All 2018 gains wiped out. Hopefully we see a major uptick tomorrow....otherwise we'll be a lot poorer by this weekend.
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corporations and wealthy have had an impact. These companies were already sitting on piles of money so a tax break did not make them go out and start spending. The GOP was warned that this great tax break would add trillions to the debt. The tax money is not coming in. Meanwhile Trump wants to spend billions more on defense-much of it appropriate. There is a shortfall so the government has to borrow money which drives investors out of the market.
Also, as predicted, with a shortfall the GOP will now have to start pushing "reforms" in social security, welfare, etc.
His reckless spending and trade wars will ultimately hurt the economy badly.
Obvious.
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Only people gaining or losing money are options speculators. The rest of us are in the market long term.
Options folks love days like this, and then they drive that bitch right back up the next day.
The question is whether, after a 300 point bump on the open, it sustains.
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I think we are seeing a correction though and not a blip.