Wall Street finishes lower in volatile trade — Overnight Markets


"I believe this is the bottom", said Phil Blancato, CEO of Ladenburg Thalmann Asset Management.

"This is going to take longer to work out than people expect", he said.

"It is effectively no change for normal investors, in that you have ridden a wave on the way up, so now is not the time to cash in", said Rebecca O'Keefe, head of investment at Interactive Investor. That's what spin can do.

First, am I concerned?

The Wall Street Crash continues on Black Tuesday.

The Dow plunged 1175 points on Monday, and on a wild day on Tuesday, it dove to an early loss of 567 points and then wound up with a gain of 567 points.

Schlafer said he got several calls Monday from uneasy investors and called several other clients just to reassure them.

"In the 'old days, when good news was reported, the Stock Market would go up". Facebook and Boeing have both fallen sharply.

Meanwhile, the Nasdaq composite index was down 274.82 points, or 3.90 per cent, to 6,777.16.

Media company Tronc Inc. jumped 19% after announcing its sale of the Los Angeles Times and the San Diego Union-Tribune for $500 million to businessman Patrick Soon-Shiong. That included a dark day Friday, as the Dow fell an ominous 666 points. Its latest appearance, in my view, isn't another financial crisis.

They don't discount the relationship between bonds and stocks, specifically, how higher interest rates weaken the relative valuation of stocks.

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But don't mistake being lucky for being smart.

Locally, in economic news on Friday, the Reserve Bank of Australia will release its statement on monetary policy following Tuesday's board meeting and interest rate decision.

Emerging market stocks lost 0.24 percent. That includes the $1.5 trillion, deficit-financed tax cut passed in December, as well as costly proposals for an infrastructure package, Mexican border wall, and upgrading our nuclear arsenal. The stock rose $3.27 to $30.18. Plus, the S&P 500 has upside potential over the next 10 years.

"I think what we have to do is resist the urge to see what 'the damage is' and ride this out", he said.

As Vox's Emily Stewart wrote earlier this week, market observers have been bracing for a correction for a while now: "markets have largely been climbing since the recession and bull markets can't last forever".

Moreover, when wealth increases, like when the stock market or housing market rises in value, people often spend only a fraction of that.

The Cboe Volatility Index, known as the VIX, fell 2.3 points to 27.73, but that was still more than twice levels generally seen in the past few months.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.87 percent.

While many neophytes may be panicking, seasoned investors and investment advisers aren't.

'I don't know if it's over, but a market range may be established'.

A significant portion of market gains has tended to occur during short periods of time.

Finally, make it a point to invest regularly, every month or quarter. U.S. crude oil fell 1.2 percent to settle at $63.39 a barrel, while Brent dropped 1.1% to settle at $66.86. However, that alone would not seem to be enough to spark such a massive market selloff so quickly.

The sharp declines in recent days marked a pullback that had been long awaited by investors after the market minted record high after record high in a relatively calm ascent. And is Trump to blame?