Posted on 02/24/2020 4:55:28 AM PST by DCBryan1
U.S. stock futures pointed to sharp declines on Wall Street at the open on Monday as the number of coronavirus cases outside China surged, stoking fears of a prolonged global economic slowdown from the virus spreading.
As of 7:47 a.m. ET, Dow Jones Industrial Average futures were down 774 points, indicating a drop of 767 points at the open. Dow futures were down more than 800 points earlier in the session. S&P 500 and Nasdaq 100 futures were down by 2.5% and 2.8%, respectively.
Futures pointed to the biggest one-day points drop for the Dow since August, when the 30-stock average slid 800 points.
(Excerpt) Read more at cnbc.com ...
A vaccine would be a big boost.
A couple of them are down significantly as of Friday (like 20%) from their all time highs. They are down to the point where I've even seen recommendations to buy them, which in my opinion are WAY too early.
For example Carnival owns the Diamond Princess stranded in Japan. The cleanup and fallout costs from that one trip alone are a bottomless pit.
I don't think people are panicked enough about travel or the cruise company's company's earnings trajectory yet to be interested in them as investments.
The worst of a long term drop would be over the next few days. Then expect some sort of bounce.
If you are not comfortable losing that much in the market or 401 k-—you are already screwed. You should have sold last week. Same old story.
Depending on your age, continue to dollar cost average.
If you are close to, or into retirement age-—shame on you! This kind of a drop has been obvious for months.
The European elite are very worried about Italy. Not because they care about Italians, but because the "right wing" backlash is already building.
LOL. Sounds like me. My investment advice: Do what I do but do it two weeks before me. ;-)
Yes...I forgot about Italy. Right in their back yard.
Cannot have people sick in Europe like its the middle ages!
You want to see snowflakes scrambling...wait until it hits Rio and Mexico City.
The market was due for a pullback.
Rumors keep swirling that Prime Minister of Slovakia has it. Currently in hospital. But could just be pnuemonia
“Interesting that this drop is occurring while the POTUS is out of the country.”
President Trump is out of the Country??? Who Knew?/sarc.
I am. I shaved my positions 10% a while back (and the market ran up a little more). Anyways, I'm playing with the house money on a few stocks. Wish I would have sold another 10% last week. Will now wait 3 days to add to my positions. May pick up more D, SO, PEP, UNP, DIS, XOM, GILD, JNJ, MSFT, INTC, and PYPL.
Wait three days, then time to buy.
Timing is almost never a winners game. Choose a comfort level of either aggressive, moderate (balanced) or conservative, buy accordingly, rebalance as necessary, reinvest all distributions and sit tight.
I have done this for over 40 years and it has worked out fine bringing me an after tax income of just under 9% annually on average.
Democrats want this virus so bad. They will do anything to drag it into our cities.
But it’s ‘just the flu”! LOL.
“The Chinese mostly didn’t get to work after lunar new year. If it is not fixed very soon expect shortages of everything in two to three weeks.”
The shortages are already on the way, in the ships that haven’t been loaded for the past 3 weeks. The only variable is the severity. The question for Americans is how fast will the stores get cleaned out, once reality sets in (maybe in an hour)?
Incredibly, India is just reporting 3 cases.
Hard to believe, given India’s proximity to the center of the viral storm.
Still no deaths in the USA, and at least half of our 35 cases are related to Asian cruise ships.
The death rate in China is slowly moving up - it’s above 3% now, which is the highest I recall seeing.
In the 1918 flu epidemic, in the USA, our death rate was only 2.5%.
However, our infection rate in 1918 was quite frightening - 30%.
Death from the infectious desease is so common in India that I don’t think they are bothering identifying exact pathogen behind it.
“A couple of them are down significantly as of Friday (like 20%) from their all time highs. They are down to the point where I’ve even seen recommendations to buy them, which in my opinion are WAY too early.”
Agree - There are no cruise ships left in Asia, they’re all going to Europe, many to Italy...
I don’t know their financials or insurance, but if they’re like most companies, they won’t last long under these conditions.
Down 809.
The way logistic works I think for consumer goods there are a couple of weeks left for it to hit the fan. I might be wrong. For the industrial components with constant processes it should be sooner. Hyundai in Korea and Nissan in Japan already announced production stopped due to a shortage of Chinese parts.
Have anyone here ordered a thing from Aliexpress lately?
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