Dow Plunges 317 Points, Wipes Out 2014 Gains
U.S. stocks sustained heavy losses on Thursday as traders ditched a wide swath of assets, leading the blue-chip average to hit the flat-line for 2014.
The Dow Jones Industrial Average fell 317 points, or 1.9%, to 16563, the S&P 500 tumbled 39.7 points, or 2%, to 1931 and the Nasdaq Composite dropped 93.1 points, or 2.1%, to 4370.
In a sign of the breadth of the selloff, every major sector was down by at least 1%. The biggest losers could be found in telecommunications, technology, energy and health care. Volume on the New York Stock Exchange was running about 40% higher than the one-month average. The VIX, a measure of implied volatility in U.S. stocks, surged 26%.
ExxonMobil (XOM), the world’s biggest publicly-traded energy company, revealed stronger-than-expected profits on the day, but revenues missed expectations. The Dow heavyweight’s shares fell more than 1%, suggesting they would weigh on the blue-chip average.
https://www.foxbusiness.com/markets/2014/07/31/dow-plunges-300-points-wipes-out-2014-gains/
That’s why I don’t play in the stock market.
Many people don’t realize that they are invested in the stock market. If you have a pension, an IRA, a 401(k), a 403(b), work for a publicly traded company, etc., you are in the stock market.
What dope you are.
There are no easier ways to make money than play the market.
If I told you that is was a great day for the shorts (lots of them) it would be above your comprehension level.
And next time don’t forget to supersize my fries.