Watch Out - Falling Stocks

As advertised, Trump’s machismo was going to catch up with him…

[SIZE=7]Slumping Stock Market Enters Negative Territory for the Year[/SIZE]
Stocks dropped yet again on Wednesday, as the S.&P. 500 gave up its gains for 2018.

By Matt Phillips
[li]Oct. 24, 2018[/li][/ul]

[SIZE=6]Stocks fell for the sixth consecutive session[/SIZE]

The stock market stumbled yet again on Wednesday, as the benchmark Standard & Poor’s 500-stock index shed more than 3 percent despite solid earnings reports from companies like Boeing and Altria. Declines in the tech sector generated significant pressure.

[SIZE=6]Stocks have fallen steadily for nearly three weeks[/SIZE]

As recently as Sept. 20, investors were sitting on a respectable 9.6 percent gain for the year. Not anymore.

A panoply of concerns — like rising interest rates, uncertainty over the impact of the trade war with China and worries that the nearly 10-year bull market may be ending — set off a binge of selling.

Stocks have fallen for 13 of the past 15 trading days, including a 3.3 percent drop on Oct. 10 that was the market’s worst fall in eight months. The S.&P. 500 is now down more than 0.6 percent for the year.

[SIZE=6]The S.&P. 500[/SIZE]

The sell-off arrived despite an economy that looks otherwise strong: Unemployment is as low as it has been in nearly a half-century and the economy expanded at a 4 percent pace in the second quarter. Earnings results from the third quarter have done little to change the dour mood, as investors have looked past largely strong results in search of any evidence that could threaten the market’s nearly decade-long rally.

“It was kind of a market that was looking for a reason to have some money come out of it,” said Tony Dwyer, chief market strategist with the brokerage firm Canaccord Genuity in New York. “And it found it.”

The S.&P. 500 communications services sector — which includes tech giants like Google and Facebook — led the broad market lower.
[li]The tech-heavy Nasdaq composite index dropped more than 4.4 percent, as shares in the tech heavyweights Amazon, Microsoft and Facebook all fell more than 5 percent.[/li][li]Netflix stock fell more than 9 percent, after media reports said that Apple planned to announce a subscription television service that would go head-to-head with Amazon and Netflix.[/li][li]Homebuilding stocks slumped again. The S.&P. 500 homebuilding index dropped 3 percent after new economic data showed home sales slumped for the fourth straight month. The sector has been battered this year, falling more than 36 percent, as rising mortgage rates showed signs of slowing the sector.[/li][/ul]
Investors will be looking to the release of earnings results from technology companies in the coming days for signs that these giants are still generating enormous profits.
Facebook’s report, set for Oct. 30, will be of intense interest after its report last quarter sent its stock price diving, erasing more than $100 billion in shareholder wealth.

They are not falling, it is called a market. The stoppage is expected to be at 10%

Plus I doubt Soros is totally innocent in this shenanigans. He may be trying to take a dig a Trump so that he loses points in the midterms. Soros forgets that the US is not one of those Banana republics he could destroy with a few simplistic moves that he mistook for genius. The US is the most competitive and diverse economy in the history of the world.

Even if he manages to bet against the economy or intentionally sell off to bring it down, he will lose billions and not affect the overall economy one bit. He tried to scare Britain the same way after Brexit but it blew up in is face and he lost billions. He forgets these are not underdeveloped economies where he can play childish games mistaking it for genius.