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Lnova : why the tech and chip stock sell off ?
Lnova : sell off because of tariffs?
10baggerbamm OP Lnova : you have the chairman of the FED Thursday last week that overstepped his bounds. he is only supposed to make statements about existing policy not about what might happening in the future because of Donald Trump's election. so he made a statement that was partisan it shows that he is a Democrat and he's acting in the best interest of the democratic party not the country.. his statement was we are in no rush to lower interest rates going forward cuz he believes Trump's policy will be inflationary. so much for him being data dependent so he created the sell-off on Thursday and Friday.
the market always overreacts to the downside more than the upside
. Trump is going to use tariffs as a point of negotiating with other countries he is not going to destroy the technology industry he's not going to destroy American ingenuity because that is one thing this country has that no other country has.. I should say nowhere is remotely close to the technology development evolution that occurs in the United States. the market doesn't care they will sell everything down
biotech and pharmaceuticals were completely derailed starting Thursday continuing Friday and I suspect this week because of Trump's appointment of RFK Jr and the media is having a field day saying that he is an anti-vax advocate. again you can listen to RFK Junior last Friday when he was speaking and he said I am not anti-vax I want full disclosure so people can make what they believe to be the right decision for their health needs.. but everybody excluding Fox Business did not play this part they just keep saying anti-vax and he's going to go after biotech and pharmaceutical. these will sell off the point is he's not going to destroy these companies disclosure is what he is going after.. so they too will recover at some point in time in the future just as chip stocks will and Chip stocks will ultimately set new highs again at some point in time
Lnova 10baggerbamm OP : Oh okay yeah I forgot about the press thing with Powell. It had a bad effect on the market? I just saw that Friday wasn’t good but I don’t know why.
With RFK I guess it’s just that he is anti mandatory vaccinations- like schools making it mandatory. Saying his reason was due to side effects of the vaccines, and I think because the vaccines were developed so recently, that it’s still not known what the long term effects of them could be, if any.
What position did Trump put RFK in?
Lnova 10baggerbamm OP : I guess more accurate description would be that RFK is basically like pro-choice when it comes to the vaccine. Because he doesn’t seem against people getting vaccinated, but is against it being mandatory
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