Stocks Post Worst Start to April Since the Great Depression

[appalachiablue]

Source: CNBC

The stock market's start to the second quarter was its worst since the Great Depression.

With the S&P 500 closing down more than 2.2 percent Monday, the broad market index posted its worst start to April since 1929, according to S&P Global.

The index also closed below its 200-day moving average – a key technical level – for the first time since June 2016, 442 straight days.

Bespoke Investments Co-Founder Justin Walters, who also noted the historic nature of the close, said in an email that equity fears aren't likely to abate until earnings arrive.

"Based on recent market action, the bears clearly have control right now," Walters wrote. "The path of least resistance is lower until something comes along to reverse that trend."





Read more: https://www.cnbc.com/2018/04/02/stocks-on-track-for-worst-start-to-april-since-the-great-depression.html

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Article updated 5 hrs. ago.



Crowds gather outside the New York Stock Exchange during the Wall Street crash in 1929.

[DRoseDARs]

1. So. Much. Winning.

eom

[cstanleytech]

5. Well, if you have friends and family already in a position to win money if there is a stock crash

and then you go out of your way to deliberately cause a crash then yes indeed there is alot of winning.

[Bernardo de La Paz]

2. In last 3 months, tRump has erased half the gains of his first 12 months (out of 15). . . nt

[Achilleaze]

20. Dirty Donny* owes Obama bigly thanks. Those early gains were ALL due to Obama momentum

* aka Comrade Casino, republican Draft-Dodger-in-Chief

[DemocracyMouse]

3. Like Hitler did to Germany, he will take the country down with him

[sandensea]

4. The Trump slump.

With the exception of the September-November period, when the Fed blew steam into the economy by threatening to raise rates (this always gets fence-sitters rushing to secure loans), the economy has been in a gradual slump since Cheeto took office.

Wall Street was going to catch up sooner or later.

[appalachiablue]

10. Wall Street Catch Up for sure, coming soon perhaps...

1928 Pres. Election Map, HOOVER (R) after Harding & Coolidge, 3 consecutive GOP presidents, then 1929 disaster.

[sandensea]

13. God help us all.

The '29 crash, as you know, was followed by a sharp spike in already-high murder rates.

With as many RW cretins and yahoos hoarding assault weapons as we have today, if another great depression strikes it'll look like a Mad Max movie before we know it.

[appalachiablue]

15. Amen, Mad Max for real. Hope this isn't happening...Black Tuesday?

[sandensea]

18. The Fed will step in if things get ugly.

As in 2008, it really is all up to them.

How history repeats itself.

[dalton99a]

6. Trump poisons everything he touches

[BaronChocula]

7. "Awesome!!!"

"We hate Hillary-tainted Wall Street! #MAGA #DEPLORABLE #DRAINTHESWAMP"

(Meanwhile, any other day)

"Stock market gained 400 points today! Suck it, LIBTARDS! #MAGA #DEPLORABLE #DRAINTHESWAMP"

[rpannier]

8. Some jackass, dingus author said il douchebag will go down in history as a great president

I guess this must be the beginning of that greatness

[IthinkThereforeIAM]

9. Funny that CNBC says this now...

... this afternoon, after the markets closed, my 84 year old aunt and I were watching some guy named, "Peter", telling everyone there is no need to panic. It is only a correction, yada yada, sunshine up your keister, no problem, yada yada...

And trying to tell everyone that Trump knows exactly what he is doing. Huh?

[workinclasszero]

11. Republicans in charge

They already took all controls off of banks and wall street.

They have already printed 1.5 trillion dollars off for their billionaire buddies and Big Business without paying for it.

Trump has already started a trade war with China. Mexico, Canada and the EU is on notice.

Get ready because these bastards are going to crater the economy like they always do when in power. Its inevitable.

Like the sun coming up in the morning.

The republicans need another Great Depression to bring their dream of fascist Amerika to life.

[appalachiablue]

14. Indeed, as we speak. But I hope for FDR II ! rather than Il Duce/Trumpster, pls.!

1932 Pres. Election Map, Roosevelt (D), 1st term.

[workinclasszero]

19. So do I

Blue wave in the fall will be the beginning but Trump still has massive power at this this time to wreck not only the US economy, but the world's as well.

When and if the democrats get control again, we need to be as ruthless and singled minded for the people of this country as the damned republicans have been for the koch bros etc!

I'm talking health care for ALL! Way beyond what the ACA offers. End the BS of only paying SS taxes on only the first $127,200 of income, or whatever it is in 2018.

Claw back that obscene Trump tax cut for the rich as well. 15 dollar minimum wage nationwide! Legalize the recreational and medicinal use of cannabis nationwide!

Common sense gun laws and the banning of all military style assault weapons starting with the mass murders weapon of choice, the infamous AR-15.

Get dark money out of politics, break up media monopolies, bring back the fairness doctrine. That's just a few ideas.

[C Moon]

12. I believe another depression is what they wanted to happen at the end of the GWB-joke-presidency.

[blue-wave]

16. I hate to be a downer but this must be said....

The feds raised interest rates once this year and are planning another 2 rate increases in 2018.

https://www.npr.org/sections/thetwo-way/2018/03/21/595264873/feds-new-chairman-steps-into-spotlight-amid-an-expected-rate-increase


I also read somewhere else that they want another 3-4 increases next year. My belief is that our economy has never fully recovered from the Bush depression of 2007/2008. With stock market volatility, rising interest rates and the middle of our society stuck in multiple part-time jobs, we are headed for another, possibly much worse crash. And per the chart in the link, interest rates have not fully recovered to 2007/2008 levels. They can't lower rates to keep us afloat. They must print money.

Add in a trade war that has already started and we are headed for disaster.

Any one ever study the Weimar Republic hyper inflation? I have, it wasn't pretty and it ushered in the Nazis. What happened? In simple terms, those in power kept the money printing presses running, thereby creating hyperinflation. The wikipedia link doesn't do the carnage of that time in Germany justice. They were literally lynching bankers and any others suspected in the failure of their currency, in the streets. And there is a lot more carnage to that ugly time. A really good book I read on Weimar hyperinflation is When Money Dies.

https://en.wikipedia.org/wiki/Hyperinflation_in_the_Weimar_Republic

[no_hypocrisy]

17. As the National Debt is now more than $23 trillion, I could see how Mnuchin would find printing

money to address repayment with interest to be a solution.

[BumRushDaShow]

21. If the GOP

1.) hadn't passed that $1.5 trillion in tax cuts for the rich that cuts revenue to help pay off debt
2.) hadn't started a trade war
3.) hadn't torpedoed several of the funding mechanisms behind the ACA
4.) hadn't started taking apart Dodd-Frank
5.) hadn't started antagonizing those countries that routinely have bought our debt

then the Fed's plan for slowly increasing interest rates as part of phasing out QE would NOT have brought about the dire consequences that the GOP's inflation-fueling moves may now cause.

[marble falls]

22. Cheetolini's been awfully quiet about his achievements with the stock market lately.