Roughly $11.1 trillion has been wiped away from the U.S. stock market since Jan. 17, the Friday before President Donald Trump took the oath of office and began his second term, according to data from Dow Jones Market Data.

Some $6.6 trillion of that figure was lost on Thursday and Friday alone — the largest two-day wipeout of shareholder value on record, Dow Jones data showed.

    • errer@lemmy.world
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      1 day ago

      Not exactly sure how one is supposed to transfer one’s 401k to government securities on such a short timescale…

      • Mearuu@kbin.melroy.org
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        24 hours ago

        Trump was elected in November. I had every cent moved out of US stocks by mid December. My tax burden is already less than what I would have lost if I kept them money where it was.

        There was plenty of time if you were paying attention. If you didn’t move your money, unfortunately, that’s on you.

        Edit: SPY puts with 20%. The 40% bonds. 30% forex. 10% cash. But what the fuck do I know. I didn’t make any money and you all know exactly what you’re talking about and I’m full of shit.

        • errer@lemmy.world
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          23 hours ago

          It’s a 401k. I can’t move my money out of it without taking a tax penalty.

          • Mearuu@kbin.melroy.org
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            22 hours ago

            Yes there is a tax penalty. as I said in the original comment.

            However, that tax is less than the amount lost since December. As I said in the original comment.

            • errer@lemmy.world
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              15 hours ago

              No it is not. Tax rate is ~20-30%. Market has dropped 10% since November. What is this batshit advice?

            • Opinionhaver@feddit.uk
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              18 hours ago

              I’m not familiar with 401K as I’m not from the US but do you really lose anything when the market dips? Because I don’t think you do unless you start selling at a loss. If you’re not planning on retiring in few years this shouldn’t affect you in any way.

              • vithigar@lemmy.ca
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                17 hours ago

                It’s the same as any other non-liquid asset. Sure, you could argue that the value dropping is only a loss if you sell during the dip, but you’re still better off if you can sell before it happens.

                • Opinionhaver@feddit.uk
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                  16 hours ago

                  I don’t really see how you’re “better off” unless you then go and buy the dip too. If your retirement is decades ahead then simply holding and buying is what will very likely be the best bet on a long term. Historically speaking so far this has been the case. Reacting to short term events is how people lose their savings on the stock market.

                  • 13igTyme@lemmy.world
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                    15 hours ago

                    That’s correct. If you are far from retirement just hold. I could have sold high if I timed it and bought it when low, but it’s impossible to know when the best time is to re-enter the market. As it stands my Roth and other investments will continue to pay dividends that then go directly back into buying more stock. I’ll end up buying the dip without actually spending money.

                    My 401k is through work and my 403b is through my old work. Investments through work places have some option, but generally you don’t get to decide other than what percentage of bonds and US stock. Some will separate foreign stock, just depends on the broker.

    • AlecSadler@sh.itjust.works
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      1 day ago

      I don’t understand then, are they just bilking each other?

      If the billionaires are buying en masse to profit off this, someone is selling. If billionaires own the majority…they’re…selling to each other and losing?

      • ReallyActuallyFrankenstein@lemmynsfw.com
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        1 day ago

        A potential explanation is this is the Russian fall of communism / transition to oligarchy moment, where regular people will get rid of the “worthless” stocks fearing no bottom, and the top 1% will buy them for pennies on the dollar.