Title : System Failure: Futures are pointing to another bloodbath on Wall Street
link : System Failure: Futures are pointing to another bloodbath on Wall Street
System Failure: Futures are pointing to another bloodbath on Wall Street
| RT | Oct 26, 2018 |
Dow Jones Industrial Average futures slipped 300 points, S&P 500 contracted 40 points, and Nasdaq futures indicate a 186-point drop at the opening bell.
Investors are disappointed by US corporate earnings. “Expectations for US company earnings are quite high, so whenever they are not being met, the reactions are quite severe,” said Miraji Othman, credit strategist at BayernLB, as quoted by Reuters.
“We have grown used to solid numbers, 18 percent revenue growth, 25 percent revenue growth and so on. The valuations have become quite ambitious.”
US trade wars, Federal Reserve rates policy, and the dispute between Italy and the European Union are also pressuring the markets.
“The first, and most important [worry] is that Fed tightening and fading fiscal stimulus will cause the US economy to take a turn for the worse... The second is that China’s economy will continue to struggle,” analysts at Capital Economics said in a note to clients.
“As we have been arguing for a while now, these worries are likely to get worse over the next 12 months or so.”
While the US markets recovered some losses on Thursday, the previous trading session saw one of the worst sell-offs in recent history. The Dow Jones fell 608 points, or 2.4 percent, to 24,583.42 on Wednesday. The S&P 500 plunged 84.59 points, or 3.1 percent, to 2,656.10, marking its sixth straight losing session, while the tech-heavy Nasdaq dropped over four percent.
| Comment: Don't be fooled by the fear mongering of a failed system which a large majority of hard working people have begun to shy away from because of its outlandish risks. Those of us who provide services and products to people will likely see our way of living continue as somewhat normal through this upcoming system failure as our exchanges with others like-minded people are going to continue while even the dollar may be inflated as our country is diverse enough that economics that are localized will be sustained while high hog investors who have played in the financialization of everything under the sun will be those who suffer the most. The stock market is most indeed a ponzi and this ponzi is likely to fail in a big way as truly that is not what is making our economy work at ground level. It is my opinion that seeing the system fail is only going to make our local environments thrive as the Internet is there to assist. Small business is the most important aspect of the economy. Those who have positioned themselves correctly and morally will see their businesses sustained as the monster is consumed. The turn has already begun according to the vast people who are investing in solid assets. The effect of the ponzi on real estate is limited. |
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