Posted on 03/09/2020 11:41:24 AM PDT by Enlightened1
Stocks cratered Monday as investors grappled with the sinking price of oil and the spread of the coronavirus.
The Dow Jones Industrial Average tanked 2,043 points, or 7.9%, on pace for its worst day since December 2008. The S&P 500 plunged 7.5%. The massive sell-off triggered a key market circuit breaker minutes after the opening bell. Trading was halted for 15 minutes until reopening at 9:49 a.m. ET.
The sharp declines followed a roller-coaster week that saw the S&P 500 swing up or down more than 2.5% for four days straight. While Monday’s drop was significant, it still didn’t crack the 20 worst days for the S&P 500.
(Excerpt) Read more at cnbc.com ...
The under 40’s are definitely that dumb.
30+ years of public school indoctrination and mis-teaching has done its job.
Source links:
Yes.
Other World War II kids should remember singing about accentuating the "positive."
Frightened people will respond to positive words from a father figure in a positive way.
$dwcpf (SMALL CAPS?):P
down -9.2 a minute ago. yikes
Are the Rats wet dreams becoming to reality?
Talk about what? Washing you hands? Dont hoard toilet paper? Dont cough on people?
Time to consider suspending trading?
Nothing says Free Market like suspending trading.
The US economy runs on oil!!! Falling prices means big economic boost is in the cards.
Im honestly glad the market is down. Ive been worried it has been going up too fast and a huge bubble would burst ala tech bubble and housing bubble.
I look at this as a check and the market gets back to reasonable growth rate, not a boom rate.
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And I was worried that the correction would happen just before the election. Maybe it’s good to happen now.
See my #19 & 25.
The ones really panicking are the Mullahs in Iran.
Way too early.
I do not believe this was coordinated as it is the logical (and predictable) reaction to the radical shift in the energy market and to a lesser extent ongoing fears and impacts about the corona virus.
While I agree with your premise that there are many people who would deliberately tank the economy, I don’t think they anticipated the Saudis would act so boldly in their own interest (against Russia and Iran).
The fundamentals remain very strong in the U.S. and there are many upsides to cheaper oil despite a negative impact on smaller energy companies that need higher prices.
Market is imploding.
Global recession is imminent.
Im considering haulting my refi until interest rates are negative! It already dropped .75 since I applied a few weeks ago! Might even ask for some equity back to buy stocks! Great opportunity coming because of all the needless fear.
Oil prices are based on 42 gallons per barrel, not 55 gallons. Don’t know the history on that, but that’s the way it has been for maybe a hundred years.
“America will return to the dying state Obama put it in.....no jobs, no opportunities, no equality, no growing economy, no hope, no future”
The Obama was lackluster - exactly what an economy should be.
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