Posted on 03/18/2020 8:15:44 AM PDT by knighthawk
U.S. equity markets plunged in the opening minutes of trading, gutting a rebound on Monday.
The Dow Jones Industrial Average fell 1,268 points, or 5.9 percent, while the S&P 500 and Nasdaq Composite were lower by 5.4 percent and 5.5 percent, respectively. Trading is halted if the S&P 500 falls by 7 percent.
The early selling comes as the Trump administration and Congress hammer out the details of a $1 trillion stimulus package designed to prop up the most harshly pummeled sectors of the U.S. economy and give cash to those out of work.
(Excerpt) Read more at foxbusiness.com ...
Now replaced in value by White gold... soft TP.
A Trillion Dollar Stimulus Package?
Holy Crap. I looked it up. The 2008 Stimulus Package was only $168 Billion.
Yet 2.8 Trillion Dollars was spent.
https://money.cnn.com/2010/12/20/news/economy/total_stimulus_cost/index.htm
I’m bad at math. Someone help me out here. If 168 Billion ballooned to 2.8 Trillion back then, what will 1 Trillion now ultimately cost???
Trump is already doing that.
Says he is also going to re-finance the debt.
Agreed. I didn't move quick enough, so on paper I have a loss in my retirement. On paper. Not all of my money was in stocks, about half in safe haven, so when the bottom comes, I'll just move the safe-haven money over and have it go back up with what is already there to go up. Then when it starts getting near the top, I'll move it back into my safe haven. No worries. I'm just not looking at it, cuz I'll be more ill from that than COVID19.
Part of the “cost” is in the form of tax cuts.
I explained this to a teenage relative and she was like “wow, that is smart!”
That is lower than when I left that state in 04.
It was stuck at 1.54 or around there.
It is still 2.39 here in northwest AZ. The SOB state of CA is the culprit in that.
> Close the damn thing! SHUT IT DOWN! <
I would be in favor of some sort of braking action here. Maybe ban those computer-driven trades. And ban shorting the market.
But absent health concerns, a free market should remain open in a free country.
As for me, I am in stocks appropriate for my age. Although it’s been criticized, I’ve always went with Stock percentage = 100 - your age.
My problem is that I’m overly exposed to oil stocks.
And even my corporate bonds are being whacked around. I wonder if it’s too late to start investing in Beanie Babies.
“closing the markets” = “interfering in the markets”
I’m a buyer.
Keep it open. :-)
And take advantage of the negative interest rate when available.
Brilliant!
Saw gas today at $1.649...priced before the latest plunge.
Why in THE hell hasn’t the market been closed?
Panicked folks willing to take a loss are already out.
Those of us in for the ride aren’t going to sell at a loss now.
That leaves unscrupulous bad actors (Soros, etc.) and hostile nation-states attacking the nation via the market.
Close the damn thing! SHUT IT DOWN!
///
Amen, I at least want to see shorting stopped like in South Korea and/or uptick rule implemented.
I need to put on the hitch carrier and fill my gas cans before it goes back up.
No way...let the market run it’s course.
Meanwhile, I’m seriously thinking of getting in, in a while, for the first time in over 20 years. This is looking to be the mother of all corrections.
The world leaders have been kicking this economic reckoning can down the road for decades. Many “experts” have wrongly predicted for many years that they are about to run out of road. But this virus may just have put up an instant concrete wall right in the middle of the road.
It wasn’t that long ago that I said “billion seems to be the new million”, and yet we are already hearing the word “trillion” thrown out all over the place. This is simply not sustainable, and the virus may have just brought this century long party to an abrupt end.
Banks begin to fail, followed by depositors creating a massive run. If people are spooked about TP, can this be far away?
The markets continue even if there is no trading. You can not allow trading but speculation is still going on. If we suspend Wall Street for 2 weeks...oh brother watch at that first opening bell what happens. 1929 will be peanuts compared to that. The pressure cooker has to be allowed vent steam. I have 100k sitting in a money market right now. I was not in the market and am going to time this(with help from my broker). If you have a 401k, don't look at your account...you'll be looking for a ledge.
Limit daily stock sales of institutions to one percentage of holdings by value?
I am fully invested in the stock market and have lost a ton. For confidential reasons I am not permitted to manage my own money - other do it for me and I have no say. I say let the market tank if it wants to.
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