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U.S. stocks see biggest 2-day wipeout in history as market loses $11 trillion since Inauguration Day (www.marketwatch.com)

submitted 11 months ago by Redditsux@lemmy.world to c/news@lemmy.world

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Roughly $11.1 trillion has been wiped away from the U.S. stock market since Jan. 17, the Friday before President Donald Trump took the oath of office and began his second term, according to data from Dow Jones Market Data.

Some $6.6 trillion of that figure was lost on Thursday and Friday alone — the largest two-day wipeout of shareholder value on record, Dow Jones data showed.

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[–] AlecSadler@sh.itjust.works 6 points 11 months ago (2 children)

I don't understand then, are they just bilking each other?

If the billionaires are buying en masse to profit off this, someone is selling. If billionaires own the majority...they're...selling to each other and losing?

[–] ReallyActuallyFrankenstein@lemmynsfw.com 14 points 11 months ago

A potential explanation is this is the Russian fall of communism / transition to oligarchy moment, where regular people will get rid of the "worthless" stocks fearing no bottom, and the top 1% will buy them for pennies on the dollar.

[–] Grandwolf319@sh.itjust.works 1 points 11 months ago

What if you short the market?

Putting a lot of money into shorts (money you can barrow mind you), is essentially massively selling stocks you don’t have with the promise of buying them back later.

If a lot of rich people do this, it will trigger a panic sell, get the price low, they buy back the “barrows stocks” at cheaper rate and now they have profit and some people have sold, so the stock is lower.

They can now buy more stocks and we’re back to the first step but with the rich having a higher share than before cause of the panic sellers.