Nasdaq posts largest one-day percentage drop since early June

Oh no! Not since June!

This is like watching a hockey game: “it’s the first time any player has scored a goal in the history of the game!!! While wearing green socks on a Sunday when the outdoor temp is exactly 72.1643f”

Why did CAT of all companies triple on AI? What they hell are AI bulldozers going to even do?

Oh, right. The prophecy.

https://youtu.be/azEvfD4C6ow

Alternative title: "Fears of tech selloff spark tech selloff"

Covid drops were a true black swan, 6-10% drops. Justified because we shut down the world. We’re still paying for that… You have the crazy crashes like black monday and a few of the days in 08/09. But the worst times are the repricings where there’s suddenly a realization that we haven’t been paying enough attention to the true value of things, and maybe we should have been doing that. That’s the long multi year stagnating bear markets like 1999-2002. I think probably 50-75% haircut is warranted. That doesn’t mean we won’t rise again, but you also have a lot of money held by boomers who just aren’t going to go back in. This is the start of a long decline that is needed to get things back to a normal tracking of reality. It must happen and it’s actually good for everyone to get a stronger sense of the sacrifices we all have to make to build a functional world. We all have to work hard almost our entire lives. It’s just how it is. Robots are going to help this time for sure, that hard work will reward us and our successor generations with longer, healthier lives. But we still need to work hard.

exactly how much percent of a crash would you qualify as the bubble popping? 100% ? 1000%?

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