Dow Plummets 2,000 points, S&P 500 Sinks More Than 7% Amid Oil Price War

CNBC ^

[Black Agnes]

The under 40’s are definitely that dumb.

30+ years of public school indoctrination and mis-teaching has done its job.

[wtd]

Common core math challenges media:

• 

  Source links:

• AFP: "US oil prices plunge 25% to close at $31.13/barrel"

• AFP UPDATE: Global oil markets plunged almost a third Monday, the biggest drop since the 1991 Gulf War as Saudi Arabia slashed prices in a battle for market share after Russia rejected OPEC calls for deep output cuts.

• Reuters: Wall Street’s main stock indexes plunged, and the Dow Jones Industrials crashed 2,000 points as a 20% slump in oil prices and the rapid spread of the #coronavirus heightened fears of a global recession https://reut.rs/3cDH3Oh

• AP: Markets worldwide were gripped by fear after oil prices cratered more than 20% on coronavirus worries. The S&P 500 plunged 7% in the first few minutes after the market opened, tripping a circuit breaker that temporarily halts trading.

[cowboyusa]

Yes.

[LouieFisk]

Barrel worth more than the oil -

[Ohioan]

A fatherly fireside address would be far more effective for our purposes.

Other World War II kids should remember singing about accentuating the "positive."

Frightened people will respond to positive words from a father figure in a positive way.

[Gasshog]

$dwcpf (SMALL CAPS?):P

down -9.2 a minute ago. yikes

[duckman]

Are the Rats wet dreams becoming to reality?

[kaktuskid]

Talk about what? Washing you hands? Don’t hoard toilet paper? Don’t cough on people?

[Meatspace]

“Time to consider suspending trading?”

Nothing says Free Market like suspending trading.

[central_va]

The US economy runs on oil!!! Falling prices means big economic boost is in the cards.

[samtheman]

I’m honestly glad the market is down. I’ve been worried it has been going up too fast and a huge bubble would burst ala tech bubble and housing bubble.

I look at this as a check and the market gets back to reasonable growth rate, not a boom rate.
—
And I was worried that the correction would happen just before the election. Maybe it’s good to happen now.

[Ohioan]

See my #19 & 25.

[dfwgator]

The ones really panicking are the Mullahs in Iran.

[cowboyusa]

Way too early.

[volunbeer]

I do not believe this was coordinated as it is the logical (and predictable) reaction to the radical shift in the energy market and to a lesser extent ongoing fears and impacts about the corona virus.

While I agree with your premise that there are many people who would deliberately tank the economy, I don’t think they anticipated the Saudis would act so boldly in their own interest (against Russia and Iran).

The fundamentals remain very strong in the U.S. and there are many upsides to cheaper oil despite a negative impact on smaller energy companies that need higher prices.

[david1292]

Market is imploding.
Global recession is imminent.

[Dogbert41]

I’m considering haulting my refi until interest rates are negative! It already dropped .75 since I applied a few weeks ago! Might even ask for some equity back to buy stocks! Great opportunity coming because of all the needless fear.

[CedarDave]

Oil prices are based on 42 gallons per barrel, not 55 gallons. Don’t know the history on that, but that’s the way it has been for maybe a hundred years.

[Ohioan]

Of course not. He should talkss about the traditional America, a sense of heritage & tradition. Explain how America works, when we let her work. Be reassuring by explaining the verifiable dynamics of the American experience!!

America: Based On Experience & Reason

[Brian Griffin]

“America will return to the dying state Obama put it in.....no jobs, no opportunities, no equality, no growing economy, no hope, no future”

The Obama was lackluster - exactly what an economy should be.