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Earlier today, the liberal mainstream media needed a win after Biden’s horrific press conference last night. So they made up the story that the stock market was doing well, then the market crashed.

Earlier today the rumor was that the markets had changed their minds and the NASDAQ “fix” was over. The AFP reported:

US and European equities mostly moved higher on Thursday, rebounding after a bad day for tech stocks as investors remain nervous about rising global inflation and the prospect of rising interest rates.

The New York Nasdaq was up 1.9% in late morning trading, a day after falling into correction territory – a drop of more than 10% from its most recent peak in November – as companies listed in the he tech-heavy index are more susceptible to prospect of higher borrowing costs.

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However, this report was premature. The markets reversed and fell again and the NASDAQ remained in “correction” territory.

Market surveillance reported this evening:

US equity indices gave up a rebound earlier in the session and turned negative in the last trading hour on Thursday, repeating Wednesday’s volatile pattern and pushing the heavily tech Nasdaq Composite further into correction territory this week.

What happened? The Dow Jones Industrial Average closed down 313.26 points, or 0.9% at 34,715.39.

  • The S&P 500 fell 50.03 points, or 1.1%, to 4,482.73.
  • The Nasdaq Composite was down 186.23 points, or 1.3%, to 14,154.02. At one point, the index rose 2.1%, making it the largest trend reversal on the same day as the Nasdaq Thursday since April 7, 2020.

    Shares fell Wednesday, with the Dow and S&P 500 each about 1%, while the Nasdaq Composite fell 1.2%, leaving it down more than 10% since its record November close and satisfying the definition of market correction.

Now Biden has a market correction in his pot. Just one more thing he has no idea how to deal with.

Candice hat tip

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