Dow plunge accelerates, on pace for worst day of 2024

[mystery-ak]

 February 13, 2024 1:52pm EST | Updated February 13, 2024 3:01pm EST
Dow plunge accelerates, on pace for worst day of 2024
Dow Jones Industrial Average is on pace for the worst day in 11 months

By Suzanne O'Halloran FOXBusiness


U.S. stocks tumbled in a broad sell-off after a hotter-than-expected inflation report may jeopardize the Federal Reserve’s plan to cut interest rates.

The Dow Jones Industrial Average fell more than 700 points during intraday trading, or 1.8%, and is on pace for the worst session in 11 months.

The benchmark has erased almost half its gains for 2024 with the 10-year Treasury yield nearing 4.3%.

The consumer price index for January rose by 3.1% on an annual basis, higher than the 2.9% economists surveyed by Refinitiv expected. The producer price index, due Wednesday, will also be closely watched. 

more
https://www.foxbusiness.com/markets/dow-plunges-worst-day-2024

[mountaineer]

2020: We don't care about the stock market

FRIDAY: Yes we do. "The stock market going strong is a sign of confidence in America's economy," Biden says.

TODAY: "Dow tumbles 500 points, posts worst day" in 11 months.

https://twitter.com/RNCResearch/status/1757514482740302033

[catfish1957]

A 1.3% drop after this run up is actually healthy, and way over due.

Truth be known this market is actually 40-50% oversold basaed on historical fundementals.  Get the DOW back down to about 20,000 where it belongs, and I might look for some bargains.

[Cyber Liberty]

A 1.3% drop after this run up is actually healthy, and way over due.

Truth be known this market is actually 40-50% oversold basaed on historical fundementals.  Get the DOW back down to about 20,000 where it belongs, and I might look for some bargains.

I have been watching this for a number of years, and I keep being reminded of "Irrational Exuberance."  I, too think stocks are priced wayyyy above their value.