TECH STOCKS VOLATILE… Bezos Loses $19 BILLION! AMAZON shares cratering… FACEBOOK Investors on Edge… October sell-off ‘morphing’ into bear market…

TECH STOCKS VOLATILE… 

 

Bezos Loses $19 BILLION!

(Bloomberg) — Jeff Bezos is still the world’s richest person, but he’s a lot closer to No. 2 Bill Gates than just a few months ago.

The Amazon.com Inc. founder lost $19.2 billion over the past two trading days — the most ever in that time, according to the Bloomberg Billionaires Index — amid a global market selloff fueled by fears of further trade tensions. Facebook Inc.’s Mark Zuckerberg held the previous record, set in July, when the social-media giant reported revenue and user growth that missed estimates, lopping $16.5 billion from his fortune.

Technology stocks led Monday’s declines, with the Nasdaq Composite Index sliding to its lowest since April. Shares of Amazon tumbled 6.3 percent, on top of Friday’s 7.8 percent drop, leaving Bezos with $128.1 billion, down from a peak of $167.7 billion early last month.

Bezos Sets New Wealth Record, Losing $19.2 Billion Over Two Days

 

AMAZON shares cratering…

  • Amazon dropped 14 percent in two days, marking its worst two-day tumble since February 2014.
  • The company reported disappointing financial results on Thursday.
  • Tech stocks fell broadly on Monday, with the Nasdaq closing down 1.6 percent.

 

FACEBOOK Investors on Edge

Advertising demand, growth projections and rising costs in addressing safety are items to watch, as it reports earnings

October sell-off ‘morphing’ into bear market…

  • “The rolling bear market continues to make progress and there is growing evidence that it is morphing into a proper cyclical bear market,” Morgan Stanley writes.
  • Morgan Stanley’s top stock strategist is concerned that actions by the Federal Reserve are drying up liquidity more than most investors predicted.
  • The S&P 500 is off more than 8.5 percent from its all-time high in September, while the Dow Jones Industrial Average is off by more than 7.6 percent.

Morgan Stanley disagrees with the rest of Wall Street: The bank’s top strategists are gearing up for a much longer bear market while others are betting the sell-off is short-lived.

“The rolling bear market continues to make progress and there is growing evidence that it is morphing into a proper cyclical bear market in the context of a secular bull,” wrote Michael Wilson, the bank’s chief equity strategist. “We think the evidence is building and the message from Mr. Market is clear: the consensus outlook for earnings growth is too rosy next year.”

Strategists on Wall Street refer to bear markets that are shorter in duration as “cyclical.”

Morgan Stanley is concerned that actions by the Federal Reserve and other central banks are drying up liquidity more than most market participants predicted, putting stocks in a precarious position. The Fed, which influences the financial markets by adjusting the overnight lending rate, has hiked interest rates three times this year and is widely expected to do so again in December.

ALL FANG stocks are now in a bear market. The same consistent pattern is occurring and the feedback loop is resulting in a bear market for half of the S&P. U.S. stocks were up until just recently the last safe haven in global equities but that has suddenly changed. With global quantitative tightening piling up on top of geopolitical issues, what can push the market up to new highs?

 

Dow tumbles more than 200 points led by Boeing, briefly enters correction territory

www.cnbc.com/2018/10/29/stock-market-dow-futures-seen-lower-amid-earnings-season-worries.html

Markets: Indexes, Bonds, Forex, Key Commodities, ETFs

www.cnbc.com/markets/

Dow swings more than 900 points as stocks end lower on U.S.-China trade worries – MarketWatch

www.marketwatch.com/story/stocks-set-to-attempt-rebound-after-last-weeks-slide-2018-10-29

Amazon suffers biggest two-day drop since 2014

www.cnbc.com/2018/10/29/amazon-has-its-biggest-two-day-drop-since-2014.html

Traders making a boatload betting against once-beloved FAANG stocks

www.cnbc.com/2018/10/29/traders-making-a-boatload-betting-against-once-beloved-faang-stocks.html

Dow swings more than 900 points as stocks end lower on U.S.-China trade worries – MarketWatch

www.marketwatch.com/story/stocks-set-to-attempt-rebound-after-last-weeks-slide-2018-10-29

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Analysis: How bears are taking over world stock markets

in.reuters.com/article/global-markets-bears-analysis/analysis-how-bears-are-taking-over-world-stock-markets-idINKCN1MY2EA

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