Posted on 03/31/2020 5:52:11 PM PDT by Nero Germanicus
US stocks declined on Tuesday as traders weighed a longer-than-expected recovery from the escalating coronavirus outbreak.
The losses came as numerous economists across Wall Street further revised their quarterly gross-domestic-product estimates lower amid the pandemic.
The market close saw the Dow Jones industrial complete its worst first quarter in history, having tumbled 23%. In addition, both the Dow (-14%) and S&P 500 (-12%) turned in their worst monthly returns since the depths of the financial crisis in October 2008.
On a GDP basis, Goldman Sachs sees the economy shrinking by 34% next quarter, eclipsing its previous projection of 24%. The firm added on Tuesday that "sky-high" jobless claims hinted at a "bigger output and (especially) labor market collapse than we had anticipated."
JPMorgan on Thursday lowered its estimate to a 25% GDP contraction as the outbreak tightens financial conditions across the country.
Markets may finally be stabilizing after more than a month of decade-high volatility, but investors should still be wary in deploying their cash, Randy Frederick, vice president of trading and derivatives at the Schwab Center for Financial Research, told Markets Insider in an interview. Any investors buying in after single-day gains likely lost massive amounts of capital through March, as the jumps were often followed by massive declines in the next session.
(Excerpt) Read more at markets.businessinsider.com ...
left fanning the fears to keep up what they know would not happen naturally and killing off our economy. too bad POTUS ratings are still good.
Not coronavirus fears but to sell off Chinese stock to punish them. That is what many of us did today.
If it’s not in your hands and you can’t defend it with a weapon, YOU DON’T OWN IT. (paraphrasing Ann Barnhardt)
Good luck FReepers.
Get ready for the communist form of government to be forced on us. This overreaction was the first step in the latest effort to finalize the deal. Two more weeks and we’ll see how easily it will be instilled.
left fanning the fears to keep up what they know would not happen naturally and killing off our economy. too bad POTUS ratings are still good.
....
If he keeps extending these CDC recommendations into May (enabling states to crush some of our Freedoms), I’m afraid he may start seeing his approval numbers drop. People are not going to live like this, watching their jobs and wealth evaporate for this fu*king virus and the Fake News hype of it!
What Chinese holding(s) in particular did you dump today ?
BI is thrilled mission accomplished
‘If it’s not in your hands and you can’t defend it with a weapon, YOU DON’T OWN IT.’
yes, that’s absolutely true; but for people trying to build their nest egg, there is no other way these days other than playing the market...
The virus will lead to the bad economy that will lead to the election. The fascists plan is working to a T.
Telecommunications stocks.
I must agree he had to give them this one but it he cannot let this go on. Dr Fraud said peak deaths are in the next two weeks so if he starts hedging that throw him off the stage. The little shit doesn’t care a whit about the thousands of business that are going under. Trumps will crumble if he lets this go into May.
with the major single issue Chi Telecoms at close to a 52 week low, wow !
Yeah, I feel bad for citizens that didn’t get out before the SHTF or didn’t move on the 1st “dead cat bounce”. I have nothing in the market and am thinking if negative interest rates come, I might have to yank it out of the bank so THEY can’t loot it. I retired this year, and money is just sitting in the bank giving me the finger. Long term with geopolitics the way they are (enemies domestic and foreign), I don’t see a good trend for a long time. Way too much uncertainty for me. Best wishes for all hard-working Americans.
The powers-that-be were definitely going to guarantee President Trump the worst quarter in Dow’s history. I saw this coming a mile away.
The virus will lead to the bad economy that will lead to the election. The fascists plan is working to a T.
...
So I take it you believe President Trump is going to lose now correct?
I must agree he had to give them this one but it he cannot let this go on. Dr Fraud said peak deaths are in the next two weeks so if he starts hedging that throw him off the stage. The little shit doesn’t care a whit about the thousands of business that are going under. Trumps will crumble if he lets this go into May.
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Agree!
Keep an eye and ear on people taking malaria pills, media will not be happy to report successful recoveries, and will stop reporting the good news, just to down play hope of early recovery. Our local news edits President Trump’s briefings to just the dead count. In about 10 days the recovery numbers are going to jump and deaths will start going down, but media will spin it as nothing, and not the malaria pills. My guess 21 days and then boom!, everyone will know we are on our out of this.
Punishment was the order of the day. This was an act of war!
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