A lot of people out there have been waiting for this stock market bubble to implode for a really long time. Well, the wait is now over. Stock prices have been falling for months, but what we have witnessed within the past couple of weeks has been absolutely breathtaking. Trillions upon trillions of dollars worth of paper wealth has been suddenly wiped out, and many investors are panic selling in a desperate attempt to lock in profits before the market completely collapses.
On Monday, the Dow lost another 600 points, but the really big news continues to be the staggering declines for both the S&P 500 and the Nasdaq … The Dow Jones Industrial Average dropped 653.67 points to 32,245.70, or 1.99%. The S&P 500 fell 3.2% to settle at 3,991.24, while the Nasdaq Composite lost 4.29% to 11,623.25. It has been stunning to see these sorts of numbers day after day.
One long-time market veteran actually used the word “violent” to describe what we have been witnessing… “I’ve been in the markets for 25 years and I’ve never seen anything like this,” said Danielle DiMartino Booth, CEO and chief strategist for Quill Intelligence, a Wall Street and Federal Reserve research firm. “It’s violent not just volatile.” Sadly, she is right on target. Things have already gotten really crazy, but many believe that the most chaotic chapters of this market implosion are still ahead of us.
The S&P 500 just dropped below 4,000 for the first time in more than a year, and I am already seeing people talk about what will happen when it falls to 3,000.
As for the Nasdaq, it has already plummeted 27 percent from the all-time record high.
Needless to say, that puts the Nasdaq well into bear market territory.
Tech stocks were crushed once again to begin the week, […]
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The Biden regime is destroying our economy, putting your property and financial security at risk. What's worse is that they are discouraging the purchase of precious metals as they try to salvage their midterm election fortunes. Buy precious metals from an America-First patriot. Contact Our Gold Guy and protect yourself through the coming (and current) economic turmoil. Please tell them JD Rucker sent you.