Thu. May 28th, 2020

Dow Suffers Worst Christmas Eve Losses In US History, Trump Tariffs, Trade War To Plunge 2019 Economy

Trump has filed bankruptcy six times. Why anyone but a racist fool would think that a reality TV conman who doesn’t even own the buildings he has his names on and who wrecked Atlantic City’s casinos should be president, is why I left the Bible Belt.  Morons and racist fools will be sorry they backed this clown.

Wall Street’s hoped-for “Santa Claus Rally” turned into a Christmas Eve Massacre on Monday, with the Dow setting a new record for losses on the day before the holiday.


The Dow closed down about 650 points at 1 p.m., a 2.9 percent drop that was the worst performance on a December 24 ever.


The Dow had never closed down more than 1 percent on Christmas Eve, MarketWatch reported.


Analysts were hoping for what the Street calls a Santa Claus Rally, in which stocks usually climb in the last weeks of December.


Treasure Secretary Steve Mnuchin’s Sunday ridiculous calls to the nation’s biggest bankers, asking about their liquidity also backfired, experts said.


“In many ways, what Mnuchin did by reaching out to private-sector counterparts is absolutely normal” amid the shutdown, said Quincy Krosby, an analyst for Prudential.


But going public with the statement spooked the markets, she added.


“The reason this made headlines is it has now been associated with reports that the President wants Powell out. His intentions were positive but in a nervous market, it obviously didn’t work. It confused the market,” she said.


Pelosi and Schumer released the following statement following the Tweeting Fool’s day on Twitter and watching Cable TV News:
“It’s Christmas Eve and President Trump is plunging the country into chaos,” the two top Democrats in Congress wrote in a joint statement on Monday issued after the Dow closed down 653 points in the worst day of Christmas Eve trading in history. “The stock market is tanking and the president is waging a personal war on the Federal Reserve — after he just fired the Secretary of Defense.”
Written By: Tommy Lightfoot Garrett
Photographs are Courtesy:  AP
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