Posted on 02/27/2020 1:17:14 PM PST by lasereye
Markets are reeling again on Thursday, after the U.S. reported its first coronavirus case involving a person who didn’t travel to an infected country, and didn’t knowingly interact with someone who did. Experts are becoming increasingly resigned to a worldwide spread of the disease, even as China’s new infections slow.
4:00 p.m. ET: Dow drops more than 1,100 points after news California is monitoring thousands of possible cases
S&P 500 (^GSPC): -4.43% or -137.94 points to 2,978.45
Dow (^DJI): -4.43% or -1,194.98 points to 25,762.61
Nasdaq (^IXIC): -4.61% or -414.29 points to 8,566.48
Crude oil (CL=F): -3.67% or -1.79 to 46.94 a barrel
Gold (GC=F): -0.10% or -1.60 to 1,641.50 per ounce
10-year Treasury (^TNX): -0.84% or -0.0110 to 1.2990
2:55 p.m. ET: Meanwhile, in the Treasury market... In a sign of how aggressively investors are seeking out safe-havens, the 10-Year US Treasury Yield hit an intraday record low of 1.246%, according to Tradeweb data, while the 30-Year US Treasury Yield also set a fresh record at 1.783%.
The last time yields were this low? Yesterday.
(Excerpt) Read more at finance.yahoo.com ...
All we here about is monitoring. Nothing about being sick or how sick.
If and only if they sold.
Gilead Sciences has a therapy drug going into human testing by possibly next week
Any idea when that will be? Serious question. By sheer chance I had a bunch of UITs mature and move to cash only a month ago, and it's all sitting in the money market right now, ready to be reinvested.
Hard to predict the future, and this situation is fluid to say the least. I see the market stumbling for a while longer. Hopefully not too long.
Mr RooRoo, grandson and I have had airline tickets and a hotel room booked for Washington DC, booked things more than two months ago.
We will be in Washington DC from March 14 through 20–grsndson’s spring break. I had planned on throwing urine-filled balloons at the Vile Botoxian and Schittforbrains LOL.
I’m nervous now about flying and the tourist crowds, but we can’t get refunds at this point. I will be packing surgical masks (to be worn inside an aircraft) and LOTS of hand sanitizer.
Panic and the madness of crowds is very human—should not be a surprise to anyone.
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The media hypes everything to the max and gets the peeps worked up (this generates good viewer ratings). Then the story gets old after a few weeks of breathless coverage by the talking heads and people eventually lose interest after hearing the same thing over and over. There’s a very human tendency to tire of things and want a return to normal.
We’ve seen this movie before.
The commies see this as their chance to destroy the American economy so they can cease back power..notice how they are constantly calling Trump “Incompetent” yet they say NOTHING about how they would have stopped the outbreak..they have said nothing because we already know their plan..open the borders, allow everyone in so our health care system would have to take care of them, meanwhile they infect hundreds of thousands of people..that is the lefty agenda
As I posted earlier, there are legit market concerns:
The market (investors) was/is looking for an excuse to correct a bit. This virus news, short and possibly intermediate term supply chain interruptions, and a communist candidate for POTUS are all a factor. When major American companies like PG, Apple, Microsoft, Nike, etc, warn they may not be performing to expectations, and entire sectors like Airlines, Cruise lines, Shipping, Tech, Automotive and others are revising downward due to actual interruptions to business operations, that is not “fear mongering”.BUY! BUY! BUY!I’m not saying there isn’t some fear mongering going on, just that it has almost no impact on the market compared to real world factors.
The folks who said that Monday have a lot of egg on their face right now. I moved a chunk of retirement funds into cash on Sunday, and "missed out" on at least $30K in losses. I still have plenty of retirement $$$ in aggressive stock funds, but needed to balance. Sadly, I didn't move non-retirement funds (where I am probably WAY too aggressive) due to tax implications. Tax policy on investments SUCKS. The problem now is when to move that cash back to stocks. At this point, we might have seen most of the correction, but I don't want to be the guy "catching a falling knife".
no idea, but eventually someone in the US will die and then we will reach PEAK panic, until then just bide your time and watch the sheep run over the cliff.
They can’t keep the feces off the streets, but they are going to monitor thousands? No wonder Pelousy wanted billions more of our tax dollars so she could get her hands on more cash for CA.
This is just another Democrat plot to sink the economy and prevent Pres. Trump’s reelection.
The DOW will be at 50,000 by 2024.
Forgotten by November—the news cycle can barely function past a few days....and if Bernie is the candidate this will be a _minor_ _minor_ issue, won’t even register as the tenth most important issue in opinion polls.
The reality is that money can’t fix this—the epidemic is gonna do what it is gonna do—it is probably already in every big city in America.
Just one example—.gov thought they had contained it by banning flights from Wuhan. Folks from Wuhan circumvented the ban by flying to Thailand who asked no questions when they then booked flights to the US and the rest of the world.
Containing epidemics with long dormancy periods is totally impossible in the modern world. It is not just difficult, it is impossible.
All the rest is posturing.
waiting for the false bounce first.. Going after oil stocks.. Apple, Microsoft, Coke, Ford and Amazon...
What a coincidence.
Right after an encouraging press conference by Trump.
Sorry folks, but something smells very Democrat - y.
Not as painful as March 2009.
A lot of this selling is people remembering the bubble bursting back then and wanting to get out. I expect we are headed down some more before the bear market ends.
Agreed, warmer weather will stop spread. Saw a graph the other day for outside china confirming same.
Let’s step back and read the article slowly. It says monitoring 8,800 people. Monitoring not confirmed cased. Not one new case. The swamp is weaponizing the virus to drive down the economy and defeat President Trump in November.
The biggest danger in all of this mess is the naive, gullible, and typical American slob who votes based on emotion.
That gave us Obama in 2008. It might give us crazy commie Sanders as well.
Your fears and post have data to back it up. If this ‘virus’ doesn’t fizzle out and people start dropping by the dozens, it’ll be past time for praying.
Yup.. Then start buying.. Land!
Not sure if will come back as quick. I wonder how many companies are going to think about relying on China now...
I am not sure if China will make a full come back. They were in bad shape before the event.
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