stock market

[Horace]

I'm not sure the COVID crash was this bad.

[Jolly]

Bear market. Hang and rattle, as the cowboys say...

[Horace]

as a percentage, covid crash was 28% for the nasdaq. Which is almost exactly the loss as of today, from the previous high 6 months ago.

[Copper]

Mr. Biden has lowered the market so he can raise it for the election.

[George K]

@Horace said in stock market:

as a percentage, covid crash was 28% for the nasdaq. Which is almost exactly the loss as of today, from the previous high 6 months ago.

Seems like this dip is lasting longer than the one in 2020.

[Mik]

It certainly is. The Covid drop was steep and fast. This one just keeps ticking down.

[Horace]

COVID crash was 5 weeks. This one has been a 5.5 month slow bleed so far.

[Mik]

Annnd the news just announced today was the worst day since June 2020. Dow down 1164.

[George K]

Yellen:

Treasury Secretary Janet L. Yellen said on Wednesday that Americans should not expect immediate relief from high gas prices but maintained that increases in global supply are eventually likely to provide long-term relief for motorists at the pump.
Yellen also warned of the potential for slower growth to combine with inflation worldwide: “Higher food and energy prices are having stagflationary effects, namely depressing output and spending and raising inflation all around the world,” she told reporters.
“We’re doing what we can to avoid further increases in energy prices … but we also want to make sure” Europe weans itself off dependence on reliance on Russian oil and gas, Yellen said. She added: “These pressures are not likely to abate in the very near future.”
Yellen stressed that she did not expect the U.S. economy to go into recession, arguing that it is well-positioned for economic risks, pointing to fast growth coming out of the coronavirus recession. But she said Europe is likely more “vulnerable,” citing its greater dependence on Russian energy than the United States.

Ben Bernanke:

Former US Federal Reserve chairman Ben Bernanke said the central bank’s current leaders were too slow to react to surging US inflation and, as a result, faces a period of stagflation — a combination of stagnant growth and high inflation.

“The forward guidance, I think overall, on the margin, slowed the response of the Fed to the inflation problem,” Bernanke said in an interview broadcast on CNBC on Monday. “I think, in retrospect, yes, it was a mistake and I think they agree it was a mistake.”

[Mik]

[LuFins Dad]

Time to make some money.

[Axtremus]

@George-K said in stock market:

@Horace said in stock market:

as a percentage, covid crash was 28% for the nasdaq. Which is almost exactly the loss as of today, from the previous high 6 months ago.

Seems like this dip is lasting longer than the one in 2020.

I kinda see the rather rapid recovery of the 2020 dip as an anomaly.

[89th]

@Horace said in stock market:

COVID crash was 5 weeks. This one has been a 5.5 month slow bleed so far.

Yup. The COVID drop was way worse, because…faster. I feel like this will be a mini version of the late 70s early 80s. Probably won’t take 5-8 years to recover but maybe a good 1-3 years. I’m ready to convert some accounts into “aggressive” mode to take advantage of the rebound but honestly I think this is just bringing us back to the 200 day moving average and then some. Almost like bringing us back before the big COVID rally.

[Horace]

Anybody care to make an educated guess as to whether the stock market would be where it is today, had Trump won in 2020?

[Mik]

Inflation would be here, but maybe not as bad. Don’t think there would have been a third round of stimulus. Might not be Ukraine war either. Hard to say.

[Doctor Phibes]

How about if Edward VIII hadn't abdicated?

[xenon]

@Mik said in stock market:

Inflation would be here, but maybe not as bad. Don’t think there would have been a third round of stimulus. Might not be Ukraine war either. Hard to say.

Hard to say - Trump wanted much bigger stimulus checks in Dec 2020.

Ukraine war - maybe? Trump is so unpredictable that Putin might have seen his response as too much of an X factor.

That said - I don’t know how important America’s potential response was in Putin’s calculus.

[89th]

The market was quite "bubbly" after the 2020 crash so statisticians would say it was due to come back to earth to at least the 200 day moving average if not further. It probably wouldn't be at 3850 but would probably be in the low 4000s.

[Jolly]

@LuFins-Dad said in stock market:

Time to make some money.

@LuFins-Dad said in stock market:

Time to make some money.

Not yet.

[Doctor Phibes]

Inflation in the UK is currently 9%. It can't be BoJo's fault - after all, they call him Britain Trump!