anyone see that huge sell off on the Dow Jones stock market just minutes before trading, why it happened?
it was up a little over 1600 points yesterday and today it rose over 900 points, but the last hour? or even last 10 minutes? of trading it sold off like 3.9 percent. why?
- Lord DaytonLv 72 months agoFavorite Answer
It's because it is very hard to predict what the long term business prognosis is under corona virus. If you're a bear then you want to get out of all your stock positions, but then a bull wants to buy up under-valued recovery shares.
- ron hLv 72 months ago
Recently, when donnie tRump goes on TV and lies, people think he's gonna f*ck something up again. And the market drops in minutes.
- A.J.Lv 72 months ago
In a pandemic with massive business problems, stock prices swing wildly. The reason for the rise was a singe day decline in Covid-19 global death rate, but they see the USA badly managed in this and deaths rising.
The DJIA is only 30 large companies.
4/6 close 22680
4/7 open 9:30am 23537
closed at 22,653.86
slid down bumpy all afternoon.
I didn't watch the pre-market trading.
Market ended the day slightly lower for S+P 500 and DowJIA.
Individual stock prices in smaller cap swinging wildly.
Some of my holdings today as symbol, name, % change today, my gain/loss
CMC COMMERCIAL METALS CO +1.46% +10.07%
KSS KOHLS CORP +20.21% -1.33%
OMF ONEMAIN HOLDINGS INC +7.65% -9.07%
COP CONOCOPHILLIPS +1.43% -13.88%
CFG CITIZENS FINL GROUP +3.94% -49.52%
PRU PRUDENTIAL FINL +5.94% -52.66%
TWO TWO HARBORS INVESTMENT +30.79% -73.15%
MNK MALLINCKRODT PUB F +16.76% -85.72%
FSK FS-KKR +9.40% -49.00%
MTG MGIC Investment Corp Mortgage Ins +13.50% -8.70%
- 2 months ago
Pessimism over oil supply and demand crept in throughout the day and then the realisation that markets are closed on Friday meant that it made sense to take action today ahead of Thursday's OPEC talks which investors have concluded cannot result in anything positive as there is already too much supply in the system.