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Online mystery-ak

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Dow erases all gains made since Trump took office
« on: March 18, 2020, 05:02:25 pm »
Dow erases all gains made since Trump took office
By Niv Elis - 03/18/20 12:43 PM EDT

The Dow Jones Industrial Average on Wednesday erased all the gains it had made since President Trump took office amid the ongoing economic fallout from the coronavirus epidemic.

The morning of Trump's inauguration, the stock index opened at 19,795 and closed at 19,827. At its lowest point on Wednesday, it fell to 19,700.

The S&P 500, widely considered a better gauge of the overall market, remained about 5 percent higher than it was on inauguration day but down dramatically from its February highs.

While the market's volatility means the Dow is likely to bounce and fall dramatically in the coming days and weeks, its descent to levels not seen since before Trump took office carries symbolic weight.

Trump frequently touted the stock market's rise as a sign of his successful stewardship of the economy. Indeed, just a month ago, the Dow surpassed 29,500, and seemed set to break 30,000.

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https://thehill.com/policy/488231-dow-erases-all-gains-under-trump
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Offline catfish1957

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Re: Dow erases all gains made since Trump took office
« Reply #1 on: March 18, 2020, 05:15:18 pm »
The entire narrative of the 2020 election changed 100% in a matter of 10 days.

Unbelievable.
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Offline DB

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Re: Dow erases all gains made since Trump took office
« Reply #2 on: March 18, 2020, 05:24:27 pm »
Quote from: catfish1957 on March 18, 2020, 05:15:18 pm
The entire narrative of the 2020 election changed 100% in a matter of 10 days.

Unbelievable.

I think there is a good chance the pendulum will be swinging hard the other way by election time.
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Online mystery-ak

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Re: Dow erases all gains made since Trump took office
« Reply #3 on: March 18, 2020, 05:30:36 pm »
People always vote their pocketbooks... 888mouth
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Offline truth_seeker

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Re: Dow erases all gains made since Trump took office
« Reply #4 on: March 18, 2020, 06:12:49 pm »
Quote from: mystery-ak on March 18, 2020, 05:30:36 pm
People always vote their pocketbooks... 888mouth

FDR(1944)  was re-elected after Pearl Harbor.

This virus pandemic is being widely discussed in those terms.

GW Bush(2004) was re-elected after  9-11-2001

LBJ (1964) was re-elected after ramping up Vietnam

Nixon (1972) was re-elected after continuing Vietnam
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Offline catfish1957

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Re: Dow erases all gains made since Trump took office
« Reply #5 on: March 18, 2020, 06:15:28 pm »
Quote from: truth_seeker on March 18, 2020, 06:12:49 pm
FDR(1944)  was re-elected after Pearl Harbor.

This virus pandemic is being widely discussed in those terms.

GW Bush(2004) was re-elected after  9-11-2001

LBJ (1964) was re-elected after ramping up Vietnam

Nixon (1972) was re-elected after continuing Vietnam

None of these POTUS had experienced the level vitriol from the opposite of side of politcal spectra that Trump has endured.
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Offline IsailedawayfromFR

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Re: Dow erases all gains made since Trump took office
« Reply #6 on: March 18, 2020, 07:05:51 pm »
The Dow is not helped by having two oil companies in it that have declined over 50%
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Offline truth_seeker

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Re: Dow erases all gains made since Trump took office
« Reply #7 on: March 18, 2020, 07:11:02 pm »
Quote from: catfish1957 on March 18, 2020, 06:15:28 pm
None of these POTUS had experienced the level vitriol from the opposite of side of politcal spectra that Trump has endured.

No argument there. The only figures, talking about Saul Alinsky were Hillary and Obama.

The media was biased, but not in full scale collaboration with the left/far left.
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Offline catfish1957

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Re: Dow erases all gains made since Trump took office
« Reply #8 on: March 18, 2020, 07:12:54 pm »
Quote from: IsailedawayfromFR on March 18, 2020, 07:05:51 pm
The Dow is not helped by having two oil companies in it that have declined over 50%

And the Market cap after today of these two companies (CVX & XOM) should be just a shade over $200B.  That is insane.  The hardware in these facilities of these companies is probably worth 50%- 100%  more than that.  Extreme example of some over-sold equities.
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