Posted on 03/12/2020 6:42:46 AM PDT by Enlightened1
U.S. stocks fell sharply once again on Thursday after an address from President Donald Trump failed to quell concerns over the possible economic slowdown from the coronavirus.
The S&P 500 dropped 7% shortly after the open, triggering a 15-minute “circuit breaker,” which temporarily halts trading at the New York Stock Exchange. The broad index also joined the Dow Jones Industrial Average in bear market territory. The 30-stock Dow slid more than 1,600 points, or 7.%. The Nasdaq Composite dropped 7%.
Before the open, futures contracts tied to the major indexes fell to their so-called limit down thresholds, sliding 5%. These limit down levels act as a as a floor for selling until regular trading begins.
Cruise line shares dropped sharply. Royal Caribbean traded 23% lower while Carnival and Norwegian Cruise Line slid 14% and 20.3%, respectively. Airline shares such as United, Delta and American all fell more than 10%.
On Wednesday, the Dow ended its historic 11-year bull market run by closing in bear-market territory. A bear market marks a 20% decline from all-time highs. The S&P 500 was just shy of that threshold going into Thursday’s trading and was poised to enter bear market territory based on futures losses.
(Excerpt) Read more at cnbc.com ...
I hope people have learned their lesson....but they probably didn’t. Pelosi is already griping about “racism”.
Trump has been abundantly clear that he has never said the virus was a hoax. He said that the Democrats were perpetrating a hoax in response.
How much worse would the spread have been under a Dem POTUS who let political correctness dictate all of his decisions?
Really? Trump said go to work even when you are sick? Really?
This has long-ago reached the point of emotion over reason. Now it’s a self-fulfilling prophecy.
Trump took office it was around 18k ...so all this selling has a ways to go....Media driven frenzy needs more spread or people will lose interest in “Sky is Falling” drum beat...Supply chain is the key...Costco has shelves to fill....
My pet world nemesis specializes in undermining stock markets and currencies. I bet soroznazi is working this to bring USA to it’s knees ? Any reports on his activities yet?
agree 1000%- and that could lead to inflation...
Corporate America should use their huge cash reserves and announce huge stock buybacks
I know, I live in Taiwan, a democracy which was more at risk than any other nation when this broke in china. We went on lockdown, life here is mostly normal and we have fewer than 50 confirmed cases, despite our intense risk.
I have seen this crisis handled well in a free and open society. Trump has not done so, he should be called out for this.
I see, so the virus was not a hoax, but taking it seriously was a hoax. Either way, the message seemed to change last night.
Read about the CDC’s early response and their “gold standard” test (tested for 3 strains of virus) and the resulting “Oops, bad reagent, recall the test kits”...S. Korea got tens of thousands of tests done within 2 weeks of their outbreak, and we still can’t do it 2 months later?
Yep
The China travel ban was a great move. What happened after that was a disaster. Listen to Ben Shapiro’s podcast from yesterday (Wednesday the 11th) from timestamp 38:00 to 47:00. It lays it all out.
Only Taiwan did.
What’s the exact quote?
is it still “just the flu, bro”?
The dems take everything seriously, unless it benefits them. Get back to us when your daughter is raped by an illegal.
Agree but the media and the DC Establishment would be covering it up.
Now, YOU may go to work when you are sick with the flu, but I would not.
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