China Frantically Shuts Down Stock Market to Prevent Coronavirus Selloff

Chinese authorities have decided to suspend trading on the nation's two major stock exchanges. This comes after fears of a coronavirus crash.

Chinese authorities have announced that stock markets in Shanghai and Shenzhen will remain closed until next Monday as fears over coronavirus continue to swirl. But it may not be enough to stop a selloff once markets reopen next week.| Image: shutterstock.com

Chinese authorities have decided to suspend trading on the Shanghai and Shenzhen stock exchanges.
This move comes as the Wuhan coronavirus outbreak grows in size and severity.
The government is kicking the can down the road. Investors can expect a massive correction when trading resumes next Monday.

China’s financial markets will remain shuttered until Feb. 3 due to coronavirus fears, according to separate announcements from the Shanghai and Shenzhen exchanges.

The move comes as the Wuhan coronavirus outbreak grows in size and severity with many fearing it may lead to a global recession.

The Chinese government may be trying to delay panic selling until it can get the massive outbreak under control. But this strategy is unlikely to work because of the sheer impact the virus is already having on the nation’s economy. Investors can expect to see a large correction in the Chinese indices when (and if) trading resumes next Monday.

The impact of this crisis is sure to bleed into American markets and may trigger a stock market correction.

Until we see the tens of thousands in Chinese mass graves

That’s something you’ll never see under the CCP. There could already be many mass graces and no on in the West would know.

These outbreaks always start in China and always fizzle out by the time they hit North America.

Those were all naturally occurring viruses - this one has every indication of being an escaped bio-weapon ...

All the other outbreaks of viruses in China were haphazardly covered up, but at no time did they shutter 5% of their economy (that before closing their stock markets)

All the other outbreaks in China were handled as one would expect with civilian authorities leading the way. For this one, they called out the People’s Liberation Army with many troops in Level 4 hazmat suits (full containment). The scale of the outbreak is beyond anything the civilian authorities can contain.

The last time the PLA was called out during an internal crisis was to murder 10,000 people.

Haven’t these foos considered the notion of market clearing? Some people will buy those crashed stocks, and considering that the Chicomms manufacture most of the active ingredients in our antibiotics, their stocks in that sector should go to the moon, as the Chicomms manufacture those items for their own people as well (to deal with secondary infections and so on).

The current claims for a 2% death rate are derived by taking the total number of confirmed deaths (132 as of 06:30 AM ET) over the total number of confirmed cases (6152 as of 06:30 AM ET). That equals 2.14%. However, the total number of recovered cases is 110 as of 06:30 AM ET. That would argue for a survival rate of 1.79% using that logic.

The death rate is probably more accurately measured using the numbers for just those cases that have run their course. That would be a total of 132 deaths plus 110 recovered patients or 224 cases. 132 deaths divided by 224 yields a death rate of 58.93%. Conversely, the survival rate would be 41.07%

Alternatively, if one assumes that the disease runs it course in two weeks (not proven), you could take the total number of deaths and divide it by the total number of confirmed cases on January 14, 2019. Since that was fewer than 200 cases, you would get much worse results.

The most important unknown in all of this: “How accurate are the ‘confirmed’ number from China?

The cognitive storehouse that you mentioned in the other thread is either fleeing to other countries, making money in state run companies, or engaging in a futile effort to rise to the top and take over from Winnie the Flu.

“The most important unknown in all of this: “How accurate are the ‘confirmed’ number from China?”

Virtually no chance, given 1. their historically proven tendency to lie about (i.e., minimize) the numbers, 2. the lack of test kits necessary to definitively establish infection with this particular virus, and 3. deaths occurring outside of a hospital setting that they’re not even aware of.

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