Posted on 03/05/2020 6:42:47 AM PST by rightwingintelligentsia
(Reuters) - Wall Street was set for strong declines at the open on Thursday as the fast-spreading coronavirus led California to declare an emergency, while airline stocks were hammered by crippled travel demand.
The S&P 500 had ended 4% higher on Wednesday, as Joe Biden’s surprising lead in the Democratic primaries distracted traders from the widening spread of the pathogen in the United States.
The benchmark index has recouped nearly half of its losses from its worst week since the 2008 financial crisis, but is still about 7.5% below its record close on Feb. 19.
Fears about economic growth resurfaced on Thursday as the U.S. death toll rose to 11 and California reported the first fatality outside Washington state, a day after lawmakers approved an $8.3 billion bill to combat the outbreak.
(Excerpt) Read more at kitco.com ...
But crap in the streets, de facto legalized drug use and and infinite supply of third world migrants carrying diseases taught in the history books. That is just fine!!
Ca, Oregon and Wash state all doing as much as possible too crash the economy.
The death toll in Chicago and Baltimore is higher in 24 hours than the Corona Virus in five months.
Market is unstable NOT because of Corona virus as much as over-valuation. Covid-19 is just a catalyst, not the cause.
“Here we go again.”
Between Bernie and Corona, the market will swing like a pendulum. JMHO
Yesterday, the market was doing great because of Biden’s big win according to Fake News.
The truth is the market is being moved by short term traders.
CA declared the emergency because the market was recovering IMHO.
Funny how it’s always the liberal states that over do it...hmmmmm wonder why?!
We used to have 100-point up and down days. Now we’re having 1,000-point swings. The new normal?
Cash is not bad right now. Not great, but also not too bad.
so....now Wall Street is controlled by Left-wing nutjobs embedded in the California public health bureaucracy.
After a big drop, the next day people assume there are buying opportunities and the stocks go right back up.
Lather. Rinse. Repeat.
I’m happy to report we are not shut down here in California. What a ridiculous headline!
Crazy. This is so obvious.
“Never let a crisis go to waste.”
Given the height of the DJIA, up and down 1,000 points has little long term effect on the market. Now, that 500 point crash back in 1987....
They are going to milk this baby until the market suffers and senile bitme has a talking point fixing the economy because Trump didn’t know how to handle the coronavirus epidemic! Say I’m crazy, but it so freakin crystal clear and SOOOOOO obvious! It’s all collusion folks! the evil rats and the mediapukes!! Sitting behind the scenes to bring the president down are ALL THE powerful GLOBAL communist from around the world, china leading the pack!! We haven’t seen nothing yet! It’s going to get downright evil-ish nasty! Now I’m not saying that the coronavirus don’t exist, I’m just saying they are going to milk it till November!
I expect this video to disappear from Goolag-YooToob any moment, please save it other places.
Shows: Dozens of body bags in one hospital morgue, people dropping on street, mass graves.
“It’s just like the flu!” (NOT!!!)
https://www.youtube.com/watch?v=MBqR2RLstoc
I’ve been investing for nearly 40 years and have never seen anything like this.
Unfortunately, both wife and I retired last year so are living off our portfolio - which (whew) includes a good cash buffer so we don’t have to sell in a down market. BUT - watching good chunks of our net worth evaporate before our eyes ever day or two is getting extremely disconcerting. Even worse - I’ve done more research than many into how long markets CAN take to snap back..and it’s not always like the recovery from the 2008 crash..sometimes, can take 10+ years to fully get back to peak - and I’m starting to get concerned that may be the case here. I’m also starting to wonder if we could be on the verge of “1929 2.0” also.
I do suspect there’s a concerted effort to push the market down to harm Trump, simply because the economy is his strong suit. 1,000+ point down days just don’t happen with this type of regularity, so something is not normal whatsoever here.
We are living in very unusual times, that’s for sure.
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