Stock Market Tanks 600 pts in 10 Mins! Why & What is Next for Stocks?

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Stock market is tanking!! Nasdaq, Dow, and S&P 500 all down today! Why is the stock market going down? I will talk about why the stock market has gone down today. I will also talk about another interesting story that affected stocks today!

Hope you enjoy this video! I will talk about why the stock market is going down today and then why the government might get involved with some stocks. Let me know what you think of these news that just came out! Also let me know if there is any stocks that you will be buying now that the stock market went down.

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Well, folks, not sure if you saw what happened here today, but the stock market fell off a cliff. I mean, absolutely just down in a straight line. Look at what happened. Look at this NASDAQ here today. Literally, it was a really good day, NASDAQ was up to almost like 11,400. And boom in a matter of minutes.

It absolutely tanked through the floor. Let’s go ahead and look at the s&p 500. Same exact thing. s&p 500 was around 3430 a little above that. And just immediately within minutes, it just tanked and I mean, it didn’t like just go down a little bit at a time.

I mean, it just fell like in a straight line like off the side of the green Canyon. absolutely extraordinary. Right? Look at the Dow Jones Industrial Average in a matter of like a 15 minute span.
The Dow Jones Industrial Average fell over 600 points and 15 minutes that’s absolutely extraordinary how much the markets fell and how fast they fell. And why is this well as soon as this news broke, the markets tanked.

Trump says he’s ending stimulus talks with Democrats and tell after the election as soon as that news broke the markets just fell off a cliff and then you add on top of that some other bad news that came out today although this was kind of the the minor news okay House Democrats say Facebook Amazon alphabet otherwise known as Google McDougal Apple enjoy monopoly power and they want to try to go after those companies to a certain extent we’ll look at that in this video as well.

Okay, so in this video we’re gonna talk about what in the heck is going on is the market going lower Hope you guys enjoyed today’s video as always, if you don’t mind smash the thumbs up that helps out the YouTube channel massively.

It helps promote the channel and I very much appreciate all you guys in the thumbs up squad especially as I try to keep you up to date on all these different things that are going on in the market.
You want to know my current stock portfolio check out first link in the description President Donald Trump said Tuesday he has told his administration’s negotiators to en Coronavirus stimulus talks with Democrats until after the November three election.

The declaration holds in ongoing push to send trillions of dollars more in relief to Americans as the outbreak rampages through the US and the economy struggles to recover from virus related shutdowns Treasurer Secretary Stephen minuchin.

And House Speaker Nancy Pelosi spoke for an hour about a relief package on Monday named plan to talk about a possible agreement again Tuesday. Trump who has COVID-19 himself had only three days ago urge the sides to complete a deal after taking no direct role in talks for months.

I have instructed my representatives to stop negotiating until after the election. When immediately after I win. We will pass a major stimulus bill Neff focuses on hard working Americans and small business Trump tweeted Tuesday keyword is immediately after I win.

So here’s what I’m gonna say to you guys. Okay, I’m running for President 2028 and as soon as you guys elect me president, I’m gonna send you so much money you just got to just gotta let me man I’m gonna send you so much money.

Pelosi and minuchin Talk Tuesday afternoon and treasury secretary confirmed that Trump pulled out of discussions. the speaker’s spokesperson drew Hamlin said in a tweet Pelosi quote expressed her disappointment in the President’s decision.

Hamlin wrote in a statement responding to Trump’s tweets Pelosi said the president showed his true colors putting himself first at the expense of the country with the full complicity of the GOP members of Congress she add it so you know, both sides are in our yard, you know, yeah, it’s gonna be what it is gonna be okay.

But it’s just interesting because this also came out here today in his tweets, Trump appeared to argue the US economy does not need any more stimulus. I thought that was interesting because literally just three days ago, he said, our great USA wants and needs stimulus.

So you know, we’re getting very conflicting information here in a matter of just like a 72 hour span of 72 hours ago it’s like we need stimulus now all sudden, we don’t need stimulus and it’s just it’s it’s a big mess. And here’s what’s ended up happening. It’s the big blame game and a everybody that’s used United States of America politics.

We know the blame game, okay. The Democrats say it’s the republicans fault. And the republicans say it’s the democrats fault. It’s a big blame game. And they’ll just continue to blame each other. And it’s the same old same man, all of us that have been the system for a long time. We know how it goes. We know how it goes. It’s the same thing all the time. blame game.

It’s the other party’s fault. It’s always the same thing. But here’s the thing, okay. And I think this is why the market fell 600 plus points. It’s in like a matter of minutes.

Okay, because what if Trump does not win? Okay? What if he doesn’t win? The election member says immediately after I win, we will pass a major stimulus bill. So what happens if he doesn’t win? What happens if Joe Biden wins?

Okay, are we going to have to wait until January at that point to get stimulus done? And keep in mind, you know, if Joe Biden takes office, right, that would be January 20 2021. Right? It’s not like the immediately the second he gets in, it’s like stimulus done. Does that mean? Oh, so now we’re pushing stimulus.

