Aaaaand...It's a New Record!
Congratulations, everybody. The stock market just closed, with the Dow Jones industrial average having fallen 2,997 points, setting another world record in Donald Trump's string of the largest point losses in history.
What is more interesting to me is that this represents a percent loss of 12.93%, just managing to outpace the 12.82% that the market lost on October 29, 1929. I wonder when we are going to start seeing businessmen jumping out of skyscrapers again.
I must add, just for fairness, that the greatest percentage loss in a single day, a colossal 22.61%, still belongs to that Republican Saint, Ronald Reagan, but of course, Reagan totally failed to put together a seemingly endless series of days like today, so I think we now can declare Donald Trump the world champion stock market destroyer, beating out the previous title holders, Reagan and Herbert Hoover.
Just to be clear, this means that the market has lost just a shred under 30% of its value since February 12. Bet you can't wait to see what happens the rest of this week.
What is more interesting to me is that this represents a percent loss of 12.93%, just managing to outpace the 12.82% that the market lost on October 29, 1929. I wonder when we are going to start seeing businessmen jumping out of skyscrapers again.
I must add, just for fairness, that the greatest percentage loss in a single day, a colossal 22.61%, still belongs to that Republican Saint, Ronald Reagan, but of course, Reagan totally failed to put together a seemingly endless series of days like today, so I think we now can declare Donald Trump the world champion stock market destroyer, beating out the previous title holders, Reagan and Herbert Hoover.
Just to be clear, this means that the market has lost just a shred under 30% of its value since February 12. Bet you can't wait to see what happens the rest of this week.
Comments
I think nowadays they have entry-level employees to do the jumping for them.
I don't see where the bottom is for the stock-market drop. If they're waiting for reassuring signs of competence from the president in handling the crisis, they're not going to get that until January 21.
From January 21, 2017, every day has been worse than the day before, and the first day was pretty bad. There has never been one day where good news about anything came from the White House that wasn't blatant lies or fantasy. It's crap that only Trump's red hat brigade could hear and possibly come away thinking we have a strong, capable, sane head of state making the best possible decisions for crisis management. Puerto Rico was bad enough, but he has outdone himself, completely screwing up the response to the pandemic. I don't believe there has been one day where his popularity hit 50%