Dow plunges 540 points as big tech shares lead the decline

[Yo_Mama_Been_Loggin]

Stocks fell sharply on Wednesday, adding to Wall Street’s poor start to the final quarter of 2019 as investors grapple with fears of an economic recession.

The Dow Jones Industrial Average declined by 540 points, or 2% to break below its 50-day and 100-day moving averages, two technical levels watched by traders. Visa was the worst-performing stock on the 30-stock index, sliding 2.8%.

The S&P 500 lost 1.9% to fall below its 100-day moving average as the industrials sector dropped 1.9%. Eaton Corp and Rockwell Automation were among the laggards in the sector. They both fell more than 3%.

The Nasdaq Composite slid 1.8% as large-cap tech companies followed the broader market lower. Amazon, Apple and Alphabet all dropped at least 0.9%.

https://www.msn.com/en-us/money/markets/dow-plunges-500-points-as-big-tech-shares-lead-the-decline/ar-AAI6omP

[Bernardo de La Paz]

1. The Dow is much loved by headline writers, but it is 30 mega-cap stock. S&P 500 much better.

S&P 500 down 2.07 % so far.

[TidalWave46]

2. Stock buybacks after the tax scam have artificially inflated the value of many large corporations.

We are going to see an adjustment occur while also realizing other issues economically. It's not a one size fits all issue. Our economy is being "taxed" to it's limits across the board.

[muriel_volestrangler]

3. European indices even worse - UK -3.2%, France -3.1%, Germany -2.8%

https://www.bbc.co.uk/news/business/market-data

[Iwasthere]

4. I put virtually all of our IRAs and 401Ks into gold and silver

SGOL and SIVR. The markets have been artificially held up too long.

[ck4829]

5. K&R