wishful thinking?
Price of oil started dropping the the outbreak. Russia and Saudi have just added to it.
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when the market opens today the first cirtuit breaker for the s%p is 7% lower. if that happens trading halts for 15 minutes.
I think theres a strong chance we hit that mark.
large european oil companies are all trading 15-20% lower including BP,shell etc.
italian stocks are down 10%
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early morning drops in some us stocks
AAPL-6%
XOM -10%
FB-4.7%
AMZN -5.5%
TSLA-10.3%
NFLX -5.5%
BAC-8.6%
SPY-5.7%
If your only measure of economic success is gas prices your are right that consumes will benefit. But a 15% drop in the equities markets leading to what is likely to be a global recession will cause broad hardships that will more than outweigh lower prices at the pump.
covid 19 spreding worldwide.
stock markets plunging
and trump rewteets an image from his social media manager of him playing the fiddle ala nero
https://twitter.com/DanScavino/status/1236519422917062656?s=20
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Still can’t help injecting politics where it’s not warranted, I see.
Serious debate is dead. China is hugely important to the global economy…any prolonged shutdown there will have serious economic consequences.
But serious convo about it will die here because the instant that is mentioned, someone will divert it to a stupid “Libs want to tank the economy” convo.
This is the huge danger of the tribal era in which we now find ourselves.
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Holy crap. Did not want to wake up to futures down 1300 this morning
and thats only because they are locked limit down
Uncertainty certainly is part. but so are the effects.
As a small example, Ted Cruz and another GOP senator going into quarantine…this is going to start happening more.
The fed has been pumping up a huge bubble and something was going to ■■■■■ it. This is just the needle for this bubble.
stocks go up and down
covid causes mild cold symptoms
rome isnt on fire. relax
I would be really surprised if we go below 23k. Today might be capitulation
the fastest bear market on record occured in 1929 when it took us 42 days to drop 20%
right now stocks are 2% away from a bear market (down 18%) and its only taken 18 days
COVID-19 has killed thousands including dozens here in the US. And is has no cure and antivirals do nothing against it.
current 30 year bond yield .85%
the bloomberg commodity index is at its lowest since 1986
evem bitcoin is plunging
Oil markets are responding to the grocery store bag bans.
cheap oil is not bad news.
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It is the flu with a tricky incubation-contagion phase.
We will survive this…I promise.
Dozens?
Of course we will survive this. Older people may not…but the market is already unstable because of trump. This just adds to it more so.
