This is a bloodbath
The stock market can reverse itself on a whim at any time – especially in overnight trading, which tends to be more speculative. But when all the overnight indicators plummet at once, it becomes clear that we’re looking at a fundamental drop, and not merely a speculative one. The troubling part is that the market is getting uglier as the night goes on.
Right now the Dow Futures are pointing to the Dow Jones opening down 1300 points in the morning. The S&P 500 Futures have been halted because they collapsed too far. And oil prices are plunging, just to pile on about how bad this is. If you have money in the stock market, this is a bad sign for you. If you expect that the overall economy will follow the stock market’s lead, this a bad night for you as well. If you’re Donald Trump, you’re watching your own future flash before your eyes.
Donald Trump is so uniquely unpopular, he barely has a 40% approval rating despite a still-growing economy. Now that the roaring Obama economy is in danger of finally (and quickly) coming to an end, Trump is in real trouble if this stock market downward plunge continues.
