Add articles to your saved list and come back to them any time.Wall Street appears to have belatedly realised that the foundations of the extraordinary stockmarket surge since March are increasingly illusionary., with the S&P 500 down almost two per cent, the Dow Jones Index falling 2.3 per cent and the technology-laden Nasdaq market sliding 1.6 per cent.
Wall Street doesn't seem to be as optimistic as Trump that the US is"rounding the turn" in its fight against the pandemic.The data from Europe, which after largely bringing the virus under control is now experiencing a savage surge in infections and a new round of lockdowns, adds to the sense that the US experience, where mitigation efforts have been highly politicised, could be calamitous.
Expectations of a new round of stimulus haven’t been borne out. The Democrat-controlled House passed a $US2.2 trillion plan at the start of this month but the Republicans in the Senate are showing no interest in supporting it, instead pushing for a much smaller amount. The surge in infections and the absence of further stimulus – and the reality that the US Federal Reserve Board has done just about everything it could do in its unprecedented monetary policy responses -- appears to have, and should have, investors questioning their previous optimism.
Shiller said that his proprietary measure of stock valuations, the "Cyclically Adjusted Price Earnings," or CAPE ratio, was at a level only surpassed in two periods – the lead up to the Great Depression and in early 2000, just before the dot-com bubble imploded.
Bulldust. Market absolutely tanked!
Illusory.
Our problem in Australia is we have an incompetent Federal Government With no Economic Road Map
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Reality bites: Wall Street rocked as it confronts a painful truthSince March, the market has almost entirely ignored the coronavirus and its economic impacts. But it is becoming obvious that the pillars for its optimism are wobbling rather violently. The news are the most guilty of fear mongering world wide to create panic and a massive profit taking opportunity for the super wealthy controlling media. Weve seen it the last 6 months. Rinse and repeat, we need to stop reading news today. Its reached junk status Or maybe they are just worried Biden will win Have to be pretty fking stupid not to realise it’s one fat Fed induced bubble. Wall Street were bailed out in March and they want more.
Source: smh - 🏆 6. / 80 Read more »
ASX having worst day in a month as Wall Street tumbles | Sky News AustraliaAustralian shares are having their worst day in a month after a horror session on Wall Street.\n\nThe ASX was trading 1.2 per cent lower, with all sectors in the red.\n\nInvestors are nervous about rising coronavirus cases and stimulus delays in the United States and the impacts those could have on the global economy.\n wow, deliberately destroy the economy and you destroy the economy, who knew? wow! really just wow!
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Reality bites: Wall Street rocked as it confronts a painful truthSince March, the market has almost entirely ignored the coronavirus and its economic impacts. But it is becoming obvious that the pillars for its optimism are wobbling rather violently. The news are the most guilty of fear mongering world wide to create panic and a massive profit taking opportunity for the super wealthy controlling media. Weve seen it the last 6 months. Rinse and repeat, we need to stop reading news today. Its reached junk status Or maybe they are just worried Biden will win Have to be pretty fking stupid not to realise it’s one fat Fed induced bubble. Wall Street were bailed out in March and they want more.
Source: smh - 🏆 6. / 80 Read more »
ASX having worst day in a month as Wall Street tumbles | Sky News AustraliaAustralian shares are having their worst day in a month after a horror session on Wall Street.\n\nThe ASX was trading 1.2 per cent lower, with all sectors in the red.\n\nInvestors are nervous about rising coronavirus cases and stimulus delays in the United States and the impacts those could have on the global economy.\n wow, deliberately destroy the economy and you destroy the economy, who knew? wow! really just wow!
Source: SkyNewsAust - 🏆 7. / 78 Read more »
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Source: abcnews - 🏆 5. / 83 Read more »
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Source: smh - 🏆 6. / 80 Read more »