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Rumor Mill News Reading Room, Current Archive

BLOOMBERG: S&P 500 Tumbles in Worst Rout in Almost Two Months. Dow drops almost 900 points

Posted By: NaturalWisdom
Date: Wednesday, 28-Oct-2020 14:45:37
www.rumormill.news/156828

I say 'horse manure' to the reasons given for today's collapse on Wall Street. Those are just lame excuses for the sharp fall in share prices, as the media has been continuously feeding the CV-19 and lockdown mantra while stocks were rising in price. Gold and Silver prices have declined over 1% each in sympathy with today's stock market decline. I suspect that those in the know are adjusting their investment portfolios in anticipation of how they see the U.S. presidential election playing out.
-NW

S&P 500 Tumbles in Worst Rout in Almost Two Months: Markets Wrap
By Sarah Ponczek and Claire Ballentine
Bloomberg
October 28, 2020, 10:46 AM PDT
S&P 500 falls for a third day; VIX volatility index surges. Oil declines below $38 a barrel on concerns about demand

[snip]

Stocks tumbled in the U.S. and Europe as rising coronavirus infections and tougher lockdowns added to worries about the economic hit from the pandemic.

The S&P 500 Index fell about 3%, headed for the biggest drop in seven weeks, amid a surge in Covid-19 hospitalizations, especially in the Midwest. Energy shares sank with oil prices, and technology stocks were also among the worst performers. The VIX Index, a measure of expected U.S. equity volatility, climbed to the highest level since June.

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AN EXPLANATION OF THE FACTIONS