Trump meets bank chiefs as coronavirus declared pandemic and Dow tumbles

Market watch ^ | 3/11/20 | Robert Schroeder

[david1292]

President Donald Trump is meeting with the heads of major banks Wednesday amid another sharp selloff in stocks and the declaration of the coronavirus as a pandemic.

Trump’s scheduled 3 p.m. Eastern meeting with the chief executives of Bank of America BAC, -5.65%, Citigroup C, -9.93%, Wells Fargo WFC, -8.61% and other institutions comes as the World Health Organization designated the global spread of COVID-19 a pandemic.

U.S. stocks extended losses, building on declines attributed partly to disappointment over prospects for a quick fiscal stimulus designed to cushion the U.S. economy from the outbreak.

[david1292]

Dow is down 1600 right now, entering bear market.

[CincyRichieRich]

Dems are winning this, destroying the economy, perfect for dictatorship takeover...I posted this elsewhere, but my sentiments still stand:

I just hope there are some in PDJT’s administration who can be trusted to find the root cause, i.e., those responsible for conspiring to do this. Otherwise, there will be virus#2 after this one...sound crazy? When a defense cannot stop a football team from running the football, they keep running the same play. We’ll have no investments left, no jobs, economy totally in chaos, perfect for dictators. Gee, didn’t see that coming.

[Trump.Deplorable]

20K the floor?

[Trump.Deplorable]

Massive lay offs?

Plant shut downs?

Store closings?

Bankruptcies?

Foreclosures?

All this over a virus with less dead then the number of people who tried to testify against the Clintons?

Something isn’t right here

[babble-on]

If it gets to 13,000, I am buying!

[madison10]

They are using C-Virus as an excuse to wreak havoc. Wicked.

[I want the USA back]

perfect for dictatorship takeover.
Absolutely right. The left is always on the lookout for a crisis that it can turn into an advantage. They would be completely happy with a total breakdown of the civil order, and then they would go for the jugular - seize power and institute a marxist way of life.

[Trump.Deplorable]

I am buying at 1K!!!!

Come on Cornyvirus kill more people! I want to buy apple stock at $3 a share

/s

[ProudDeplorable]

WHO adds fuel to the file. Pandemic = Panic. They’re creating a self full filling prophecy: The more people that stay home, the less economic activity = less future job growth.
“Never let a crisis go to waste.”

[1Old Pro]

Massive lay offs? Plant shut downs? Store closings? Bankruptcies? Foreclosures? All this over a virus with less dead then the number of people who tried to testify against the Clintons? Something isn’t right here

The media pulled a fire alarm when there was no fire and the firetrucks that ere dispatched ran over a parade of kids in street, oh well. The media will never be punished for causing this panic and the problems they caused.

[david1292]

As long as Trump is gone, they don’t care. They would rather see the country crash.

I’ve said it before, I have never seen such burning hatred for one person before.

[abb]

They ain’t after Trump. They after me and you and anyone else who won’t conform. And they’re easily capable of killing by any means necessary.

Think Stalin, Mao, Pol Pot. It’s no different.

[nwrep]

The only saving grace is that this is happening now, in March, and not in October. If it happened in October, people would elect not just Biden or Bernie, but even someone as unhinged as Maxine Waters just to get rid of Trump.

[Moonlighter]

I predict a suspiciously early flu season next fall.

[a fool in paradise]

Recall that ABC Fake News caused a stock market dip with a fake report about a fake Russian bombshell

[a fool in paradise]

The same lying media covered up Obama’s October Surprise when terrorists attacked our embassy on 9-11-2012.

Day one our government knew it was a planned attack

[1Old Pro]

. The broadcast by a station of false information concerning a crime or catastrophe violates the FCC's rules if: ◾The station licensee knew that the information was false; ◾Broadcasting the false information directly causes substantial public harm; and ◾It was foreseeable that broadcasting the false information would cause such harm. In this context, a “crime” is an act or omission that makes the offender subject to criminal punishment by law, and a “catastrophe” is a disaster or an imminent disaster involving violent or sudden events affecting the public. The broadcast must cause direct and actual damage to property or to the health or safety of the general public, or diversion of law enforcement or other public health and safety authorities from their duties, and the public harm must begin immediately. If a station airs a disclaimer before the broadcast that clearly characterizes the program as fiction and the disclaimer is presented in a reasonable manner under the circumstances, the program is presumed not to pose foreseeable public harm. sort by News Distortion. The Commission often receives complaints concerning broadcast journalism, such as allegations that stations have aired inaccurate or one-sided news reports or comments, covered stories inadequately, or overly dramatized the events that they cover. For the reasons noted previously, the Commission generally will not intervene in these cases because it would be inconsistent with the First Amendment to replace the journalistic judgment of licensees with our own. However, as public trustees, broadcast licensees may not intentionally distort the news. The FCC has stated that “rigging or slanting the news is a most heinous act against the public interest.” The Commission will investigate a station for news distortion if it receives documented evidence of rigging or slanting, such as testimony or other documentation, from individuals with direct personal knowledge that a licensee or its management engaged in the intentional falsification of the news. Of particular concern would be evidence of the direction to employees from station management to falsify the news. However, absent such a compelling showing, the Commission will not intervene.

[Brian Griffin]

I don’t think banks are going to take a much of a financial hit from this. Their earnings might actually rise as people use credit cards to pay bills and shun the use of cash.

I will pay with my debit card when the virus hits my area.

[Brian Griffin]

The airlines, restaurants, hospitality industry and cruise ship lines will get hit hard by this. The rest of the economy will only get a bit of business delay.

[shanover]

Political bio-warfare. The left as we speak are in their war room and will milk this for all it is worth: sick and dying dead people,crashed economy, societal apocalyptic upheaval zero feks given by the left. They just want to win the next election. They are winning this battle thus far.