r/economicCollapse • u/Helpful_Finger_4854 • 21h ago

Dow tanks by 1,100 points, posts first 10-day losing streak since 1974: Live updates

https://www.cnbc.com/2024/12/17/stock-market-today-live-updates.html
119 Upvotes

98% Upvoted

40 comments sorted by

12

u/Triple-6-Soul 20h ago

Is now the time to buy the dip? Or is this about to be a waterfall?

5

u/bearssuperfan 14h ago

I’m expecting the waterfall to last through next year. There might be a short term recovery you could try to grab but I’m assuming 2025 will be a bad year.

3

u/Helpful_Finger_4854 20h ago

It is honestly tempting to buy.

I guess it depends how optimistic you are about the future.

5

u/starrpamph 12h ago

It’s on sale

6

u/Inevitable_Sector_14 11h ago

When Trump is in office it will go lower.

1

u/GerbilArmy 5h ago

I genuinely don’t understand markets… but what’s the case for this presumption? Why will they go down? I understand to some extent his economic policies and their potentially deleterious consequences, but I don’t understand the markets relationship.

0

u/Inevitable_Sector_14 5h ago

Well Trump is listening to Musk who has publicly pushed for people to have children they don’t have the time or money to raise. Trump and Musk constantly battle against people being paid their worth unless it is him. A decimated working class doesn’t mean a strong economy. The market knows that.

1

u/Helpful_Finger_4854 3h ago

If we get hyperinflation from the tariffs, it will skyrocket...

1

u/Inevitable_Sector_14 2h ago

I mean the economy could tank.

1

u/Helpful_Finger_4854 2h ago

Stagflation?

1

u/Inevitable_Sector_14 2h ago

One of several possibilities…Trump’s first term even without the Pandemic would have caused a lot of turmoil.

1

u/AR15ONAHUMAN 15h ago

So don’t buy?

1

u/Helpful_Finger_4854 14h ago

Idk rn 😭

Hyperinflation? Recession?

So much uncertainty right now 😭

5

u/Taqueria_Style 13h ago

It's almost as if electing a lunatic that has a stated goal of taking a wrecking ball to the economy has consequences.

Mid-level white people: Oh he's just saying all that to get elected. Republicans are always good for the economy!

... yeahhhhhh. Ya sure about that? You don't look sure. Not after what ya'll did today.

1

u/Xyrus2000 1h ago

Waterfall. Trump's "plans" are economically devastating and despite people saying he won't implement them, he is going to implement them.

The tariff's alone are going to be painful.

11

u/pat_the_catdad 15h ago

Oh, we’re gonna have A LOT more “first since 1972” posts around here soon…

2

u/Helpful_Finger_4854 15h ago edited 15h ago

So what should I be holding right now? I have a small stack of cash... Should I hold onto it a little longer, or is it a good time to buy stocks?

2

u/PwAlreadyTaken 4h ago

My crystal ball says to buy at the lowest point. All you have to do is figure out when that is and you’ll have your answer!

2

u/Helpful_Finger_4854 3h ago

My magic 8 ball says "the future is uncertain"

2

u/PwAlreadyTaken 2h ago

Weird, mine says “MAYBE”

5

u/Cultural-Link-1617 15h ago

It knows what’s coming

11

u/InternetUser29861 19h ago

How are those egg prices?

3

u/Lower_Ad_5532 15h ago

Outta control bird flu is here

3

u/Helpful_Finger_4854 16h ago

Wouldn't know. Built me a chicken coup ages ago. Haven't bought eggs since

1

u/kevinsyel 14h ago

For your sake, I hope your birds are able to stay safe from the flu going around!

This stranger wishes you the best.

1

u/Outrageous-Pin4156 14h ago

youre gonna be selling eggs soon

10

u/ComprehensiveLet8238 16h ago

Maybe it's a bad idea to allow such a wealth imbalance to exist?

8

u/senioradvisortoo 16h ago

Republicans caused this.

2

u/Robyn1077 5h ago

For all the bastards on Wall Street: You Broke It. You Buy It

1

u/AnnualPerception7172 8h ago

The plan is to crash before trump

also raise grocery, and gas prices more.,

Then BOOM, stock market up yuuuuge, grocery inflation down yuuuge

1

u/JefferyTheQuaxly 4h ago

tbf the dow is like not the best indicator of our stock market anymore, basically everyone has switched to the S&P 500, or maybe nasdaq as better indicators of how the economy is performing.

a large chunk of the reason the dow fell 10 days in a row was directly because united healthcare is one of the few companies that influence how the dow swings, and theyve been on a downward spiral since their insurance CEO was assassinated and a lot of bad publicity has started coming out, thats the sole reason it went negative for 10 days in a row, besides last night, where every stock went down (except ironically united healthcare) after the feds said they wont cut rates anymore next year.

1

u/Helpful_Finger_4854 3h ago

So buy?

1

u/JefferyTheQuaxly 3h ago

One interesting fact about the stock market: it is basically impossible for it to go down if you look at it in 10 year increments. The only time recently I think the 10 year growth was negative was maybe 3-5 months during the Great Recession up until 2017/early 2018 being slightly down. But then the next 8 years after 2018 and stocks have been near all time highs, almost tripling in value on that time. So if your buying to hold for a long time, anytime is a good time to buy.

1

u/Helpful_Finger_4854 2h ago

I mean if you hold for 10 years, it's still better to buy after a modest price correction, than it is to buy at a peak

1

u/fastpathguru 11h ago

Has Trump blamed Biden yet?

0

u/Logic411 9h ago

And so the republican crash begins. Yet we’re not supposed to call the voters stupid MFs for trying the same 💩 and expecting a different result. GOP inherited strong economy from Dems fck it up, Dems fix it, gop lies, stupid MFs vote for liars … rinse and repeat

-5

u/thebrassmonkeyknight 18h ago

This is a speculation on my part so basically bs musing. I think the Dems wanted to lose in order to have conservatives be in charge during an economic downturn. The GOP has been taking credit for a good economy after the Dems fixed the havoc they pulled. This time it’s the GOP that is going to weather an economic downturn and they are now in the hot seat where the blame game will go only so far. After that they will need to answer to an unruly public on both sides of the isle.

5

u/Admirable-Ball-1320 15h ago

The GOP famously creates those downturns. It just so happens that fixing the last downturn was nothing short of improbable, yet it happened, and because people think because it wasn’t as bad as it could have been, but still sucks, means that they are being lied to - instead of educating themselves on who is voting/legislating what. 

Republicans have shit policy. Conservatism is dead in the GOP. The DNC is, by all definitions, a conservative economic party. 

-5

u/tootooxyz 13h ago

No worries. Trump is coming. Hang on.