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 ...
Nope, warm weather will not stop it. Look at Singapore, Iran and others where it is HOT now. This crap is different than the flu. People just call it that to downplay the seriousness of this virus.
“Upswing will begin when warm weather arrives and virus starts dying away.”
Unless we enter a full blown recession. I’m worrying about employers seeing this stock news/coronavirus and start laying off employees in droves or stop expansion projects and just plain stop spending
Exactly.
This is a supply side shock because China’s economy is shutting down due to the virus.
We were fools to move so much of our supply chain to China.
Oh and anything to get Trump. You know that powerful people are driving the market down to get him.
The technical picture of the SP500 low today (2734), formed a double bottom with the low of June 3 of last year (2729)
This could be resistance that holds (for a time) and tomorrow will be a big bounce. Never sell on a down day the next day may bring you a gain.
“Iran and others where it is HOT now”
I just checked Tehran weather this week is low to mid 40’s degrees at night and 50’s-low 60’s during the day this week. They get lot’s of snow in much of the country.
f u l l . b l o w n . h y s t e r i a
The market was said to be primarily alarmed by collapsing oil prices today.
Even at ground zero, in Hubei province in China, the new cases are tapering off significantly.
Singapore, Iran, Italy etc were caught unawares about presence of the virus so it is easy to understand why it spread fast. Yes, this virus is definitely more contagious than the Flu, but it has hardly killed anyone under age 60 who has no serious medical issues. No need for most working people to fear covid-19 any more than Flu. I am 79 and just came back from a cruise a week ago. I was not afraid at all because I have zero health issues. If I got the virus, the effects would be mild. I do treadmill for 30 minutes 4 times every week moving at 22 min/mile set 3 deg up slope.
Stop spreading wrong information, Teheran is colder right now at 41 deg F than Chicago. Teheran gets more snow than Chicago every year. It has very cold climate in winters.
Absolutely the worst thing for the health of market long term would be government interference. Such as artificially low interest rates which create bigger bubbles in hard assets and eventually explode viciously. Such as borrowing more debt and doing a stimulus. That does not create any permanent jobs.
The markets are a creation of free markets, and work best when allowed to correct naturally, and not artificially by the gov’t.
So whatever happened to what you heard before I am sure, that low energy prices are good for the economy?
Yeah, it makes complete sense that oil stocks would get hammered due to the oil price war between Russia and Saudi’s. But why is low energy prices bad for airlines, fedex trucks, trucking industry, farming which uses energy, fertilizers would be cheaper, plastics would be cheaper, and we all get cheaper gasoline! Why is that so bad?
What you said is correct. To quote some previous president, the only thing you should fear is spreading fear itself.
There is a common mis-conception that Iran is a hot climate country. Only thing hot is Iran right now are the Islamic hot heads and mullah’s..
Conspiracy? We don’t need no stinkin’ conspiracy!
Here ya’ go. Straight from the horse’s — er — ASS!
The only way to stop Trump would be to introduce a lethal virus on the world and trash the markets and...
Oh wait. They just DID THAT and they (the proles) still love him. They MAY need to start a WAR. That’s worked in the past!
http://50statereport.com/rothschild-donald-trump-is-threatening-to-destroy-the-new-world-order-for-good/?fbclid=IwAR1dqWCsVIMhpNcd_9_d8bvSwl7qKXW4OTB0PNfxnvSPks2cjHmF3smhOYo
Agreed!!
So a wine barrel's volume is 41.52% larger than an oil barrel's.
“So a wine barrel’s volume is 41.52% larger than an oil barrel’s. “
—
I’d venture that it’s worth more, too! Especially after today.
The only possible way to defeat POTUS in November is to tank the economy. Some powers that be, are working hard to do just that.
...
Yes they are...
That said, I’d wager conservatives are even more bent to vote for PDJT...it is another broken glass election.
“There is a common mis-conception that Iran is a hot climate country”
Who was the famous American who was hunting mountain goat there maybe 15 years ago? Waist deep snow in areas and bitter cold.
I was thinking Ted Nugent but probably not him. Maybe Anthony Bourdain
And,direct to the offending demonrat... Twitter. Calls the balls and strikes....as everyone sees them,the demonrat liars. The ones who have always sold big government,by being certain to ruin the economic success of people trying to get ahead.
To create a dependency “class” that only they can “help”. This is a direct effort to ensure people cannot get out of danger,and to get them to enslave themselves to a lying non-solving problem creating govt. run by .... democrats. They revel in the “poor me” victimhood. Nothing about success of independent FREE Americans.
Those that need a “father” maybe. Mostly what Trump preaches is NOT dependency on government. Which is why so many in the Fedgov are democrats (self-fulfilling the need for their gubmint jobs, since their pitch is “only we can help”).. In fact Trump doing ‘fireside chats” would be great if everytime he re-iterates how much FREEDOM his policies and results are bringing to working Americans...and all Americans.Americans first vs.the globalist lie of the climate change and EU loving demonrats ripping us off through kickback of our federal dollars. As in ...the Ukraine under obamaumao.
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