Wall Street Goons Melt Down Over Democratic Wins In Midterm Elections

Investors were licking their chops at the prospect of a red-wave midterm election, but a strong Democratic performance caused markets to tank. Ana Kasparian and Cenk Uygur discuss on The Young Turks. Watch TYT LIVE on weekdays 6-8 pm ET. http://youtube.com/theyoungturks/live

Read more HERE: https://www.cnbc.com/2022/11/08/stock…

“Stocks were lower on Wednesday — following recent market gains — as results of the midterm elections provided no clear answers about who would control Congress yet. A crypto selloff also weighed on markets.

The Dow Jones Industrial Average fell 646.89 points, or about 1.95%, to 32,513.94. The decline was led by Disney, which fell 13.2% after the entertainment giant missed analysts’ estimates on the top and bottom lines. The S&P 500 shed 2.08% to 3,748.57, and the Nasdaq Composite slid 2.48% to 10,353.17.

Stocks fell to session lows during Wednesday afternoon as the price of bitcoin dropped to a new bear market low. The declines occurred after crypto exchange Binance said it’s backing out of plans to acquire its rival FTX, citing the results of a due diligence exam, as well as recent reports of mishandled customer funds and alleged U.S. agency investigations of FTX. The decision weighed on overall risk sentiment and dragged down the tech sector.”

2 thoughts on “Wall Street Goons Melt Down Over Democratic Wins In Midterm Elections

  1. Scottie, this expert on TV should know better than to judge anything by short term reactions in the market. The data supports that under Democrat White Houses, far more jobs are created, the economic growth is better, and the stock perform betters than under Republican White Houses. I would add the most successful GDP growth period in the US occurred when our tax rates were very high and union membership was strong. A healthy, spending middle class is what drives the economy, not giving rich people more money to put in the bank. Data is a better judge of what happens than rhetoric. To be frank, politicians get too much credit and blame for the economy, but if people are going to argue success, then looking at the data might help. Keith

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