Dow Jones plunges 660 points, NZ Herald focuses on brawls, fetish photos & naked hack scandals
Dow Jones plunges 660 points on weak UN manufacturing data and Apple’s dire warning on China while NZ Herald leads with Hip Hop brawls, Kiwi woman fetish photos and WWE naked photo scandal.
Look I appreciate that the kids are running the newsrooms over the holidays, but these large economic meltdowns have enormous impacts on us and could be the harbinger of an economic recession. Millennials who normally staff the social media feeds are left to do the big stories and this didn’t appear as a lead until after midday.
Maybe explain to the Millennial staff the impact this will have on the price of avocados and it might get some coverage? How about suggesting the Stock Exchange liked a Louis CK joke on Twitter or did a micro aggression against trans inclusion?
Could the economic armageddon get some coverage then?
To be fair on the Herald, I didn’t;t even bother checking if Stuff covered it, because why would you read Stuff for insight?
Is there any chance at all that critical journalism like Hip Hop brawls, Kiwi woman fetish photos and WWE naked photo scandals all be behind the Herald’s looming paywall?
Please?
The Dow Jones is like, 30 companies. Its just its American. So people assume it’s the most awesome thing. Its like making assumptions on the state of the economy based on how well Mcdonald’s and lipstick sales are doing. Its a half legitimate measure, but its not the be all and end all.
“The index is also price weighted; therefore, since there are only 30 constituents and those are price weighted, the overall performance of the Dow is driven by a few, high-priced stocks. In a simple example, this means that in practice, a company with a market capitalization of $10 billion and a share price of $50 would have twice the impact on the overall movement of the index then a company with a market capitalization of $20 billion with a stock price of $25 share.
That means that the biggest component of the Dow right now, Boeing, has over nine times the impact of the smallest-weighted component of the Dow at this time, General Electric.”
https://thehill.com/blogs/pundits-blog/finance/345136-dont-confuse-dow-jones-records-for-overall-economic-prosperity
On the bright side it was up by almost 750 points today, more than nullifying the 660 drop. Investors clearly don’t know what to think at this point, which means it definitely could go either way.
This on a massive rise at opening and after a meeting just before opening between the fed chief and the top bankers. Just like the remarkable recovery the week before , starting first thing in the morning with a massive rise and then tapering off through the day though continuing to rise through steps and reverses. Also immediately following an unusual announcement of a meeting between the fed chief and the top bankers.
I’m quite sure they are using fiat money to prevent a collapse. Watch the pattern continue.
D J S
Absolutely. The market is clearly being manipulated in an attempt to stave off uncontrolled/catastrophic selling (see PPT). Doesn’t make the headline figures any less “real” though. You can very much sell your stocks right now for the current listed prices; if I had stocks, I would be doing just that.
https://en.wikipedia.org/wiki/Working_Group_on_Financial_Markets