If we even get stimulus done, we’re pushing into like late winter time, maybe early springtime. And what if all sudden, at that point, the site still can’t agree like this is going to be this is going to be a nasty situation, if you’re thinking about stimulus.

And if you’re thinking about if you’re going to receive a stimulus check, or if you’re a business and you think you’re going to receive something on unemployment, all these sorts of things. I mean, this is just gotten thrown up into the air.

I mean, a lot of a lot of the market was kind of expecting there basically to be a deal. And also now it’s like, no, and if I win, there’s going to be a deal. If I don’t, we’ll see. Okay, so this is going to be messy. And I think this is why the market fell 600 plus points in a matter of 15 minutes.

And by the way, pre markets are already down for tomorrow. We’ll see what happens tomorrow. But you know, it’s obviously not the best situation. Remember, the market was prepped for basically $2 trillion, basically to be pumped out there between stimulus checks, state aid, federal aid, aid to businesses, things like that just a lot of money just kind of create a thin air.

So a lot of the market was kind of like you know, prepping up for this and now son as you take that away, it’s a really messy situation. Needless to say, Now also, we do see Roni numbers are starting to go back up a little bit, they are going crazy.

Yep, I remember a lot of people have talked about in the fall time and into the winter, the Roni is going to go crazy again, or at least go to elevated levels, we’re going to see what happens as far as rate now,

it does look like we’re kinda either stable, or we’re kinda on an upward trend just a bit, we’re going to see what happens with that it is something to keep an eye on, because if those numbers get bad enough, some state some local governments will be in a position where they might feel they have to shut things down again,

but I will say if you look at deaths, the numbers are pretty low as a percent in terms of how many people are getting it versus death and it kind of makes me think is a strain weakening? Okay, this is something I’ve kind of thought for the last few months just kind of looking at death rates.

It’s either the healthcare is much better, or maybe that the strain of Roni is actually weakening we’ll see what happens with all this this is absolutely going to be something we all have to keep our eye on.

I mean, you hear a lot in Europe right now that numbers getting worse there’s talks about shutdowns in different countries. We’re gonna have to keep our eye on that okay, it’s it’s a whole situation there. Then you have this house democrats say Facebook, Amazon alphabet Apple enjoy monopoly market power. Okay.

They Democratic Congressional staff report recommends changes to antitrust laws and enforcement that could result in major changes for big tech companies like spinning off or separating parts of their businesses, or making it harder to buy smaller companies.

The staff found after a 16 month investigation into competitive practices at Apple, Amazon, Facebook and Google that the four businesses enjoy monopoly power that needs to be reined in by Congress and enforcers.

In a nearly 450 page report. The Democratic majority staff laid out their takeaways from the hearings, interviews in the 1.3 million documents they scoured throughout the investigation, they conclude that the four big tech companies enjoy monopoly power in suggests Congress take up changes to antitrust laws that could result in parts of the businesses being separated recommendations from democratic staff include imposing structural separations, and prohibiting dominant platforms from entering adjacent lines of business.

This means that the democratic staff recommend solutions, including forcing tech companies to be broken up or imposing business structures that make different lines of businesses functionally separate from the parent company.

For example, this could include a scenario like forcing Google to divest and separate from YouTube or for Facebook to do the same with Instagram and WhatsApp. 

Okay subcommittee Chairman David Cicilline, I guess we can say is names like that, okay has previously referred to this method as a type of Glass Steagall law for the internet referring to the 1930s era law that separated.

Commercial from investment banking, very interesting, okay, preventing dominant platforms from preferencing their own services instead of making them equal terms for equal products and services requiring dominant firms to make their services compatible with competitors.

allow users to transfer their data overriding quote, problematic precedents in antitrust case law requiring the FTC to regularly collect data on concentration increased budgets for the FTC and Department of Justice, antitrust division, strengthen private enforcement by eliminating forced arbitration clauses and limits on class action lawsuits. Whoo.

The Democratic report found that the four tech companies enjoy monopoly power in the following area, Apple distribution of software apps on iOS devices, Amazon, most third party sellers, in many suppliers, Facebook on online advertising in social networking and Google on on line search.

Well, yeah, I mean, we could kind of say that, right. That’s why everybody invest in these companies, because they’re pretty special business models, and they are very dominant in their particular spaces. In a statement, an Amazon spokesperson said, quote, all large organizations attract the attention of regulators.

And we welcome that scrutiny. But large companies are not dominant by definition, in the presumption that success can only be the result of anti competitive behavior is simply wrong. And yet, despite overwhelming evidence, to the contrary, those fallacies are at the core of this regulatory spitballing.

On antitrust, this flawed thinking would have the primary effect of forcing millions of independent retailers out of online stores, thereby depriving these small businesses of one of the fastest and most profitable ways available to reach customers.

for consumers, the result wouldn’t be less choice and higher prices for from enhancing competition, these uninformed notions would instead reduce it representatives from Apple, Facebook and Google were not immediately available to respond to that report.

