I don't usually go full economics here.
And, yes, I do understand there was a significant legal action in which the government has frozen the market size of Wells Fargo, the third largest bank in the country, to end-2017 levels, a significant action which has dropped the stock itself 10%, and probably more to come.
But still...
About 2 Eastern this afternoon, market was only off about 350 points.
I say "only", because by 3:10, the market was off over 1,400 points. (For the record, they were STILL a thousand points from a circuit-breaker shutdown!)
On the close on January 26th, the Dow 30 was at 26,616.71.
Today, after losing 1,175 points today (and 830 or so of them in the last 2 hours, in which the market went from down 350 to down 1400 to about 700 down to about 1,200 down to a final loss of 1175 for the day at 24,345.75.
That's 2,275 points or so since the 26th, about 8 1/2%.
Why am I going through all this on a sports conspiracy blog?
Well, it'd be one thing to find out that the Patriots' dynasty had a lot of money in the stock market, and they know what happened and all... That'd be almost comedic to what I think this is...
Wells Fargo this is NOT. It'd explain maybe part of today's 1175, but you not only have 1000 more to account for, but there's a lot more to be said.
What I think this is is what I've feared for this next month, only accelerated after the Hawaii false missile scare: Something's going down in PyeongChang.
And I think it might make Berlin 1972 tame in comparison. This Olympic movement has dodged numerous bullets (literal and figurative) in the last 20 years or so.
You now have a Russian puppet as American President, with a Russian dictator pissed off that a state-sponsored doping situation to rig an entire Winter Olympics has his government disqualified from the Olympic movement.
This ain't ending quietly -- and, like "Bettor X", I think people know about it.
No comments:
Post a Comment