It dropped because of normal market mechanic during the final day of rebalancing on highly extended stocks. The indexes buy throughout the day, driving prices higher, then the sell balance algorithms run into the close, in order to capture that value. The drop manifest differently depending on the float and volume of the stock.
You can listen to pundits on CNBC, Bloomberg, Schwab, etc, after the market closes to try and figure out the whyβs or let Peter edify you in 3 minutes or less! Nice wrap up.
MARKET RECAP π What a wild and crazy day, the S&P 500 was up in morning but closed the day down 1.2%, losing around $1 trillion in market cap π³
The Fed left interest rates unchanged, as expected.
What the heck is going on??! Letβs talk about it π£οΈ
Peter, unfortunately, the persistent misdirection on the Iran issue between our government, whomever is in charge in Iran, and Bibi, has reached a point where markets are ready to build in added risk and safeguards against a surprise event.
Hopefully, we get better clarity and a cohesive message that is tradable before weeks end or early next week.
If it were not for this war, the S&P may well be on its way to 52,000 and the NQ over 32,000. It is an albatross on trader/investor confidence, feeling like we are playing musical chairs, even for those of us with long-term investments.
Good luck tonight, and although I am rooting for San Antonio, I would be happy to see NYC finally have a reason to put the clips of Willis Reed coming out of the locker room away!
MARKET RECAP π The S&P 500 snapped its 9-day winning streak, losing around $400 billion in market cap today (-0.7%)
What the heck is going on?!? Letβs talk about it π£οΈ
PS: LETS GO @nyknicks BOOYAH! π
@abheea530 Don't take this the wrong way, but inner beauty and happiness arrives when you are comfortable in your natural state, vs a processed version aligned with a different race. You are beautiful in your own skin.
Think about the dad who bought tickets for their excited kid months ago, for the league to intentionally provide an inferior product. With all the tanking and "load management" BS going on, I would not purchase 1 ticket from this league, which is trying to find ways to self-implode.
@Steelersdepot@steelers@steelernation What the heck is going on with Steelers management????
We finally have an opportunity to start a new chapter with a new coaching staff and philosophy, but we're still continuing to entertain holding on the an aged quarterback who should have retired seasons ago????
Why are we intentionally sabotaging what should be a productive rebuilding season?
SMH!!
@MarchMadnessMBB Anyone trying to beat down on Grant Hill for his initial reaction fails to recognize and appreciate that regardless of job, duty or assignment, we are all human first and foremost, thus he was stunned by what happened to his Alma Mater. Itβs easy to say stay professional and unbiased, but Vulcans do not exist in real life, so grace must be given to the inescapable human emotion. Plus, Grant is a fantastic broadcaster and analyst! What a game!
@neiltyson@StarTalkRadio Good day Dr. Tyson. I have thoroughly enjoyed all of your content, through various media for decades and want to thank you for not only the knowledge that you share, but also the manner in which you do it. You are to be commended for your contributions to our holistic enlightenment.
There are so many fact within science, physics and astronomy, but considering all that I have heard, read or seen, as an amateur astronomer, there is one singular fact that actually makes my head explode and instills a strange sense of irrational fear at our size in the universe.
On a further Startalk episode, please address this fact. Electromagnetic radiation travels at the incredible speed of 186,000 miles per second, an incredible speed. The first radio transmission was made well over 100 years ago, on December 12, 1901. For a moment, letβs suspend the realities of interference, power and decay, and make the assumption that this signal was strong enough to propagate through space without attenuation for the past 117 years. My mind actually shatters at the thought that with all of the radio transmissions that have ever happened in human civilization, the furthest any of those transmissions have reached is 0.12% of the way through, not the universe, but our own Milky Way galaxy!!!!
That means that as fast as light travels, and for how long we have been broadcasting such radiation, relative to our the size of our galaxy, those transmissions have essentially gone nowhere.
This is such a mind bending thing to comprehend, I shutter at how insignificant we are in size.
Thank you for your wisdom,
Emery Rudolph