Both major stock indexes nosedived on Monday in the worst day of Christmas Eve trading ever following tweets from President Donald Trump criticizing the Federal Reserve, according to CNBC.
The plummet followed a tumultuous few days in Washington, amid reports that Trump was discussing how to remove Federal Reserve Chairman Jerome Powell.
The Dow Jones Industrial Average dropped 653 points, falling below 22,000, on Monday and the S&P 500 entered a bear market after tanking more than 20 percent from a previous high.
A bear market occurs after a drop of 20 percent or more following a recent high, and is usually associated with long-lasting declines in the stock market, according to CNBC.
The drop came after a 52-week high, CNBC reported.
The Nasdaq fell 2.2 percent, bond prices rose, and the yield on the 10-year Treasury note fell to 2.74 percent.
Trump tweeted criticism of the Federal Reserve on Monday.
"The only problem our economy has is the Fed. They don’t have a feel for the Market, they don’t understand necessary Trade Wars or Strong Dollars or even Democrat Shutdowns over Borders. The Fed is like a powerful golfer who can’t score because he has no touch - he can’t putt!" Trump tweeted.
>implying he or I like (((Trump))) Fuck off Trump lover
Julian Fisher
Good, retarded-ass gamblers all the way in wall st. shouldn't get to have any say over the average persons well being. They deserve to lose everything. We should never have put our quality of life on the lines of companies willing to sell everyone out over stock prices and more more more
Are democrat partisans triying to blame Trump for the Fed types he has critized a million times?
Camden Robinson
Yes. Actually yes. It's the dumbest thing I've seen. He told them over and over again don't raise interest rates or we will face a crash. And they did. And somehow this is Trump's fault.
They're trying to blame it on the trade war with China, which is something that has actually been resolved and won't be discussed again until March. They are trying to blame it on the government shutdown, which doesn't make sense because it only affects 25% of federal workers, all of whom were paid the day before the shutdown. They're trying to blame it on the wall, which I have no comment for because Mexico already approves and has signed a new trade deal with us and Canada already. They're trying to blame it on pulling out of the middle east, which also doesn't make much sense because that should not affect stocks at all.
Do you understand the mind of a Democrat? Because I personally can't.
its okay. if you ever pull your head out of the sand and look in a mirror you might one day
Samuel Barnes
Then enlighten me, instead of the age old tactic Dems tend to pull of "you should know" and never explaining anything. Break that mold and tell me why I'm wrong.
This is why I hate Liberals. You are even more insufferable than magapedes. He made good points all of which are true and your repudiation is you're dumb cause you a conservatard lololololol.
-T. Leftypol
Andrew Howard
What in the world does this do? "Stop… you're partisan hacks?"
Yeah I wish someone would refute my points for once instead of telling me "you're wrong" and going off on a tangent. The state of politics, not only in this country but worldwide, is shameful.
Carter Russell
t. tucker carlson
Jack Butler
I have no idea what you mean by this.
Jaxon Clark
...
Wyatt Rivera
...
Nolan Robinson
All you need to do is refute this post's points
No one has been able to. Will you be the first? No probably not you'll pretend these posts don't exist
Ian Barnes
okay
tariffs aren't lifted. try again
it also means no bills are being passed and it weakens confidence in government to do anything which weakens confidence in economy
if i save money at a grocery store i don't go around saying wal-mart paid for my cars gas
international politics can affect me domestically!? I am shocked!
John Martinez
Stocks were stable throughout this "trade war" fear until just recently, and the most recent event was a relaxation on car tariffs and the agreement to reanalyze it all come March. These are not linked whatsoever
That's irrelevant because congress is supposed to recess during this time anyway. Nothing was going to get passed at all until January when the Democrats take the house, and then it would be more time until then. This shutdown has actually forced congress to work during when they would be recessing, so actually they are doing more work now than if there were no shutdown
I have no idea how this statement relates to what was written there. What in the world did you even just post? Regardless, Mexico isn't going to slam Trump for a wall or cancel trade due to it as was originally feared, evidenced by our new relationship with Mexico via the new trade deal with Canada, Mexico, and us.
Stocks historically do not freefall during the end of a war. The only thing related at all to this is crude oil prices which have already been rocky all year. Neither of these are related.
I'm sorry but you really don't know what you're talking about and it's obviously you're grasping at straws. Especially that third response which had nothing to do with the statement written.
Gabriel Cruz
I'm sorry but you really don't know what you're talking about and it's obviously you're grasping at straws.
Chase Russell
So you're not going to bother responding to any of that? Just wondering, why are you here? What do you plan to accomplish by being this way?
Or even more important, what do you want for this country and what are your goals here? I think that's the more relevant question. It's obvious you're not here to discuss anything, do you even have anything constructive to add at all?
I don't know, I didn't vote for Trump (I was too young to hit the cutoff to vote at all) but from the standpoint of someone who has no "side" to stand for, why can't you at least argue points with an unbiased lens? What do you gain by this?
Benjamin White
Good. I hope this jew-infested shithole crumbles.
Tyler Morales
There are no liberals in the US. The people you're thinking about are Marxists and leftists, and they sure as hell don't give a shit about abstractions like free speech and freedom.
Dominic Morgan
This. I used to consider myself a liberal. Still do. But I guess now I fall under "libertarian" because these Leftists have destroyed what it means to be liberal
Jace Ward
so he is fighting to keep interest rates low by wiping out boomers savings and lets his big money buddies short sell. but the idiot media wants to grind their axe instead of report reality. The Second Term is coming
John Wright
how much short selling is soros doing right now?
Gavin Long
You'll come to understand they're incapable of that. The devil's advocate is a rare form, and it's the mark of extreme intelligence to be able to entertain an idea without taking it seriously. It's how we test ourselves; They do not test themselves.
Nathan Murphy
You are 100% correct
Henry Myers
Here is my Christmas present for you all
Samuel Murphy
Keep posting the flyers. Make the fucker crash and finally something might be done.
Joseph Williams
good lord, you're so gay
Kayden Green
Spot on for everything but tariffs. Tariffs hurt the stock market because it has decreased profits. The response was a reasonable, but now that the fed is increasing interest rates the bubble is popping, boomer will lose their shit and stop spending and the economy is going into a recession. It happens every time. The fed just likes to rock the boat instead a measured approach because big changes means big profits for investment banks and hedge funds.
Elijah Green
bois are you ready for the greatest economic meltdown since the 1929 crisis? and the best thing is, donald trump will be held responsible for it in fact it is the new fed chairman who is popping the bubble
Brayden Wood
Wow, this clip didn't age well..
Bentley Allen
...
Levi Allen
Good, the (((stock market))) can burn in hell.
Michael Cox
The US is going to permanently change after this into a goblino socialist nation
