"And did those feet in ancient time....."
Posted on 03/11/2020 8:17:18 AM PDT by Red Badger
Another day, another 1000 point drop for the Dow Jones Industrial Average after U.S. Senator for Iowa Chuck Grassley said that the U.S. should consider reducing the payroll tax but there’s no need for action as of yet.
The stock market is unthrilled. The Dow Jones Industrial Average has tumbled 1,008.19 points, or 4%, to 24,009.97, while the S&P 500 has dropped 3.7% to 2777.79, and the Nasdaq Composite has fallen 3.3% to 8,072.83. The 10-year Treasury has slipped .05 percentage point to 0.71%.
The real action is in the Vix, more formally known as the Cboe Volatility Index. The Vix has risen to 52.52, and is set to spend its fourth consecutive day above 40, the longest such streak since the Financial Crisis. We don’t need the Vix to tell us that the market is acting a little bit crazy. The Dow has closed up or down more than 1000 points six times during the past 12 days, and has traded down between 786 points and 970 three additional times. Each of the three other day’s moves was more than 100 points.
Chalk it up to a market trying to price in what is impossible to know. How much the coronavirus spreads—and how the damage it does to the economy in the process—is still up for debate and investment banks are busy promulgating potential scenarios. UBS economist Arend Kapteyn and team for one, cut their global economic growth target to just 2%, reflecting what’s currently priced into the market by their estimates. That’s down from 4% before coronavirus, and 2.8% before Russia and Saudi Arabia started a price war. They have little confidence in their number however.
(Excerpt) Read more at barrons.com ...
They are the people that HUAC was trying to prevent ever having power.
Mattresses?.......................
Exxon/Mobil is looking pretty good right now!
Electionwise, this is perfect for Trump. A deep drop now, then a steady recovery into elections. Better than a dump into elections.
“
The Democrats have been talking up a downturn to help take down Trump for the last 3 years.”
Well now they are not just talking they are actively pushing the narrative into financial slowdown. Its criminal and well timed. Its like the virus situation, its not a coincidence and doesn’t it seem a bit curious as to how all these media outlets all have the same information, talking points, and political contacts?
Politics have now turned into a new form.
When the virus drops of the radar, and it will in a month or two as the weather warms up in the northern hemisphere, people will be outside more than inside.
THEN the market will skyrocket back to where it was before and HIGHER!....................
The boys continue to shake out the weak hands.
The market will survive.........................
20,000 people die a year from the flu, right?
This is only a big deal because it is opportunistic to be a big deal. If the Left thought they could make jay walking into a national crisis and win them elections they would.
If this weren’t an election year, I wonder what kind of coverage this would be getting.
Page 10A, halfway down below an ad about bras.
We are getting the correction that was overdue.
Yeah, well maybe if they told us how many people have recovered each day it might help.
Goldman’s CEO was on Capitol Hill today and predicted a recession.
Mattresses?
"And did those feet in ancient time....."
DNC is in celebration. Mueller failed,Russia failed,Ukraine failed but Corona may just do it.
ABC News actually did!.....................
Won’t do it, either.
It’ll soon be over and they will be back into depression again.................
Professional counseling...:)
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