By Pam Martens and Russ Martens: December 1, 2021 ~
Frightened Wall Street TraderIf you’re a stock market watcher you might want to invest in a neck brace if today’s whipsawing action is any gauge of what’s ahead.
Just this morning we warned our readers to buckle up for the unwinding of the massive stock market bubble that Fed Chair Powell has been feeding with his keys to an unlimited, electronic-money printing press and his zero-interest-rate policy.
As if on cue, the Dow Jones Industrial Average put on a firework display today, first zooming to an intra-day high of 35,004.64, then plunging to a low of 34,006.98. By the closing bell, the Dow was down 461.68.
The decline in the Dow began shortly after 11 a.m. – almost three hours before the news broke that the first case of the new COVID variant, Omicron, had been reported in California. An Associated Press report was aired by Fox News at 1:52 p.m. indicating that the reported case came from a fully vaccinated person who had returned from South Africa on November 22, according to the CDC.