The Trump tax cuts kicked on February 1st. Now all those middle class workers receiving their installments on their $2000 yearly tax break have just seen their retirements and 401ks in the Nasdaq take a 273 point hit. Probably if you put your tax break straight into your 401k, you might break even at the end of the year, while the corporations who just got 86% of the tax break will write your losses off on their books and end up paying no taxes. We have reached the point of circus carny theft with thug cops to back it up.
The Dow Jones Industrial Average fell nearly 1,600 points at its lows on Monday, after a period of selling accelerated sharply heading into the close of the session. Amplifying the slump was computer-programmed trade set to dump shares at certain levels. According to traders, the DowDJIA, -4.60% was set to trigger trades once it fell below 25,000 and 24,000, for example, and 2,700 for the S&P 500 SPX, -4.10%
The S&P 500 finished the session off 113 points, or 3.9% at 2,648, the Nasdaq Composite Index COMP, -3.78% ended down 273 points, or 3.8%, at 6.967. The Dow, meanwhile, shed as much as 1,597 points at its low, and closed out the session 1,175 points, or 4.6%, down at 24,345.
14 thoughts on “Dow plunges 1,600 points at lows, marks worst intraday point drop in history, on computer-driven selling”
Watch for the lame excuses as to why this occurred as well as the prop up folks to come out. Tomorrow should be much better. Probably just a little shook over the new fed chairman is all.
BS, BS, BS!!!
So if you would have cashed out your 401k you would have taken less of a hit for early withdrawal than what you just got skinned alive for today.
401ks do nothing except feed executives when they start to loose money. 401k’s are a scam…
The whole stinking thing is a scam!
A game constructed for inside trrading by inside traders.
Somebody made off with a chunk.
Last Moonday, I transferred my 401k from blue chips to bonds. Why? Because djia had gone vert, 1000 points/2wks, and the memo was set to come out. A memo that would do 2 things. 1. Make sheeple question the FBI, cia, doj and the bamas. 2. Would piss off the 666’ers.
I think the 6ers may take it a bit lower. Will see. You all should quit focusing on trashing Trump, and instead learn to read reality.
Btw, not on board with Zionists, may be play to bring djt as man of year, introduce Ww3, destroy USA ala Hitler nationalism. Don’t know yet.
“401k’s are a scam…”
If you don’t hold it
You don’t own it
And lately it’s getting to the point that even what you do own ,ain’t even yours
I personally don’t give a crap what it does!
Let it drop…
(LAUGHING) Thanks Trump. lol… effin joker!
I don’t think there’s going to be any re-bound this time.
Yes, it’s a fake market, but you still have to pump money into it to keep it afloat, and I don’t think they can (or will) do that anymore.
A stock market crash means very little to most of us, but it’s a way of announcing to the public that the game is over. It’s the contraction of the money supply that causes all the suffering, and that already began.
Perfectly timed to coincide with the pandemic, and world war, just as I promised it would.
They prefer a 7_10 wave. Overdue with a big excuse. Good news! Still support gender identity challenged as means of eugenics and natural selection.
First a drop of 666 and now this drop. I think the 666 number was their signal that the “times up”. Just like Hollywood is promoting right now with there FEMINIST bullshit. In 2009, the S&P bottomed out with the number 666, then got pumped full of manipulation to where it is today.
If Wall St suffers more of these, I’m going to state here that we’re in real danger of Trump’s warning of a “unifying event” for the nation.
We….here…know what this means, and I believe that if the economy begins to collapse faster than ‘they’ can control, the ‘unifying event’ will be used so blame can be shifted to “those that outrageously attacked us on that date”.
And oh, the timing. They pull something like this every year in late January/early February, right after the holidays and the Superbowl when they’ve milked everyone of their finances. We either get a money crash or something to expand the eternal war, or something to rip off more rights.
And oh those back door meetings, with threatening memos, and the monitoring of what they’ll share with the public and what they won’t, and how very artfully it will be spun. They shift us here, they shift us there. I’m so tired of shifting.
Toto has fully pulled the curtain back; there’s not much left to expose. But many times I have thought we were at critical mass only to learn there was more criticality ahead. Well I have the two “P” words: Pray and prepare.
Pray and prepare.
We got out of the stock-bond-whatever market years ago, and the only reason we stayed in as long as we did, was a tax break on minimal losses. Tax breaks on losses today simply aren’t worth it. Never had a 401-K…retirement accounts are just scams. Like the guy said, if you don’t hold it you don’t own it.