DOW Takes a Dive while Feds Probe Apple Over Intentionally Slowing Down Older iPhones

by Chris Black

Dow took a dive on Tuesday, plunging 400 points, thus marking its biggest point drop since 2016, when it fell 610 points in June. Due to investors’ fears of higher than expected inflation, the 10 year Treasury yield traded near levels not since since 2014. On Tuesday, the S&P 500 fell 1.2%, the Dow Industrial Average pulled back 400 points, while the NASDAQ composite lost 1.1%. This is the second day in a row US stocks traded significantly lower than expected, marking the first big selloff of 2018. On Monday, the DOW lost 177 points due to the rise in the 10 year treasury yield, with investors getting concerned about the possibility of higher interest rates dousing the bull market.  US stocks traded sharply lower for the last couple of days, and the question is if this is the beginning of the end of the stock market-bubble (correctly acknowledged by President Trump when he was just a candidate) or just a glitch in the matrix. As Peter Schiff keeps repeating to deaf ears, the Donald now owns the stock market bubble, as he bragged  about the stock market reaching record highs all year long, though this is not his fault.
 
All bubbles in the economy are owned by the Federal Reserve, who is now slowly pulling the life support from the US economy by raising interest rates. ZIRP (zero interest rate policy) is now over, so is Quantitative Easing (helicopter money, the pillars of Obama’s “recovery” via fiat/cheap money), and with interest rates raising citing fears of inflation (also created by the FED via its monetary policy), the companies will not be able anymore to buy back their stock via cheap overnight loans. The era of cheap money is over, and Trump will be held accountable for the planned collapse of the US economy sooner rather than later. Just wait and see.
 
It may be a pure coincidence, but as the stock market is starting to show signs of weakness right before Trump’s State of the Union Address (makes you wonder about conspiracy theories) and the FED is preparing to raise interest rates again (I have no doubt they’ll do it at least 2 times this year), we learned that world’s biggest company is being investigated by the U.S. Department of Justice and the Securities and Exchange. The Feds are looking into whether Apple violated the law regarding its disclosures about the now-famous software update that slowed done older smartphones. Is this a mere coincidence? The timing, I mean.  Even if the Federal inquiry is in its early stages, Apple stocks dropped 1,3% on Tuesday in early afternoon trading, to $165.87. Apple shares are already under a lot of pressure due to weaker than expected sales of the iPhone X, not to mention  the tech giant already admitted recently that it intentionally slowed down the performance of their older iPhones via a software update to make the batteries last longer. Is the perfect storm ready to hit? Brace yourselves.

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