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\\nWorst Christmas Eve Day in Stock Market History
\\nAs I thought would be the case, it looks like the Grinch Stole the Santa Claus Rally.\\xa0 Normally, the U.S. stock market rallies during the final five trading days of the year between Christmas and New Year\'s Day. But today was not only the worst Christmas Eve day in stock market history, it blew apart the old record.\\xa0 In fact, there has never been a Christmas Eve day where the S&P or the Dow fell by as much as 1%. Today, the Dow Jones dropped better than 650 points - 2.9% on the day.
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\\nOfficially Not a Correction
\\nAlthough the Dow now is the only major index not officially in a bear market (now down 19.15% from its peak), but the S&P 500, which dropped 2.7% today is now down just over 20%.\\xa0 So it\'s now official, Wall Street can stop pretending that it\'s a correction, they have to admit that it\'s a bear market. Now, if they want to hang their had on the Dow, O.K. well they can hang it there maybe for one more trading day, because it\'s not going to take much for the Dow to join the party.\\xa0 Of course, other indexes are extending moves into bear market territory. The Dow Transports are down 25.7%; the NASDAQ just under 24% to the downside.
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\\nThe Russell 2000 Losing Gains Rapidly
\\nThe Russell 2000 is down 27.3%.\\xa0 This index is down better than 5-1/2% since Donald Trump was inaugurated.\\xa0 This was the index that was supposed to benefit the most from Trump\'s economic policies.\\xa0 It\'s still up about 6% since he was elected President. So all that hype is still in there. But at the rate the index is falling, this index is going to lose those gains pretty rapidly. Then, of course, Trump is not going to be able to talk about all the wealth that has been created in the stock market since he\'s been elected, because all that paper wealth will have been destroyed.\\n\\nOur Sponsors:\\n* Check out Rosetta Stone and use my code TODAY for a great deal: https://www.rosettastone.com/ \\n\\nPrivacy & Opt-Out: https://redcircle.com/privacy'