Posted on 03/08/2020 8:12:46 PM PDT by david1292
Sharp declines in U.S. stock index futures triggered trading curbs meant to slow panicked markets as the price of oil fell by more than 30 percent and bond yields crashed amid heightened worries over the coronavirus.
E-mini futures on the S&P 500 dropped by 5 percent in overnight trading Sunday, triggering automatic trading curbs that kick-in when the price falls below 5 percent of the closing price of the referenced index Friday. As a result, the futures contract cannot trade at a lower price until the cash market opens at 9:30 a.m., although trades may still be made at higher prices.
The last time futures trading hit the overnight limit was election night of 2016, when markets initially sold off following the news that Donald Trump had won the election. That selling pressure quickly subsided and the major indexes closed up by around 1 percent or so the following day.
The E-mini is an electronically traded futures contract based on the underlying S&P 500 index. The contracts are around one-fifth the size of the standard S&P futures contracts, earning them the monicker “mini.” They are considered highly liquid and are widely traded but they have, in a few past episodes, been prone to so-called “flash crashes.”
Futures for the Dow Jones Industrial Average and the Nasdaq Composite remain above the level that would trigger curbs in those contracts.
(Excerpt) Read more at breitbart.com ...
Ok, please stop posting things that will help you. That is stupid when we should all be thinking about the USA and not individual situations and stocks..
That drop in 2016 was clearly some kind of manipulation. Soros is the obvious suspect. Could something similar be happening now?
If you don't like the answers then reconsider asking the questions.
And I'm a Quack....
Many small to mid-sized oil & gas producers are vulnerable due to crashing prices. Chesapeake Energy is an obvious candidate for bankruptcy.
Human sacrifice! Dogs and cats living together! Mass hysteria!
I think we are in a pickle for at least a week or three. There is a price war for oil at a time when demand is low. Lets hope things are spring loading for a big fat juicy bounce in a couple months when the worst of this is over. I think it is fair to say that anyone who has an opinion of the events for the next month is pure speculation.
This ain’t that.
Carnage.
I went all cash a month ago
I saw QT gas for 1.75 in Round Rock TX today.
I am all in for an import tariff on crude oil the will stabilize the domestic price at $50/bbl.
Wait, on Free Republic we have posters lamenting falling oil prices? LOL. This is rich.....
That won’t fix the problem, AFAIK.
Tariffs don’t go to the companies... they go to the government.
And, the big ones are international companies, anyway, so I don’t see what US tariffs would do for them.
“I was surprised that a week or two ago that the Markets were blind to the potential earnings drops associated with the RedCommie virus commerce effects.”
ditto ... i was flabbergasted that the markets weren’t reacting at all then to what was obvious to anyone looking down the road at the various disruptions to the economy, obvious thing like travel and hospitality going down the tubes, supply chain issues out of china, etc. ...
What you are saying is you don't understand how tariffs work. UFB. Think it thru it isn't hard to understand.
I thought we were a net exporter.
You want to impose an export tariff too?
We are a net exporter of ENERGY ( think LNG/coal). We still need to import 6 million BBL/day of crude oil to meet US daily demand. Google it if you one believe me.
LMAO!! How can this be? It's a disaster I tell you. Oil prices falling just before the busy travel season begins.
Yeah, I went with “don’t fight the tape” and didn’t get out fast and thoroughly enough.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.