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PortoPeople@lemm.ee

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Stock Market Tanks as Trump Unveils Nightmare Cabinet Picks (newrepublic.com)

submitted 1 month ago by PortoPeople@lemm.ee to c/trump_watch@lemm.ee

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[–] DogPeePoo@lemm.ee 52 points 1 month ago (4 children)

Except for one thing.

I read this title, got a little excited, then checked the Nasdaq, Dow, and S&P and all 3 are at all time highs. So is Bitcoin…

What “tanked” exactly. Help me understand this post.

[–] ArbitraryValue@sh.itjust.works 35 points 1 month ago* (last edited 1 month ago)

The article does say

stocks linked to some of the biggest pharmaceutical companies—including Moderna, Pfizer, and Novavax—plummeted to some of their lowest points of the year

and it's true that those particular stocks have gone down, although I wouldn't call a 4% drop a "plummet". The headline is still a deliberate lie and most people just read the headline. Shame on the New Republic.

Also, Pfizer's market cap is about ten times bigger than Moderna's and Moderna's is about ten times bigger that Novavax's. In other words, Pfizer is more than one hundred times bigger than Novavax and putting the two in the same "biggest pharmaceutical companies" category is bullshit.

[–] Blackmist@feddit.uk 10 points 1 month ago

Every article about stock markets thinks that 0.001% up or down for about three seconds is tanking or soaring.

[–] sparky1337@ttrpg.network 2 points 1 month ago

On my E*trade everything is down 🤷‍♂️ not by a ton, just ~300 points or so. Nothing crazy.

[–] SpaceNoodle@lemmy.world -5 points 1 month ago

No, they all went down. Why lie about that?