Welcome to Medary.com Wednesday, May 22 2024 @ 08:10 AM CST

Let's call it the 'Pelosi Plunge'

  • Contributed by:
  • Views: 2,378
Re: today's stock market selloff--we might as well blame the new sheriff in town . . . Nancy Pelosi.

So, in honor of the Democrats' craven spineless opportunistic policies on, well, everything, I dub this little stock market move:

The Pelosi Plunge.

UPDATE:  So, what's happening?  Apparently, the trouble started in the Shanghai market, over concerns that the Chinese government will hit the brakes by raising interest rates and/or reducing the money supply in China.  That was the first domino to fall.

What's curious is the 200-point drop in the U.S. markets at 3 pm EST.  Somebody kicked in a bigtime sell program.  Who, and why, we're yet to find out.

UPDATE 2:  Apparently, the 200-point drop was due to Dow Jones' computers melting down due to the volume of trades.  Probably no conspiracy theory there.