Top Trump official calls banks amid market rout

newwurldmn said:
It’s a combination of China, rates, government shutdown, and trumps increasingly erratic behavior mixed with the fact that valuations are stretched.
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Well he did say "we'd get tired from all the winning".

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Looks like Munchin was in a hurry. Misspells the name of the Commodity Future Trading Commission.


ajacobson said:
Treasury Secretary Mnuchin held calls with the CEOs of major banks to discuss the market turmoil
  • Treasury Secretary Steven Mnuchin spoke with J.P. Morgan Chase CEO Jamie Dimon, Bank of America's Brian Moynihan, Goldman Sachs' David Solomon, Morgan Stanley's James Gorman, Tim Sloan of Wells Fargo and Michael Corbat of Citigroup.
https://www.cnbc.com/2018/12/23/tre...ajor-banks-to-discuss-the-market-turmoil.html
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This sends a very scary signal to the market. On one hand they claim the economy is strong and now they are asking the plunge protection team to hold up the market? Something is up and its more than quarter point rate hike although that certainly didnt help.
 
ET180 said:
Things fell apart after the Fed spoke and raised interest rates. I don't think China is the primary driver of the market volatility since October. QT and interest rates are a much bigger deal. Behind that would be less foreign investment and then probably trade tariffs.
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Things fell apart after the Dems took the House.
 
LacesOut said:
Markets are forward looking
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Markets started selling off in October. Further according to the conservative press it wasn’t a blue wave. The Democrats did worse than they should have. So perhaps markets are upset the dems didn’t win more?
 
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