Stocks fall to coronavirus sell-off lows with S&P 500 entering bear market, trading briefly halted

CNBC ^ | March 11, 2020 | Fred Impert and Thomas Franck

[C19fan]

U.S. stocks fell sharply once again on Thursday after an address from President Donald Trump failed to quell concerns over the possible economic slowdown from the coronavirus.

The S&P 500 traded down 6.5% after trading was paused due to a 15-minute “circuit breaker,” which temporarily halts trading at the New York Stock Exchange and Nasdaq. The broad index also joined the Dow Jones Industrial Average in bear market territory. The 30-stock Dow slid more than 1,700 points, or 7.3%. The Nasdaq Composite dropped 6%.

[C19fan]

I do not play the markets but seems like a good time to pick up stock relatively cheap. This is a temporary shock and everything should be back to normal in a fee months.

[Howie66]

And the entire DemocRAT National Committee/Media experiences multiple orgasms!

[dfwgator]

Yep they are all showing their “O Face”.

[Howie66]

You got that right.

[brownsfan]

Why stop trading. If the herd is determined to jump off a cliff, a brief halt won’t stop them.

This all disgusts me. I’m losing a lot of money on paper, but I’m stuck taking the ride.

[miss marmelstein]

Me too. It’s all generated hysteria.

[TangledUpInBlue]

You’re not kidding. I wish I had more cash lying around.

I can’t remember the last time Disney was under $100 or Home Depot under $200. Damn....

And the thing is this, once this slows - by late May I’m betting the Dow will add 3,000 points. The companies will take Q1 hits from supply chain issues and lost sales - yes. But the underlying companies are healthy.

[albie]

Companies like Chevron, IBM, QCOM, JNJ, P&G, Exxon aren’t going anywhere.

[Yo-Yo]

2,000 more points, and all of the Trump gains since January 2017 will have been wiped out.

Hard Lesson Learned from 2008: If you have a retirement account in the market and don't need it for at least 2 more years, it's probably too late to sell now. Ride it out instead.

[xkaydet65]

I just had my adviser divest 10% of my portfolio and put it in ready cash so I have some reserve cash on hand.

[aMorePerfectUnion]

“ But the underlying companies are healthy.”

If a company has growing earnings, it is indeed healthy.

If it has world class everything, but slowing earnings, it is at best worth less than before...

Or if no earnings, just an expensive hobby.

[Steve Van Doorn]

This coronavirus was a direct attack on our stock market.
They even made a video on it called "event201" which was about a coronavirus and it's effect on the Stock market that supposed to hit Feb 1 this year. They put this up on youtube in November 2019. The video was made by Bill Gates, Bloomberg, China and the CIA.

[Mr Ramsbotham]

If you have a retirement account in the market and don't need it for at least 2 more years, it's probably too late to sell now. Ride it out instead.

That's me, but it's nerve-wracking.

[jagusafr]

MIL owns 5000 shares of Kellogg’s her deceased husband accrued while an employee. It stays between $60 and $65. Yesterday it was about $62. Blue chips remain generally solid.

[Yo-Yo]

I just had my adviser divest 10% of my portfolio and put it in ready cash so I have some reserve cash on hand.

I could call a bottom to this market today.

All I have to do is exchange half of my 403B mutual funds into the money market fund, and voila! the market will soar upwards.

It worked for me in 2008...

[Jane Long]

I watched the ‘Mock Pandemic”/Blloomberg/Bill Gates, et al highlight vid you’ve posted (on several threads).

Interesting how closely their ‘mock’ models of a ‘global pandemic’ are mirroring what’s happening with COVID-19 real numbers (infected, stock market, flight bans, etc.)

[Old Yeller]

Yep. That’s me when I buy individual stocks. Guarantee one hour after I buy a stick it drops 50%. That’s why I only buy half of what I’m going to get. Then after the 50% drop, I buy the other half of the shares. Then the stock only drops about another 12-25%. So I got that strategy going for me.

[Steve Van Doorn]

Notice there focus was the stock market not the Pandemic

[Jane Long]

Yes. I did notice that.

$$$ -> Meds -> Central Planning

[Steve Van Doorn]

I'm much more conspiratorial then you
I posted that they where about to pull their money out of the market days before they did. post 24 here. I said, " It's near it's peak right now which means they're ready for the pull." 2/12/2020

I knew it and didn't act. I could kick myself
http://www.freerepublic.com/focus/f-news/3815850/posts