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Friday, Apr 20th

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Dow Jones plunges 1,000 points as inflation fears spook investors

Stock Market plunges more than 1000 points

Wall Street was on Thursday heading for its toughest week in more than two years after fears of higher interest rates led to a fresh plunge in New York stocks.

Another day of wild swings in the financial markets saw more than 1,000 points wiped off the Dow Jones industrial average – a loss for the day of over 4%. It was the third drop of more than 500 points for the Dow in the last five days and the Dow is now down 10% from its peak on 26 January, a fall known as a “correction”.

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U.S. Stocks Plummet, Erasing Gains for the Year

US stocks plummetU.S. stocks plunged, sending the Dow Jones Industrial Average down almost 1,600 points, as major averages erased gains for the year. Treasuries rallied and gold rose on haven demand.

Equity selling accelerated shortly after 3 p.m. in New York, with the Dow sinking more than 800 points in a matter of 10 minutes only to snap back 10 minutes later. The index remained lower by 4 percent, or 1,000 points -- its steepest drop since Aug. 24, 2015. The S&P 500 Index traced a similar trajectory, though its decline stood at 3 percent. Both are now lower for the year. The Cboe Volatility Index more than doubled to its highest level in 2 1/2 years.

TVNL Comment:  This was the biggest single day loss ever.  Trump took credit for the rise, so let's all thank him for the loss.  Or, we can wait for him to blame Hillary....

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Dow plummets 665 points, capping worst week in 2 years

Stock Market

U.S. stocks fell sharply on Friday after a stronger-than-expected jobs report sent interest rates higher.

The Dow Jones industrial average dropped 665.75 points to close at 25,520.96, capping off the index's sixth-largest points decline ever. The 30-stock index also fell below 26,000. Friday also marked the first time since June 2016 that the Dow fell at least 500 points.

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Bombardier Gets Surprise Win After U.S. Rebuffs Boeing Trade Case

Bombadier wins right to ship to US without tariffBombardier Inc. can start shipping C Series jets to Delta Air Lines Inc. as scheduled after a surprise ruling by a U.S. trade tribunal that said the proposed imports won’t hurt American industry.

U.S. companies and workers aren’t being harmed by sales of 100- to-150-seat aircraft from Canada, the International Trade Commission said Friday. The panel’s ruling blocks a Commerce Department decision last month to impose duties of almost 300 percent.

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Trump's slap at 'fake' media draws boos, hisses from Davos crowd

Trump hissed over 'fake news' comment at DavosPresident Trump's swipe at the "fake" news media Friday at the World Economic Forum prompted some hissing and booing from the audience.

During a question-and-answer session with the forum’s founder after his main speech to the group, Trump said it wasn’t until he became a politician that he realized “how nasty, how mean, how vicious and how fake the press can be.”

The comment prompted some scorn from the room.

He had been asked by founder Klaus Schwab about how his past experiences had prepared him for the Oval Office. Trump noted that a businessman had never been elected president.

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Study: 82% of World’s Money Was Made by the Top 1% Last Year

82% of world's money was made by 1% of word's people

The gap between the super rich and the rest of the world widened last year as wealth continued to be owned by a small minority, Oxfam has claimed.

Some 82% of money generated last year went to the richest 1% of the global population while the poorest half saw no increase at all, the charity said.

Oxfam said its figures - which critics have queried - showed a failing system.

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World’s Wealthiest Billionaires Got Nearly $1 Trillion Richer In 2017: Bloomberg

money goes to moneyThe rich aren’t just getting richer — they’re getting much, much richer.

Citing its Billionaires Index, Bloomberg reported Wednesday that the world’s 500 wealthiest people became almost $1 trillion richer ― that’s $1,000,000,000,000 ― in 2017, thanks largely to booming stock markets. For comparison, that’s over four times as much wealth as they gained last year.

Amazon founder Jeff Bezos, the world’s richest person, saw the biggest gain in wealth in 2017. He added $34.2 billion to his net worth, which now totals $100 billion.

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