Just one week after Biden took office we are already seeing the stock market starting to tumble.
The Dow Jones Industrial Average tumbled 525 points at the starting bell, down 1.7% as it dived through its 21-day moving average. The S&P 500 shed 1.9% on the stock market today. The Nasdaq Composite gave up 2%,with Expedia (EXPE), Advanced Micro Devices (AMD) and Xilinx (XLNX) at the bottom of the Nasdaq 100 — down more than 7% apiece.
Now, according to Market Watch, it might not be as bad as it seems.
While the Dow on Wednesday was seeing its biggest one-day skid since around October, market internals suggest investors on the New York Stock Exchange and Nasdaq are buying rather than selling stocks. https://t.co/u2p7xsHVaW pic.twitter.com/kjZV1uyQeP
— MarketWatch (@MarketWatch) January 27, 2021
Only time will tell.
We warned everyone about what the Biden Years could do to the Stock Market.
The Palmieri Report is a Pro-America News Outlet founded by Jacob Palmieri four years ago at the age of 19. Since its founding, it has gotten over 2M pages views and over 20k followers. The Palmieri Report is dedicated to giving people the truth so that they can form their own informed political opinions.