Posted on 02/23/2020 6:31:02 PM PST by lasereye
U.S. stock market futures sank late Sunday as the spread of coronavirus raised worries that global economic growth could take a hit.
Dow Jones Industrial Average futures YM00, -1.20% fell more than 300 point soon after electronic trading opened late Sunday. S&P 500 futures ES00, -1.20% and Nasdaq Composite futures NQ00, -1.63% also fell more than 1% each.
On Saturday, the International Monetary Fund warned the virus outbreak could reduce global economic growth by 0.1% this year, and drag China’s annual growth 0.4 percentage points lower than January estimates.
(Excerpt) Read more at marketwatch.com ...
This will be a buying opportunity, not a selling opportunity.
Anecdotal, but FWIW the local Staples is running out of all sorts of China-sourced goods, from laptops to, well, staples. Amazon, Rakuten, and Monochord can’t be far behind.
I sold mine last week. Eyeing gold and silver and maybe some solar if they go down.
It’s going to have a major effect on travel for a long time. Who is going to want to vacation in China???
I went out yesterday and darn if I haven’t caught something. I had asians coughing around me. I should have gotten away from them.
I doubt I have the virus but knowing my luck....
So started my liposomal C zinc tumeric hydrogen peroxide in ears, thieves oil.. and every other thing to combat whatever I caught. Probably just a cold but you never know when it starts on how bad it’s going to get.
I take light rail to work, I may consider stopping that and just working from home.
“Makes me think I should be selling some stocks.”
I bailed years ago, but my kids just bailed 2 weeks ago. At best, we’re talking major disruptions to virtually every American. At worst...I don’t want to think it.
L8r
If you have that option with no repercussions I would do it until it sorts itself out.
Most people dont have that option.
I am going to stay home except for grocery shopping. Going to head to Costco and stock up.
U.S. Stock Futures (moments ago)
S&P -45.00 / -1.35% Level 3,294.25 Fair Value 3,337.64 Difference -43.39 Data as of 9:30pm ET Nasdaq -178.25 / -1.88% Level 9,279.75 Fair Value 9,452.40 Difference -172.65 Data as of 9:30pm ET Dow -388.00 / -1.34% Level 28,593.00 Data as of 9:30pm ET
Bailed a week ago.
I bailed at the end of January
Well I suppose there are some who are pulling for the virus to get bigger like Soros and the DNC.
What it is NOW is a selling opportunity.
I’ve been the biggest skeptic about this virus.
I was wrong.
Being too stubborn headed can cost one a fortune.
This thing’s just getting started.
And that sucks.
At least hedge.
One can have whatever opinion they might as to this CoronaVirus. My own opinion is that it is vastly more serious than is being reported. We talk all the time on FR about you can’t trust the media. How about the Chinese media?
But stock-wise, I am of the opinion that this is going to be like Y2000 when all the tech cos reported “no visibility” (remember?) and will use Corona to mark down earnings for Q1.
Futures down 50 handles. That ain’t chopped liver.
Never mind the uncontrollable nature of this epidemic.
Trump needs to give an address to the nation on this.. he needs to outline what the current impact is on the US, and what efforts are being made to stem its spread.
lol...China could be cootie free and I still wouldn't go there.
I cannot frickin believe what some solar stock have already done this past week or two. I think you’d be late, but we’re in this kind of market, or at least we HAVE been, that the stuff that goes up keeps going up. I’m wary.
SEDG
ENPH
(not) FSLR
Personally, I es timate that the outbreak will reduce global economic growth by 100% this year, and drag China’s annual growth 100 percentage points lower than January estimates.
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