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.
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.
Nasdaq 100 futures stopped falling when the contract reached 8,093.25, while the Dow contracts cannot trade below 24,534
Already there...Japanese down 6%.
Could be a 2000 pt drop.
Saudi Arabia has declared war. They said they were opening the spigots even wider. Gas will be a buck fifty and some companies will go bk if that happens.
the deep state / uniparty have played one of their cards with the oil market crash
will Trump and Kudkow be ready for a response tomorrow?
...dogs and cats living together...
A couple of $billion/month is Chinese imports is causing $Trillions in lost market cap. Madness.
An infectious disease doctor has a message about the real epidemic out there
By Andrea Widburg
You know that someone has struck a nerve when his Facebook post about coronavirus has well over 632,000 shares. That’s the case with a post that Abdu Sharkawy, an infectious diseases specialist, wrote about coronavirus. His is the modern version of Franklin Roosevelt’s famous warning to Americans on the occasion of his First Inaugural Address, that “the only thing we have to fear is fear itself.”
Sharkaway works for the University Health Network, which is affiliated with the University of Toronto Faculty of Medicine. It is also the largest health research organization in North America. An infectious disease specialist at this organization must be presumed to have a better knowledge about coronavirus than talking heads on the news or the writers at the New York Times and Washington Post.
Whatever you’ve been thinking about coronavirus, this post will give you some rare clarity on the issue:
I’m a doctor and an Infectious Diseases Specialist. I’ve been at this for more than 20 years seeing sick patients on a daily basis. I have worked in inner city hospitals and in the poorest slums of Africa. HIV-AIDS, Hepatitis,TB, SARS, Measles, Shingles, Whooping cough, Diphtheria...there is little I haven’t been exposed to in my profession. And with notable exception of SARS, very little has left me feeling vulnerable, overwhelmed or downright scared.
I am not scared of Covid-19. I am concerned about the implications of a novel infectious agent that has spread the world over and continues to find new footholds in different soil. I am rightly concerned for the welfare of those who are elderly, in frail health or disenfranchised who stand to suffer mostly, and disproportionately, at the hands of this new scourge. But I am not scared of Covid-19.
What I am scared about is the loss of reason and wave of fear that has induced the masses of society into a spellbinding spiral of panic, stockpiling obscene quantities of anything that could fill a bomb shelter adequately in a post-apocalyptic world. I am scared of the N95 masks that are stolen from hospitals and urgent care clinics where they are actually needed for front line healthcare providers and instead are being donned in airports, malls, and coffee lounges, perpetuating even more fear and suspicion of others. I am scared that our hospitals will be overwhelmed with anyone who thinks they “ probably don’t have it but may as well get checked out no matter what because you just never know...” and those with heart failure, emphysema, pneumonia and strokes will pay the price for overfilled ER waiting rooms with only so many doctors and nurses to assess.
I am scared that travel restrictions will become so far reaching that weddings will be canceled, graduations missed and family reunions will not materialize. And well, even that big party called the Olympic Games...that could be kyboshed too. Can you even
imagine?
I’m scared those same epidemic fears will limit trade, harm partnerships in multiple sectors, business and otherwise and ultimately culminate in a global recession.
But mostly, I’m scared about what message we are telling our kids when faced with a threat. Instead of reason, rationality, openmindedness and altruism, we are telling them to panic, be fearful, suspicious, reactionary and self-interested.
Covid-19 is nowhere near over. It will be coming to a city, a hospital, a friend, even a family member near you at some point. Expect it. Stop waiting to be surprised further. The fact is the virus itself will not likely do much harm when it arrives. But our own behaviors and “fight for yourself above all else” attitude could prove disastrous.
I implore you all. Temper fear with reason, panic with patience and uncertainty with education. We have an opportunity to learn a great deal about health hygiene and limiting the spread of innumerable transmissible diseases in our society. Let’s meet this challenge together in the best spirit of compassion for others, patience, and above all, an unfailing effort to seek truth, facts and knowledge as opposed to conjecture, speculation and catastrophizing.
Human sacrifice! Dogs and cats living together! Mass hysteria!
Carnage.
I went all cash a month ago
This whole thing is a first class set up. It has been used to try to destroy the voter’s confidence in the Trump administration.
Think folks, as of tonight, nation wide there 523 cases of the illness and 22 dead, in a nation of 372 million people. The sky isn’t falling, there is no wolf, the volcano is not erupting. It is not a major problem. Those that die are aged and/or ill. Healthy people, in many cases, don’t even know they have it. It’s a scare tactic. The CDC predicts that at least 12,000 Americans will die from the flu in any given year. Roughly, 61,000 people died in the 2017-2018 flu season.
https://en.wikipedia.org/wiki/2017%E2%80%9318_United_States_flu_season
Influenza has already taken the lives of 10,000 Americans this season, according to the U.S. Centers for Disease Control and Prevention. At least 19 million have caught the flu, and an estimated 180,000 became so ill they landed in the hospital. And these are not coronavirus flues. It’s a political tool, not a pandemic.
rwood
Random craziness. Lower oil prices are a major economic stimulus on top of the easing in China and the Fed’s 50 basis point cut. There will be a lag in the economy’s response, but a response there will be. Oddly enough, the fact that oil averaged over $80 in the 2009 to 2014 time frame really slowed down the economic recovery. Oil in the 30’s will be extremely beneficial to the US economy. Frackers will be hurt, but manufacturers will save a ton of money in transportation and materials costs.
All Mondays are back for quite some time.
If people take their money out of stocks, bonds and oil, where is that money going?
This may be a little more severe than retracing the previous bottom, but market opens and closes can be worlds away.
All due to fabricated fear.
China just closed, solidly lower, all the markets I saw...
Perhaps this is contagion from the Lebanon default - aka ‘the first domino’.