Dow Forgets We’re Recovering, Drops 1,000 Points
Fears that this might be a jobless recovery turned into fears that this might not be a recovery at all on Thursday as the Dow dropped about 1,000 points. It quickly rallied, leaving the loss at the world's biggest casino at 347.80. (continued)
Fears that this might be a jobless recovery turned into fears that this might not be a recovery at all on Thursday as the Dow dropped about 1,000 points. It quickly rallied, leaving the loss at the world’s biggest casino at 347.80.
The plummet, which reportedly got a big assist from automated trading, had something to do with the possibly contagious economic plague in Greece.
In the disturbing words of one analyst, quoted by the AP:
“The market is now realizing that Greece is going to go through a depression over the next couple of years,” said Peter Boockvar, equity strategist at Miller Tabak. “Europe is a major trading partner of ours, and this threatens the entire global growth story.”
“Global growth story” being Wall Street speak for not needing to sell our jewelry for cat food. — PZS
Your support is crucial...As we navigate an uncertain 2025, with a new administration questioning press freedoms, the risks are clear: our ability to report freely is under threat.
Your tax-deductible donation enables us to dig deeper, delivering fearless investigative reporting and analysis that exposes the reality beneath the headlines — without compromise.
Now is the time to take action. Stand with our courageous journalists. Donate today to protect a free press, uphold democracy and uncover the stories that need to be told.
Conservative ideology generally is incapable of handling problems like this. Trump is proving why.
The economic pain caused by the coronavirus becomes more painfully clear.
Because our banks aren't nationalized, its inability to work with Congress has resulted in another botched attempt at crisis management.
A combination of pension plans, Social Security and personal savings once carried our retirees through their golden years. Not anymore.
The S&P 500 has plunged 12% from the all-time high it set just a week ago, putting the index in what markets watchers call a “correction.”
The viral outbreak is threatening to crimp worldwide economic growth and hurt profits and revenue for a wide range of businesses.
You need to be a supporter to comment.
There are currently no responses to this article.
Be the first to respond.