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 ...
India gets its ingredients from China.
From a story I heard about two weeks ago, Range Rover should be shutting down production about now for lack of parts.
Yep, see post 40.
I take lisinopril too. This is not good.
It is made by several manufacturers but most stores seem to carry this brand. It could be ordered at some stores but more expensive.
Dont remember if any were made in the US
Unless you are a day trader you would regret doing anything but waiting this one out. I’ve expected a rough year but did nothing about it just like ‘18.
Most market reactions either way are extreme but they do change the immediate values. You either ride it out or get out for good because this is the way it is.
If you are an investor with dividend aristocrats it is just another day, your income stream will continue. Dividend aristocrats will sell their children and borrow money before they will cut dividends over something like this. They have seen it all before.
I expect it will take the rest of this year and into next spring about this time for this pig to pass through the snake. Meanwhile, hold your cards and wait. The days of 8% are gone for now. 6% annualized on average looks to be about the best a long term investor can hope for.
https://health.clevelandclinic.org/fasting-how-does-it-affect-your-heart-and-blood-pressure/
It may come down to this.
Not sure what can be done about psych meds though. That will be...’interesting’...if those become in short supply.
Bloomberg posted yesterday that between 30-35% of component parts for US production are sourced in China. Of that, 89% is produced in the provinces under lock down.
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it’ll be interesting to watch the news coming out of Bloomberg News
who has more to gain from sensationalizing the crono virus?
This pandemic could be Trump's Hurricane Karina (as pushed by the MSM).
Seems like an over-reaction. I’ve not heard of the virus spreading via trade
However, it’s important to note that current global circumstances suggest it is likely that this virus will cause a pandemic. In that case, the risk assessment would be different.
What May Happen
More cases are likely to be identified in the coming days, including more cases in the United States. It’s also likely that person-to-person spread will continue to occur, including in the United States. Widespread transmission of COVID-19 in the United States would translate into large numbers of people needing medical care at the same time. Schools, childcare centers, workplaces, and other places for mass gatherings may experience more absenteeism. Public health and healthcare systems may become overloaded, with elevated rates of hospitalizations and deaths. Other critical infrastructure, such as law enforcement, emergency medical services, and transportation industry may also be affected. Health care providers and hospitals may be overwhelmed. At this time, there is no vaccine to protect against COVID-19 and no medications approved to treat it. Nonpharmaceutical interventions would be the most important response strategy.
They (CDC) tries to pad things with a bunch of "mays", but those all tie back to that "likely".
The primary problems are supply chain disruption* due to erratic or reduced production by vendor countries, and, a likely crash of the already feeble global economy.
*This includes most of our meds, BTW.
Secondary problems would be items like the immolation of the US travel and related industries if we slam our borders shut in an attempt to slow the spread of the virus.
Note my post of the latest from the CDC (just above) and you may wish to read through some of the "live virus" threads of the past several days. I think you can throw out the "sky is falling" posts on one hand, and the "this isn't even as bad as the flu" posts on the other. The "middle ground" factual discussion and projection is useful, however. IMO. :-)
If we had a like button, I’d push it
;-)
Ok, I've counted to 50...
Look, I'm not a "sky is falling / Chinese bioweapon conspiracy" type. However, this (coronavirus) is CLEARLY a "PDS" from a health and economic standpoint. (PDS = National Weather Service term for a "Particularly Dangerous Situation", such as when they expect a tornado outbreak.)
First, flu's in the US usually start from a much bigger infected persons base. ("Residual" cases here plus thousands of imports.) BUT, flu's of the last many years are less infectious and have a fairly low fatality rate, compared to this new coronavirus. Our health care system has been able to accommodate most anyone in need of a flu related hospital stay (who actually goes to the hospital) in recent years, though some areas are strained at peak times.
2nd, the numbers for flu are for an entire year. This baby (coronavirus) isn't even out of the 1st inning, so to speak.
The key problem is that this coronavirus is evidently QUITE contagious, and asymptomatic carriers may be a significant % of the infected population. (In this context, it would only take a few % of infected persons as asymptotic carriers to be a big problem.) Plus, testing has been quite unreliable. Plus there will be no vaccine for at least several months: That last results in more successful infections, and of those, more serious cases.
Our CDC is pretty good at contact tracing, and quarantines can be established, but, short of going into Nork or Chinese mode, how do we limit the spread of this, in a year's time, to result in, say, "only" 2x the number of last year's flu hospitalizations? (I'd consider "2x" a major victory in this situation!) Those cases are added on to the existing burden on facilities, ICU's etc. Once there are more patients needing ventilators, ICU care, etc., for all causes, than resources, the fatality rate(s) will explode.
This is not a call to be Chicken Little. But, you might want to do some more research than listening to someone doing a very superficial (and either ignorant or dishonest) comparison with flu. Details matter. A lot.
This is not a call to be Chicken Little. But, you might want to do some more research than listening to someone doing a very superficial (and either ignorant or dishonest) comparison with flu. Details matter. A lot.
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This was from Rush first hour.
Rush hinted of a Chinese plot.
.
The Dow % drop today was just 3.56%. That % drop doesn’t even make it into the Top 20 Dow % drops... No worries.
http://twitter.com/realDonaldTrump/status/1232058127740174339
https://en.wikipedia.org/wiki/List_of_largest_daily_changes_in_the_Dow_Jones_Industrial_Average
A multi Billion dollar military arms deal with a friend who also fights against Islamic Terrorism is a good result. I’m happy the President and his family made the trip.
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