General Category > Economy/Business
Dow slumps 500 points amid inflation concern, Nasdaq drops 2.5%
Right_in_Virginia:
"Slumps" 500 points? :whistle:
GrouchoTex:
--- Quote from: Right_in_Virginia on May 12, 2021, 09:43:31 pm ---"Slumps" 500 points? :whistle:
--- End quote ---
Yep.
That headline sure would have looked different if it happened between January 2017 and January 2021.
Right_in_Virginia:
--- Quote from: GrouchoTex on May 12, 2021, 09:46:04 pm ---Yep.
That headline sure would have looked different if it happened between January 2017 and January 2021.
--- End quote ---
My thoughts exactly.
Right_in_Virginia:
I guess it takes a drop of 680 to get to a "tumble". (I wonder what a "crash" is ... :pondering: )
--- Quote ---Dow tumbles 680 points in worst decline since January as hot inflation reading spooks investors
CNBC, May 12, 2021
U.S. stocks declined sharply on Wednesday as hotter-than-expected inflation data triggered massive selling, especially in technology shares.
The Dow Jones Industrial Average fell 681.50 points, or 2%, to 33,587.66, posting its worst day since January. The blue-chip benchmark tumbled as much as 713 points at its session low. The S&P 500 lost 2.1% to 4,063.04 for its biggest drop since February, while the tech-heavy Nasdaq Composite slid 2.7% to 13,031.68, bringing its weekly decline to more than 5%.
More: https://www.cnbc.com/2021/05/11/stock-market-futures-open-to-close-news.html
--- End quote ---
catfish1957:
--- Quote from: Free Vulcan on May 12, 2021, 09:10:23 pm ---It was well needed. We were at, and still are at, ridiculous levels.
--- End quote ---
Based on my analysis the DOW should be at about 18,500 in actual value.
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