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It will also be the first two day drop totaling 1,000 points for the Dow since August 2015, when investors were worried about the Chinese economy. The Dow was much lower then, so the decline was significantly worse in percentage terms.

The Nasdaq slumped more than 2% on Monday, quickly turned positive, then sank again.

Analysts said there weren any new developments that led to the extreme selling on Monday. Instead, they blamed continued fears about inflation and spiking bond yields.

are dealing with the shock of seeing real inflation for the first time in a while, said Bruce McCain, chief investment strategist at Key Private Bank.

The recent plunge has pushed stocks closer to what called a correction, or a 10% decline from its most recent high point.

stock market is throwing a tantrum, said Andres Garcia Amaya, CEO of wealth management firm Zoe Financial.

a deep breath, said Garcia Amaya. know it been a while since we had a day like today, but nothing has really changed from a fundamental standpoint. market started 2018 with a bang, but last week was the worst on Wall Street in two years. The selling gathered steam on Friday when theDow plunged 666 points, or 2.5%, its worst day since the Brexit mayhem of June 2016. Nearly $1 trillion of market value was erased from the S 500 last week.

had a market that was overbought and ripe for something to undermine its tranquility, said Mark Luschini, chief investment strategist at Janney Capital.

The S 500 is down about 5% from its all time high, signaling what analysts call a pullback.

The turbulence on Wall Street led a White House spokesman to say aboard Air Force One on Monday that do fluctuate in the short term. He added, fundamentals of the economy are very strong and cited historically low unemployment.

Thenervousness spread to overseas markets. and 2.5% in Japan.

CNNMoney Fear Greed Indexis flashing underlining a major shift in market sentiment from a week ago when it was sitting in greed. The VIX volatility index surged 47% on Monday after spiking 50% last week. economy, turned negative for 2018 for the first time.

got stretched and that led to a cascading effect today, said Sam Stovall, chief investment strategist at CFRA Research. market has to correct itself a resetting of the dials before this bull market can continue.

Investors main concern is the selloff in the bond market. The 10 year Treasury yield, which moves opposite price, spiked to a four year high of 2.85% on Friday. It a dramatic swing from 2.4% at the start of 2018. Higher yields could make normally boring bonds look more attractive when compared with risky stocks. economy looks very healthy. Friday jobs report showed that wages grew at thefastest pace since 2009. That a welcome shift by workers who have been dealing with anemic raises for years.

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However, Wall Street is starting to get worried that the environment of slow growth and mysteriously low inflation may be ending. Stronger inflation would force the Federal Reserve to raise rates more aggressively than investors may be comfortable with. And more robust wage gains could eat into record high corporate profits.

No matter the cause, the stock market was long overdue to take a breather. Before Friday, the S 500 had gone the longest stretch ever without a 3% pullback. Now the S 500 record long period without a 5% retreat is in jeopardy.

While they can be scary, market pullbacks prevent stocks from overheating and give investors who were stuck on the sideline a chance to get in. Janet Yellen, who just stepped down as Fed chief, told PBS on Friday that she still believes valuations generally are elevated. the recent turmoil, the Dow remains up almost 40% since President Trump election. The robust performance has been driven by strong corporate profits, healthy economic growth and excitement about the Republican tax cut for businesses.

Analysts at Bespoke Investment Group urged calm.

a deep breath, the firm wrote in a research note on Friday. those investors that may have forgotten, this is what a market decline feels like. question is whether the market retreat deepens or whether investors buy at the dip, a mentality that has supported stocks for months.
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