Dow plunges 666 points – worst day since Brexit | Hacker News Reader

Dow plunges 666 points – worst day since Brexit

money.cnn.com

29 pointsbased215 comments

The media gets too hysterical about short term events in the stock market. They tell a just—so story about why the market reacted the way it did and then next week everything will be back to normal like nothing happened. Invest in bitcoin and you’ll realize that a 2.5% move is nothing.

They probably do sensationalize it, but actually I like that this article gives perspective by saying it was the worst since Brexit, right in the title.

Knowing that it's the worst day in 1.5 years is a quantitative summary for lay people of how significant the news is.

In this case, I suspect for people with a particular interest in the market (like those would follow money.cnn.com), this actually is a large event for them.

I think the "dark" connotations of "666" as a symbol add some sensationalism (but the stat it is factual) to the situation (that the economy is taking a negative turn) - thus heating up the headline too.

2.5 on the dow is big. These are real companies selling real things and employing actual people.

Daily stock market moves don’t effect these companies. We could just as easily way up next week and be right back where we were. This is just variance in the market and the event will likely be forgotten in a couple of weeks.

Depends. Many use held stock as collateral on debt. Stock dropping is akin to a drop in credit rating.

The dark web is a vibrant marketplace using cryptocurrencies almost exclusively. The global drug industry is enormous. Not surprisingly the drug cartels don't report their earnings but rest assured they're there.

But they dont measure profits in bitcoins. They use dollars or similar because they too see such value swings as dangerous.

Id still say that most drug deals are done for actual cash. Darkweb sales are the public endpoints of long private chains.

The convenience, discretion, safety, and ability to launder money easily have pushed most drug sales online.

These are real transactions by real people selling real things.

Explainers about the day's move in bitcoin is ever so much more amusing.

Responding here to my own comment. It's one week later and the market moves 567 points, a single day 2.33% gain.

> Invest... bitcoin

lol

Please don't post unsubstantive comments here.

Still up 22% from 1-Feb-2017. You can't really worry about any daily volatility, and even larger/longer corrections happen from time to time in an overall positive trend.

Count me among those who think a pause or dip is necessary now and then.

If prices keep going up it's hard to buy, as Warren Buffet once said.

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