Bitcoin crypto mining
- Dow Jones Industrial Moderate (DJIA) futures plummeted 500 aspects after ‘melancholy’ Fed comments.
- Despite a detrimental financial outlook, chairman Jay Powell’s response was once incredibly supportive for the stock market.
- Commentators narrate traders would possibly possibly shrug off the ‘down day’ and we’ll seek but every other leg bigger afterwards.
The stock market took a flip for the extra serious this morning as traders digest final night time’s Federal Reserve assertion. Dow Jones Industrial Moderate (DJIA) futures point to a giant 500 point skedaddle on Thursday.
But why? Powell’s dedication to aid charges at zero for 2 years and continue QE is mega bullish for sources. CNBC’s Man Adami acknowledged traders would possibly possibly respect a day or two for the market to read between the traces.
I’ve seen this movie earlier than… [After a Fed statement] you bear a down day available within the market fully to be followed by some giant monster rip on the subsequent day in some kind of delayed reaction.
Bitcoin crypto mining Dow futures plummet 500 aspects
In a vicious overnight selloff, Dow futures shed 500 aspects (1.9%). The correction is probably going to be a wholesome retrace after a euphoric rally that lured in a wave of retail investor FOMO.