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Move to safety sends Nasdaq, S&P 500, and Dow Jones lower again

Mar. 04, 2022 4:01 PM ETS&P 500 Index (SP500)DJIBy: Kim Khan, SA News Editor165 Comments

Economic recession is coming. ‘Fearless Girl’ Statue in front of the Stock Exchange from the Wall Street deserted because of the COVID-19 pandemic.

Alex Potemkin/iStock Unreleased via Getty Images

Investors accelerated their cautious turn on Friday, sending stocks sharply lower and adding to weakness seen in the previous session. Worries surrounding the Russian assault on Ukraine and the future of interest rates continued to

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Comments (165)

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I suspect this is part of a long term plan Putin forged before DT was president. You could even argue that Putin might have activated the plan sooner in DT was in charge because he could have been more certain of the US’s response. It’s all conjecture. DT was right about one thing, the rest of the free world needs to take more responsibility for policing world peace.
ilikebiscuits profile picture
@TheHarlequin He has been fantasizing about getting the USSR gang back together ever since he was a KGB officer in East Germany and thought Gorbachev was a traitor for allowing German re-unification. If he succeeds in Ukraine his next target is probably picked out already.
MathMan1959 profile picture

One of the Baltic states.
I'm here to speak for my Mentor Avi Gilbert.
We have again reached support at 4316.
Time will tell.
Stefan Redlich profile picture
Does anybody think Russia would have invaded under President Trump? Trump is probably on par in terms of lying, deceiving and being unhinged with Putin, so what would Putin have done? Doesn't matter right now anyway but facts are facts that during those 4 years America was energy-independent (at one stage) and there were no new wars started. He apparently got along well with dictators, now that is not something to be proud of but if it prevents even greater evil... I don't know.

Today, everything is just tragic on any dimension. The humanitarian and emotional toll on Ukraine, the fear, the tragedy, the 1000s of dead people, the stigmatization of Russians around the world and the fact that really only one barbaric creature has ultimately triggered all this. Sickening and chilling!
@Stefan Redlich

The significance of the Trump factor in the timing of the Russian invasion is an interesting question. The corollary is whether Biden is a factor. We could go further and ask was Angela Merkel a factor. She was starving the German military of resources in the largest economy in Europe. Maybe the withdrawal from Afghanistan was a factor that eliminated the drain on NATO resources.

I think Putin believed the dependence on Russian hydrocarbons would give him cover for the invasion in that the EU would limit their response. Germany shutdown more reactors. Denmark delayed a NG pipeline from Norway to Poland. A number of LNG terminals are in consideration but not yet in construction. The delay in certifying Nord Stream 2 may have been a sign to Putin that EU would act to start a process of reducing dependence.

Putin has been preparing for years. If he is acting logically, he must have assessed that Russia was at an apex in their preparation and the Democracies at a nadir in a willingness to respond. But is Putin acting logically? Then the question of whether the key factor is political or economic or even militarily is mute. He turned 70 recently. Maybe he sees this as making a mark in Russian history while he still can.
Luckily I’m overweight on oil and fertilizer so today was great for me.
Who Moved My Cheese profile picture
Another example of the morons selling at lows, keeping out of the market until highs return and buying back in. Sometimes I wonder if Buffet is a reincarnation of Darwin.
Diesel profile picture
I'm sure it's algos that do most of the selling. Market goes up when algos want it to go up, goes down when algos decide otherwise. Retail investors can't really move the markets.
@Diesel I totally agree. It’s all a big scam feeding on either fear or greed
Have to laugh. DOW, S&P, NASDAC, and Russell, all down. Just where is this safety that everyone seems to be moving to?
High Yield Seeker profile picture
@webchow My portfolio is up .7% today
Stefan Redlich profile picture
@webchow Commodities! Renewable Energy
@webchow I'm up a minuscule amount today but all through last week in my defensive portfolio, rare and precious metals and energy
Buy at the first sign of the cannons going off
adaret profile picture
If Kim Kardashian and Kanye West get back together, the markets should rally.
bill h illify profile picture
Not much of a short covering…this looks down and a half come Monday…yikes.
Safety Dance profile picture
I'm not alarmed even as we are seemingly on the precipice of WW3. I have trust and faith in our 79.5 year old leader who refuses adamantly to take a mental fitness test of basic cognitive ability.

The shelling of nuclear plants does not alarm me one bit. Nor does the rapidly rising cost of all good and services. Things are fine and I trust my government and my corporate media have my best interests at heart.

Should things escalate to nuclear conflict I will focus on the bright side as many of my favorite stocks would likely be on sale. God bless and have a carefree weekend all.
@Safety Dance
Man woman person camera TV... there, he passed it.

