China Frantically Shuts Down Stock Market to Prevent Coronavirus Selloff

CCN ^ | 01/28/20 | William Ebb

[Oldeconomybuyer]

Lllleeeetttssssss get ready to RUMBLE!!

[Buttons12]

China shuts down market because of coronavirus.
China invents the neck tourniquet.

[edwinland]

Note this is yesterday’s news so already priced into the US market.

“Is The United States Next? ...
Companies with significant exposure to China have already posted significant declines with Apple (NASDAQ:AAPL) and American Airlines (NASDAQ:AAL) down 3% and 8%, respectively.”

And today AAPL is up 5% on strong earnings.

[Mr. K]

Does anyone know today’s numbers?

It seemed to be doubling every 2 or 3 days

It was 6,000 yesterday

If it hits 10,000 today or tomorrow then they still don’t have a handle on it.

[Jewbacca]

On the bright side, NetFlix, Amazon Prime, and Hulu will go up as everyone decides to stay home for a month.

(Or is told to do so.)

[goldstategop]

Its like a reactor meltdown. Economic collapse in China would be the end of an era.

The Communist Party is dreading the future.

[Zhang Fei]

Basically, people are going to sell where they can. That’s why stock markets that are still open suddenly went into reverse.

[MattMusson]

Will China continue to be a united country?

Not for much longer.

[goldstategop]

If the Communist Mandate from Heaven ends, what follows? No one knows.

[Zhang Fei]

This is Xi Jinping’s incompetence at work again. China’s misfortune is to be ruled by moronic and incompetent megalomaniacs.

[goldstategop]

A dictatorship is supposed to be efficient and responsive and it can’t even handle a pandemic.

The irony of what the Chinese government is up against isn’t lost on Chinese.

[DownInFlames]

The numbers are doubling every 2.5 days.

[Bayard]

Possibly, those companies that were waiting to move out probably will start cutting losses much sooner, this could be a burst in the dam that China has been using to prop up its economy.

Or not, depends on how vicious the Coronovirus is.

[goldstategop]

Too little too late. China’s obsession with secrecy and information control has come at a huge cost.

[RushIsMyTeddyBear]

https://bnonews.com/index.php/2020/01/the-latest-coronavirus-cases/

[Black Agnes]

I suspect the map of China in 2 years will look like the map of USSR in 1989 vs. 1992.

[null and void]

Economic implications, not a formal Bring Out Your Dead ping...

[goldstategop]

The stock market being shut down shows the effect is catastrophic.

Wuhan is like the Chicago of China. Its a major arterial transportation and economic hub.

They can work around it but its not going to be easy to supplant it.

[yldstrk]

Why would shutting down the market help?