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Dow Drops 1,000 Points This Week — 4 Quotes

1. “The Dow Jones Industrial Average slipped 100.69 points, or 0.4%, to 25,286.49 … Following Monday’s selloff, the stock market lost early gains on Tuesday to end the day in the red. The price of West Texas Intermediate crude oil fell for the 12th day in a row, and China’s October credit and monetary data was softer than expected.”
-Evie Liu, Barrons.

2. “From Hong Kong to New York, stock markets were slammed by a wave of fears about slowing growth, trade wars and higher interest rates … And despite the Dow’s 241-point rally on Wednesday, the index shed 1,300 points, or 5% this month. That hasn’t happened since January 2016. ‘The market is damaged. Sometimes it takes time to get the damage undone,’ said Michael Block, market strategist at Third Seven Advisors, a private wealth management firm.”
-Matt Egan, CNN Business.

3. “I believe the stock market is experiencing a continuation of the selling pressure that began in early October. If investors don’t understand what was behind the selling or what started it then there is hesitation to buy and with continued pressure it leads to an unwillingness to hold stocks especially as the volatility and selling pressure continues.”
-Robert Pavlik, Chief Investment Strategist, SlateStone Wealth.

4. “A broad sell-off in technology companies pulled U.S. stocks sharply lower Monday … The wave of selling snared big names, including Apple, Amazon and Goldman Sachs. Banks, consumer-focused companies, and media and communications stocks all took heavy losses. Crude oil prices fell, erasing early gains and extending a losing streak to 11 days.”
-Associated Press.

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