No, it was Covid, the Fed predictions, and some profit-taking. Seattle didn’t enter in to it.
Exactly. Stocks fell mostly on the Fed comments from Wednesday PM (after selling off nearly 300 points that day alone, followed by yesterday’s bloodbath).
Big increases in the COVID numbers also spooked investors as that’s likely to cause a slow-down in the re-opening, or perhaps even lead to further lockdowns/restrictions.
The market hates uncertainty, and we got boatloads of increased uncertainty in the last 48 hours.
Seattle is a giant cluster and Trump needs to step in to fix it ASAP, but I seriously doubt yesterday’s market action had much of anything to do with Seattle.
No, it was Covid, the Fed predictions, and some profit-taking.
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The bounce back was too sharp and valuations were still high so I have been taking some money off the table and raising cash.
At some point there will be an effective treatment for this virus. That will alleviate a lot of the anxiety and could give the market a significant lift. JMHO.