Dow plunges, oil craters as Congress weighs $1T stimulus

Fox Business ^ | March 18 2020 | Jonathan Garber

[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.

[SkyPilot]

[GraceG]

Time to fill up the reserves... Oil that is...

[grobdriver]

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!

[Texas Eagle]

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.

The early selling comes as Yurtle the Turtle and Congress hammer out the details of a $1 trillion stimulus package designed to prop up the most devoutly loyal sectors of the demonicRAT Party and flip the bird to the little guy.

There. Fixed it.

[ifinnegan]

“Time to fill up the reserves... Oil that is...”

There you go!

[9YearLurker]

There was no rebound on Monday. The Dow dropped 2,999 points.

[impimp]

No way...let the market run it’s course.

[grobdriver]

let the market run it’s course

So you're gleefully shorting everything in sight?

Cause apparently NO ONE is "investing".

[Buckeye McFrog]

Time to fill up the reserves... Oil that is...

Wisely Trump is doing this.

[Beagle8U]

Gasoline is way under $2 gal in MI, average price $1.69 gal.

[dp0622]

How about adding a reason there ace.

OK, maybe you’re right.

But without an explanation one would just sound like a sore loser who has little money in the market and is enjoying this.

[Buckeye McFrog]

If anybody actually watches Trump’s press conferences they explained why.

[FtrPilot]

President Trump has already announced that the government is filling the Strategic Petroleum Reserve up to max capacity.

[Beagle8U]

Lowest gas in MI $1.39 a gal!

[Meatspace]

“There was no rebound on Monday. The Dow dropped 2,999 points.”

And many in the media exploiting that by claiming the Dow dropped 3000 points.

[P.O.E.]

Oil that is...

Black gold. Texas Tea.

[Alberta's Child]

You don’t close equity markets just because of wild gyrations. It’s best to either ride it out or buy/sell astutely for the short term.

[Adder]

If we would stop putting folks out of work and closing everything out of fear,,,er...an abundance of caution...this would not be happening.

STOP THE MADNESS!!

[noiseman]

”President Trump has already announced that the government is filling the Strategic Petroleum Reserve up to max capacity.”

We’ll need it when we go to war with China.