Stocks fell sharply in volatile trading on Thursday as the rout in tech — the best-performing sector in the market — resumed after a one-day respite. The Dow Jones Industrial Average closed 405.89 points lower, or 1.45%, at 27,534.58. Earlier in the session, the Dow was up more than 200 points. The S&P 500 slid 1.8% to close at 3,339.19. The Nasdaq Composite dropped 2% to 10,919.59 after surging as much as 1.4%. It was the fourth decline in five sessions for the major averages. Article
I will be very surprised if this elephant can’t be kept aloft until November. I think Congress and the Federal Reserve will be throwing money at it soon. However, I’ve been wrong before. The deadlock in DC may be so severe that it allows this rout to continue. If this slide is allowed to get much worse, likely nothing will be able to halt it. I say that I don’t invest according to my macro read. Generally that’s true. But sometimes my “compass“ gets a bit disturbed by my macro view. Hard to shut everything out. BTW - I like gold at least to November - probably much longer. What do others see in the months ahead for this market?