Dow tumbles 1,100 points, S&P 500 heads for worst day in 2 years on recession fears: Live updates
Dow tumbles 1,100 points, S&P 500 heads for worst day in 2 years on recession fears: Live updates
Stocks dropped as the selling pressures that dragged Wall Street last week persisted, while investors braced for a slew of economic data reports this week.
It is almost like our glorious leader does not know what he is doing.
The "Magnificent Seven" cohort — once the stars of this bull market — led the declines Monday as investors dumped the group for perceived safer plays. Tesla tumbled 13%, heading for its worst day since 2020
https://en.wikipedia.org/wiki/Wealth_of_Elon_Musk
Having been first listed on the Forbes Billionaires List in 2012,[4] around 75% of Musk's wealth was derived from Tesla stock in November 2020
In terms of out-of-pocket costs for the Trump presidency, Musk is paying considerably more in terms of stock losses than in the ~$300 million he donated to the campaign.
As shares of Tesla Inc. lose ground, the company's chairman and presidential adviser Elon Musk is losing big.
Forbes, which maintains a real-time billionaire wealth tracking tool, estimates the 53-year-old was worth $342.4 billion as of the close of business Thursday, down a whopping $121.2 billion from its all-time high of $464 billion, set Dec. 17. He's still the richest person in the world, however.
That's not just due to Trump being re-elected and Musk's very public role there, but it sure doesn't help.
They make money when stocks go down when they short them.
So pretty sure he knows what he is doing.
Step 1: Sell stocks
Step 2: Crash the entire economy thru sheer ineptitude
Step 3: buy stocks, and then let adults recover the economy.
Repeat as necessary.
That churn makes a shit ton of money for a shit ton of terrible people.
Republicans don't give a shit which way the numbers go as long as they knew it was coming, either way you can "make" money, by exploiting people trying to play the same game without the same insider information.
Our entire economy is a fucking grift and we need to admit it
One thing is for sure: the insider traders we may or may not have elected to office are not breaking a sweat.
"Tesla is going down the toilet" is not insider information.
I remember the last crash, Dow hit 7,800. People at work were literally crying because their 401K evaporated overnight.
I was like "Wait, isn't this a GREAT time to buy?"
8 years of Obama later...
For a moment i thought that that’s Commander Adama on the bridge of the Galactica
Ha I can see it
I only saw the MST3K version of Bride of Galactica.
Tanking the Dow is a wild way to avoid recession...
Like the economy was soaring and they wanted to rebuild from scratch. Are we winning yet?
Anyone of these dumb dumb could have read a history book.
Welp time to buy!
Trump has ruined the stock market so much.