Posted on 02/24/2020 6:44:07 AM PST by outpostinmass2
The escalating coronavirus crisis is taking a huge toll on financial markets. The bloodletting that started on Sunday with stock futures and continued through Asia and European session has now hit U.S. blue-chip and tech stocks. Some of the day’s biggest losers include bellwether names like Apple, Google and Tesla — all of which fell by around 5% on the day.
Here’s where the markets began Monday’s trading session, which is shaping up to be an ugly one:
S&P 500 (^GSPC): -3% or -100 points to 3,237.52
Dow (^DJI): -3.2% or -918.19 points to 28,074.13
Nasdaq (^IXIC): -3.52% or -336.76 points to 9,245.73
Crude oil (CL=F): -4.72% to $50.86 a barrel
Gold (GC=F): +2.18% to $1,684.70 per ounce
Analysts, however, don’t think the current drop will last. Invesco’s Brian Levitt told Yahoo Finance on Monday that the current scare is little more than a blip in a longer secular bull that won’t trigger a recession. "We will be back sometime later in this year talking about stabilizing economic activity."
(Excerpt) Read more at finance.yahoo.com ...
I need to buy some stock!
Liberals love it when the market goes down under Trump!
stocks are 3% cheaper. time to buy.
DOW down 765 now
We need a healthy 2000 point correction now rather than a month before the election.
I hope China nationalizes all those US factories and puts the ceos in gulags.
Buy the dips.
The 10-Year Treasury, benchmark for 30 year mortgages, have fallen to 1.376%. This is below the trough rate in Sept 2019 that triggered a refinance boom.
Liberals love it when the market goes down.
They want to government control of everything. No free market.
I was talking to my wife about this. Imagine a planet where this one country produces various parts used in the manufacturing of pretty much everything on the planet, but they acquire a communicable disease so deadly that the whole country is quarantined, and even products are not allowed to leave.
The entire world’s economy would be crippled once manufacturers all over the world deplete their parts stores. And if they are JIT based, they are even more screwed.
And here we are.
yes, buying opportunity coming up when it becomes evident that the coronavirus epidemic is contained ...
It’s a sale.
“Outsourcing manufacturing is good for the economy they told us.”
Lying SOBs. I’m one of the old timers who called BS on that from the start. My hope is that these people learn the very real dangers of outsourcing. My rational side says that there isn’t much chance of that. 2 cents a unit savings is 2 cents after all.
Dow finishes up on the day. The dumb money is leaving.
Just so you guys understand..this is partly Sanders.
So that part isn’t going away soon.
And part is the huge toll of the Virus issue.
Hedge fund guys are wondering if Dems will take out Sanders via a Clinton operation. That is how serious this is to Wall Street and the Dems.
buying opportunity
what? Even Goldman Sachs is opposed to Bernie? That's a shocker.
“China goes full Venezuela, film at 11:00. Never go full Valenzuela”
Teach those globalist traitors a lesson. I have zero sympathy for them. They sold out the US.
Single point of failure. Brilliant!
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