Worst day ever for the stock market!

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The weakness continued Monday as investors read the headlines over the weekend. When the Dow falls over 100 points on a Friday, as long as the following Monday is not a holiday the Dow has been negative 68% of the time since 1985. Today the Dow 30 was lower by a whopping 1175 points, the S&P 500 lost 113, and the Nasdaq 100 sold off 273. The market performance even caused the White House to express concern.

Financial stocks led the way doan today as Wells Fargo (NYSE: WFC) shares were the major headline today. The stock fell 9% as the Federal Reserve announced on Friday that they would restrict the size of the bank due to “widespread abuses.” Though investors have been fleeing from the bank lately the Fed says that they may not grow their total assets until “sufficient improvements” are made. Almost every analyst downgraded the stock today on the news.

In the Dow, Intel (NASDAQ: INTC) and Apple (NASDAQ: APPL) were some of the names that made headlines as news that Apple may start to look at Intel for chips in their iPhones came out early on. Up until this point Qualcomm (NASDAQ: QCOM) has been the major supplier but that relationship has been rocky at best. Intel was lower on the day by 3.5%, Apple lost 2.5%, and Qualcomm sold off 6.57% on the news.

In the S&P 500, Mattel (NYSE: MAT) was once again one of the leaders as investors continue to support the earnings results and company plans going forward. The company has suffered from the trend of more digital entertainment from the younger population but their efforts to move into that space have started to attract investors to the name. Earnings did disappoint thanks to weak sales in their Fischer Price and American Girl brands.

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"We don't want people scared.. just a little concerned.." lol

XodustheParadoX

Well, looking everywhere in YouTube, no one seems to mention Fed placing Wells Fargo in the penalty box except you as a trigger. Just want to say, great research and reporting. Keep up the awesome work!!!

stanley

Great video. Would love to see this analysis and commentary on regular basis as I am new to this and learning.

greysign

Since the beginning of last week i went just over 13% gains to 3.5% gains. I'm gonna be throwing some extra into my investments this week. Gotta get them low prices.

tylertucker

Great day, it's been awhile since we had a good fire sale. Keep it coming!

donalddesamours

You bought the dip. Great channel with good market comments/analysis.

gainde

What's the reason for this? What's the cause?

kingofburgundy

Also I'm very new to the stock market. At a time like this if I'm looking to buy. What's a safe company to invest in?

Nvme

Worst day ever? You are old enough to remember Black Monday? I really don't think that 4% in any way shape or form compares to 22.6%?

jeffreylevin

Sir, what do you think about developing countries market outlook ? Especially India.

Is major correction ahead of us ?

psjoshi

Sadly I didn't buy more shares of a solid EFT for future usage.

kevinfranzen

What does this mean for Wells Fargo customers. I bank with them should I close my account?

Nvme

If you had lived the 2000-2002 bear market this looks like child play.

MarioRossi-shuk

Plot twist, Canadian weed somehow stayed in the green!

ZenoxDemin

The correction this time around is much deeper than anything have happened in the past. A part of it is about 65% trades are automated by computers plus stocks were up too high and too fast.

MP-fmip