the forum, not hard to find. That Democrats win the bottom two income quintiles and did so in 2016 is a well-documented, well-known (among aware adults) fact of U.S. politics. Don't like that fact? Sorry.

 

I accept that you have nothing to back up your claim. Thanks

 

The stock market is overpriced, its a giant bubble. Real estate is also in another bubble.

But its grossly dishonest to insinuate its due to the Republicans alone.

The stock market bubble has been building since late 2008, its not a political party driven problem. Its driven by the government.

The real estate bubble has also been building since late 2008.