Bearish Investors Sell Stocks, Buy Lottery Tickets

Discussion in 'Wall St. News' started by ajacobson, Oct 18, 2018.

  1. ajacobson

    ajacobson

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    OCTOBER 18, 2018 View in browser


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    DAILY INSIGHTS FOR INVESTORS


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    Bearish Investors Sell Stocks, Buy Lottery Tickets


    Market pessimists certainly had their way with stocks on Thursday, driving the Dow down a convincing 1.3% to 25,379. It was worse for the tech-heavy Nasdaq Composite, which dropped 2.1% to 7,485 as Facebook (FB, -2.8%) continued its multi-month slide amid a shareholder proposal to oust CEO Mark Zuckerberg as chairman. Wednesday's hawkish Federal Reserve minutes, lousy housing-starts data and fresh concerns about international markets added to the recent bearish din surrounding stocks. The Dow has now dropped in seven of the past 10 trading sessions.
     
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