Also he correctly identified a zoo amimal, I think we may have a stable genius on our hands.
ilikebiscuits profile picture
@Safety Dance Panicking during times of crisis rarely pays off financially, but if it makes you more comfortable, sell everything and go hide in your bunker.
Diesel profile picture
Each day it becomes more apparent that this may not be just another correction or pullback in a bull run but more like early stages of a bear market that might last for a while. We might have already seen the top for the year when SPY hit $480 on January 4th.
Wez profile picture

Wow, I don't even have to comment anymore, I can just highlight your sentiments.
@Diesel That would be worrisome, I aint ready for a potential bear market yet.
SivBum profile picture
@Diesel Yes, fiscal spending and fed rates are factors as well. But the big elephant in the China Shop is Putin's brutal invasion of Ukraine.
i would say fair value for nasdaq is at 9500, while its save to nibble around 10500
@karondongotbanned nice... I'm looking at appx 11000... close enough
@jmlewis326 im tracing with regression back since 2010, assuming a nice growth of 15% a year
@karondongotbanned an 80% drop from here would only take us back to 2012..just sayin'
asiantrick profile picture
this choppy market is great for day trading and swing trading. Been making money by trading the low and selling the high on the same stock...lol
@asiantrick yeah, except my boss keeps asking me to do work... the nerve
Diesel profile picture
This has nothing to do with Ukraine. This downtrend started back in November and has been going on for 4 months with every single bump getting sold off. Bulls failed to break $480 and things just fell apart after that. We've been cutting through support levels like hot knife cutting through butter. $470, $460, $450, $440, $430 didn't hold and there is no stop to this plunge anytime soon.

Market literally uses every single excuse to dump further. Someone in Ukraine sneezes and we dump -2%. Reminds me of the bumpy market of 2011 where we'd dump 2-3% every time someone in Greece or Spain were to sneeze.
SivBum profile picture
@Diesel You jest! Think the 20% jump in crude price just in the past few weeks is not on Putin????
Yes the market was struggling before Putin... but Putin is making sure the market does not rally back to highs.

At least we're not in the Russian stock market though... could be a lot worse.
@Diesel that's just reports and journalists. Every day it's "stocks up/down on blah blah blah" it's annoying. I agree with you. Institutional traders trade on growth, value, fundamentals and technicals. The market is down because stocks were overvalued. As the prices go down investor sentiment goes down with it. Raise your hand if you moved your entire portfolio to cash because Russia invaded Ukraine?
The market is pricing in the possibility of a nuclear catastrophe happening because Russia is either too stupid or too incompetent to avoid striking THE LARGEST NUCLEAR PLANT IN EUROPE.
History proves the only thing worse than an overreaction to military aggression by a tyrant is an underreaction. You assume they will think logically, because that's how you think, but they are inherently illogical in their own mind. They are motivated by things entirely different from the average westerner or national leader in democratic countries. Putin's actions make sense in the mind of a warped individual who wants every Ukrainian to leave the country, also known as ethnic cleansing.
@donfdraper if the market was priced for nuclear catastrophe, wouldn't it be $0. I don't imagine there would be need for a stock market if nukes start flying... or perhaps we have different ideas of what "nuclear catastrophe" looks like
@jmlewis326 not nukes flying, Chernobyl 2022 version since Russia has fired on nuclear facilities a couple times in his war. Their military appears grossly inept, if not trying to set off a dirty bomb to ethnic cleanse Ukraine
vooch profile picture

Calm down - the nuclear facility has been secured by the Russians for 5 days now. The locals and the Russian Military are working together to keep the plant safely operating providing cheap power for millions of Ukrainians
DividendNow profile picture
Great day for bargain shopping. I love sales!
wanster profile picture
@JS Invest What do you think of Micron (MU) at $80 ?
Diesel profile picture
Last year we saw the beginning of a bear market in small caps, medium caps, tech growth with high multiples and Chinese stocks. This year large caps and mega caps in America and Europe are joining the party. That's all really.
Who Moved My Cheese profile picture
Another day another market crash. I never knew Russia and Ukraine were the glue, the fabric of our entire social and economic existence. I guess you learn something new every day.
Diesel profile picture
Every day the market dumps for another excuse. We've been in a downtrend since November and it may continue all year long.
@Casino Hop Daddy
good grief.
democracy is the glue.
The implications of the current conflict remains well above your head.
another round of dumb money overreacting to media hysteria about Russia
There is non zero probability of Global World War, and even the possibility of nuclear escalation, Inflation is 10% and higher the Federal reserve can't even raise interest rates above a 1/4 point, and the US leadership isn't qualified to be the head of the condo association at a retirement village in Boca Raton.

And yet Apple trades at 28 x forward earnings.

@JPow's Broker what are the probabilities of global world War and nuclear war?
God, give me grace to accept with serenity
the things that cannot be changed,
Courage to change the things
which should be changed,
and the Wisdom to distinguish
the one from the other.

Living one day at a time,
Enjoying one moment at a time,
Accepting hardship as a pathway to peace,
Taking, as Jesus did,
This sinful world as it is,
Not as I would have it,
Trusting that You will make all things right,
If I surrender to Your will,
So that I may be reasonably happy in this life,
And supremely happy with You forever in the next.


Removing Putin is one of those things which should be changed.
littlecubbie2019 profile picture
@LK106218 amen. May God grant us wisdom and then give us peace with whatever comes our way.

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