That’s a very strong and direct statement out of Amazon, they’re powerful. Okay, what I can say about this is who knows what will happen? Okay. You know, there’s been a lot of talk about, you know, these companies, especially since a lot of them have reached trillion dollar plus, that they might try to come after them in that the government might try to do something here, but it gets into such a messy situation.

And once you start going down this route, and also you want to try to split up Amazon, or Apple, or Facebook or Google, it’s like, where do you draw the line at that point in time? Do you also start having to go down the line further and starting to split up those companies?

It’s like, are you looking at just from a perspective of their market caps are so big, or these companies are so big, that, you know, no one else can thrive? Or just the fact that these companies are so great at what they do, right? So that’s where it gets a little different.

It’s a little different than when Rockefeller whoever was buying all the oil wells back in the day, and just trying to buy them up, and basically undercut everybody, it’s a little different. I could go ahead and start a social network tomorrow doesn’t mean Facebook’s gonna try to crush me.

It just might be like, like, Facebook’s just much better than my social network. And nobody wants to join my social network. It’s not like a commoditized business. This is like, can you compete with these guys? And is it because they have some sort of anti competitive like practices out there?

It’s hard to really debate that it’s just these companies are really dang hard to compete with just because they’re so stinking great at what they do. I come out with an awesome phone tomorrow, doesn’t mean anybody’s buying it because everybody loves iPhones. Okay, so something just kind of keep in mind.

Now, Microsoft shareholders, you guys should be rejoicing and like popping champagne bottles tonight. Okay, Microsoft shareholders, you guys weren’t even mentioned in this. It’s all coming after Facebook, Amazon, Google McDougal and apple. Okay, so Microsoft shareholders, you live to fight another day, rejoice.

You guys should be so happy with yourself. Louis, Microsoft has one of the biggest market caps in the world $1.55 trillion on this company. I mean, they are a beast. And they just they just made it through, they just slid right through. So you know, congrats to Microsoft shareholders. Needless to say.

So with this whole situation with no stimulus likely anytime soon. We don’t know what’s going to happen here with this whole stimulus situation. But at least for the immediate month or two, we’re not going to have any stimulus. And then who knows, maybe we don’t have any for four to six months. Or maybe we don’t get any stimulus at all.

Okay, all we know is it’s not looking good for the short term at least in terms of stimulus plus you add on these attacks on the trillion dollar boys club and you add on rich valuations for a lot of stocks and the stock market right. A very rich valuations on a lot of stocks. There’s some definitely like there’s some good deals in the market right now.

But there’s a lot of overvalued stocks we know this Okay, we’ve talked about this many times a lot of rich valuations out there. And that might end up meaning we get lower prices in the short term on stocks which ultimately if you’re a buyer of stocks, this is great news like you should want stocks lower in the short term.

Like Like why why do I need you know, let’s say let’s say FBS at you know, $260 a big, big dog, you know, investment in mind, right? Do I really need a $260 today? Or would I rather have it at $160? I mean, me as a long term investor in that company, I’d much rather have FB at $160 today, rather than 260.

I’m not selling it anyways, whether it’s at 260 or 300, or whatever, I would much rather buy for two for 160, though. So anybody out there that is a long term shareholder, you should be hoping that we get some sort of weakness in the market, I’m talking real weakness where the stock market drops 510 15 20% over the next few weeks, or the next few months, as long as you’re a long term investor,

if you’re retiring tomorrow, different story, but anybody that’s a long term investor in these companies, and you want better deals, we would love better deals. I would love to buy up all the big tech companies I would love to buy Amazon, Apple, Google already on the FB I would love to buy Microsoft,

I would love to buy all those companies, but I would love them for cheaper prices, right? So if we can get those cheaper prices over the next several weeks or several months, I’m all for it. And I think that would be would be like really good for the market overall and a really good for a lot of us long term shareholders. Nevermind, there’s a lot of other beautiful companies out there that have incredibly rich valuations.

And some of those stocks in my opinion should fall 30 4050 plus percent. If we can get those ones to fall like that, that would be tremendous. Once again, for all of us long term investors, for anybody that is is like let’s say you’re somebody out there that you got a bunch of call options on the market,

you’re obviously not in an ideal situation with all sudden a lot of you know potential volatility coming in from the negative side. In the short term. You’re obviously not fan of this, but for 98% of you guys that are not retiring tomorrow and you would love to buy socks for cheaper like you know,

this is all pretty good stuff for you out there. I want to hear from you guys in the comment section. What do you think about us? Where do you think the markets going?

Are you ready to take advantage of deals let me know in the comment section as always, if you guys don’t mind smash the thumbs up that helps YouTube channel out in a massive, massive way. I appreciate each and every one of you that are part of the thumbs up squad.

As always also you subscribe to the channel you have notifications on if you don’t know what it is, but always want to know my current stock portfolio check out firstly in the description. I’ll show you all these stocks I currently hold. Thank you for watching and have a great day.

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