Stock Markets Down today | General financial discussion | Discussion forum

Alexandra said
Dow down over 600 points today, TSX also down. A sign of more to come?  

Heard various interviews on Business channels - economists etc. - there is some discontent on both sides of the border with Biden's approach - to start with 11,000 people (US & Canada) layed off this week as a result of the Keystone Pipeline cancellation and the message "we will find them other jobs" from the Secretary (yeah, sure she will!) It looks like the Biden govt is going to focus on the environment - the economy and business will not be same priority. The huge US aid package is also making people nervous because of course someone will have to pay for this huge expenditure eventually. Other bad news like Covid situation etc. weighs on sentiment. So such news is very negative for the markets - result was drop in Dow and TSX. Markets look for a business friendly administration - not what they perceive with Biden's start.

Alexandra said

Dow down over 600 points today, TSX also down. A sign of more to come?  

Stock markets were Down, all over the world today.

Reuters Link ➡ https://www.reuters.com/article/us-global-markets/stocks-tumble-on-recovery-fears-dollar-climbs-idUSKBN29V2RC

My crystal ball says the next two weeks will tell . . .

Dean

You do not need to invest daily. I found out from some friends last year that they invest once a year. I am trying to do the same. Have fun.

mmlt said
Stock market crash incoming. That's right you heard it here first.

My bank contacted me about bad interest rates and recommends a qtrade portfolio. A clear indicator of impending doom.  

Yup, when a bank recommends an unaware retail investor (not saying its you, just the bank's approach) get investments, its the kiss of death. In business, there is an inventory accounting term that seems appropriate, "last in, first out" (at a lower value)

When CNN publishes Analysis (their word, not mine) in which their editor-at-large says stock short squeeze is caused by those who are brainwashed with Trump ideology, you know that people are getting irrational and so does market.

In other words, so called financial pros are losing grip on the market. Expect wild ride.

By the way, when Dow was moving up under Donald, same CNN proclaimed average folks shouldn't care, because they don't benefit from that, because they don't invest.
Perhaps, if market starts going opposite direction under Joe, the direction that is long overdue, we will hear the same argument again.

More people are betting in stocks as bank accounts are paying less and less. Many may be new to investing completely. This might lead to some serious swings in the market. Hoping not. Stock market swings can really harm people and cause anxiety that could lead to issues with much larger implications. Like stress and not being able to sleep.

The market was overvalued before COVID-19, so it’s seriously overvalued now!

The only reasons it rose over the past couple years is because interest rates were low and tanked to rock bottom at the start of COVID-19. Everyone has been stuffing money in the markets and seeking the better returns, this has been out of necessity, urgency and greed.

There is no doubt in my mind that a massive correction is coming. The likes of 50%. With low interest rates, it won’t happen abruptly, but once a trigger hits it will happen. I figured it would have happened in past years, already. So I have no clue when it will hit.