It’s not just coronavirus, it’s also influenced by oil.
Trading on the New York Stock Exchange was halted temporarily Monday after indexes plunged 7% in reaction to Saudi Arabia’s shocking oil-price cut. The financial market chaos comes amid increasing worries that the coronavirus epidemic will plunge the global economy into recession.
In early trading, the Dow Jones Industrial Average was down more than 1,900 points — more than 19% off its February peak. Stocks also fell sharply in Asia and Europe.
Later in the morning, the U.S. indexes recovered somewhat, with the Dow down nearly 1,600. Both the Dow and the S&P 500 were down about 6%.
The price of oil also fell — down 21% Monday following the unexpected Saudi move.
As investors fled stocks and sought relative safety in government bonds, the yield on the benchmark 10-year Treasury note fell below 0.4% overnight before climbing above 0.5% Monday morning.
Over the weekend, Saudi Arabia announced a stunning discount in oil prices — of $6 to $8 per barrel — and a boost in production.
This is starting to look like warfare of a different sort.
A lot of melodramatics. The market is like a bunch of 15 year old girls buying/selling.
Now down 1382
Down 1362
Down 1306
This is a good time to buy. Sell grandmas good china and buy.
Coronavirus is having its effect.
Not the virus itself, but the Democrat and Leftist media induced panic over it.
Wonder how bad they will be able to make it?
The demoncrats are ecstatic.
I just want to point out that while there are a few areas around the globe where the numbers are increasing at a worrisome rate (particularly Europe and Iran), USA appears to have it well under control. So if the markets are tanking it has zero to do with Trump, an awful lot to do with Saudi Arabia, and an awful lot thanks to the media.
https://www.worldometers.info/coronavirus/
Saudis want to oversupply the market to drive frackers out of business. They are producing at a loss to do it.
Something that can’t go on forever won’t.
I AM in favor of $.25/gal. gas again. 🤔
So when do we start investigating CHINESE COLLUSION with the democraps?
They crash the stock market, with their germ warfare, to help the Berntards & Bidenholes! HMMMMMMMMMMMMM… 🤔
Take advantage of the opportunity to buy stocks.
And then go out and get active in your local Republican party. Because the Dem strategy right now includes local and state campaigns as well as voter fraud.
It’s times like this I am very happy to be a conservative investor.
These kinds of automated sell-offs are very easy to trigger during times of apprehension. Fortunately, many of the exchanges have automated mechanisms in place to slow things down enough to let humans into the loop.
If this was triggered by a planned sell-off by someone, or some people, determined to destabilize the economy for political purposes and/or personal gain, it is going to take a lot more money and time to pull it off than it did in 2007, which will make it easier to trace.
It is very early in the game to be pulling this kind of stunt, but the Dems are desperate, possibly looking to gain broader popular support for another impeachment try.
Nothing like some conspiracy theorizing to start the week out right.
Hey Mickey, Meemaw’s good china is worthless nowadays. Sell the heirloom sterling silver!
fear and greed drive the stock market
enjoy the show
It’s all my fault…I’ve had investible money 3 times in my life. I made a little bit the first time and lost my ass the second time and got back in the market about 2 years ago. Me being back in the market is the cause of this down turn. The first year I lost about 16%. The second year I made about 28%….Guess which year my financial guy talks about. And here we are with all my profits gone plus a chunk of my nest egg…..I’m in it for the rest of Trump’s term which should be to 2024 because I buy into the conspiracy theory that this is the powers that be last chance to defeat him in 2020. Russia, Russia, Russia, impeachment et all didn’t work….The phony baloney bastards don’t get it. They have driven me out of participating in this economy. I buy food, bullets, a little booze and fuel for my vehicles and equipment, but the new pontoon fishing boat and side by side ATV are on hold and probably canceled. I have all the clothes and boots I need. Dogs food and vet visits are all good. I don’t need much because I planned and learned to live with little during the Bush/Obama years….New Car or truck?….FUGITABOUT IT!….LOL you stupid bastards!….
The whole point is Media Panic and to help UN-elect Trump.
They figure if they delete the stock market gains people will scream for change.
From what I can tell the markets are driven by good and bad hair days.
Also generated by anyone who jumped into the market in the last 5 years that are in a selling frenzy as they see their paper profits disappear.
No problem for those who have been in since the pre-10,000 Dow days.