TURN THOSE MACHINES BACK ON!!!!!...............
Posted on 03/12/2020 6:42:46 AM PDT by Enlightened1
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 dropped 7% shortly after the open, triggering a 15-minute “circuit breaker,” which temporarily halts trading at the New York Stock Exchange. The broad index also joined the Dow Jones Industrial Average in bear market territory. The 30-stock Dow slid more than 1,600 points, or 7.%. The Nasdaq Composite dropped 7%.
Before the open, futures contracts tied to the major indexes fell to their so-called limit down thresholds, sliding 5%. These limit down levels act as a as a floor for selling until regular trading begins.
Cruise line shares dropped sharply. Royal Caribbean traded 23% lower while Carnival and Norwegian Cruise Line slid 14% and 20.3%, respectively. Airline shares such as United, Delta and American all fell more than 10%.
On Wednesday, the Dow ended its historic 11-year bull market run by closing in bear-market territory. A bear market marks a 20% decline from all-time highs. The S&P 500 was just shy of that threshold going into Thursday’s trading and was poised to enter bear market territory based on futures losses.
(Excerpt) Read more at cnbc.com ...
Making President Trump's point that we should not depend on China so much.
Trump is right on China, but he’s been wrong on the virus. He deserves criticism. Not insane MSM criticism, but it has not been his best work.
Suspened the dmm market!
That’s an idiotic idea. You don’t suspend the market in an environment like this, you find the bottom, then rebuild.
Not if it falls through the floor.
Yes he was too optimistic, and should have shut down travel, or at least quarantined travel from Italy much sooner.
He said many of the right things last night, but he looked pretty tired (for him) as he read his speech.
It's not clear anything could have been done in our fairly open society that would have really helped. But it might have.
How should he have done better about the virus?
There really isn’t much he can do to prevent this thing outside of putting the entire country on lock down.
Early testing....the CDC is under HHS? Cabinet level?
Trump and his political aides muzzled the disease experts in an effort to present an optimistic view and prop up the economy. This is what he deserves criticism for.
I wonder what people will do when the market hits zero.
I wonder if investors will feel better then.
I feel like that’s not exactly what happened. Seems like they were saying to take it seriously and he was saying that it was a hoax and people should not change their behavior and keep going to work even if they have the virus.
TURN THOSE MACHINES BACK ON!!!!!...............
Thank God we are dependent on China for just about everything we use
/s
Yep. I see this as seriously damaging globalism. And this speaks to my tag line.
It may not have helped that the administration officials in charge of monitoring global pandemics were fired in 2018 and never replaced.
Really getting tired of the sniping.
Early testing? They did not have tests to use early. How could they have known?
HHS is cabinet level.
I don’t get your complaints/suggestions.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.