"I don't always get a virus, but when I do, it's DosEquisVirus."
Posted on 02/29/2020 5:17:07 PM PST by Bon mots
NEW YORK - The New York Stock Exchange is preparing for the possible escalation of the novel coronavirus crisis that might include closing the trading floor in Lower Manhattan, according to Fox Business.
Should the outbreak of COVID-19 escalate into a global pandemic, as is expected, then markets and firms are concerned that traders and other employees might not be able to get to work.
"New York Stock Exchange is beginning to prepare for the possibility that the floor might not be able to open. It's a mixture of both humans and an automated trading system, computerized trading system," Charles Gasparino of Fox Business said on The Claman Countdown on Friday. "So they're planning for a possibility that the… floor traders, the brokers, the designated market makers can't make it in because they have to stay home."
Gasparino, citing his sources, said the NYSE will have "some sort of a test run" in a few days.
Major Wall Street firms are also telling their employees to get ready for the situation to get worse. Those firms are already restricting travel to areas that are hit hard, such as China and other parts of Asia, Gasparino reported.
"'Be prepared to work from home, test your systems out, make sure your computer works, make sure you can get into the company system to trade,'" Gasparino said firms are telling their workers.
Stocks sank again on Friday, leaving Wall Street with its worst week since October 2008. Investors appear to be worried that the coronavirus outbreak will derail the global economy.
I'm long SPXS...
Why don’t we just close all of Manhattan because of the remote possibility that someone with the BudweiserVirus might happen to stumble into the city and infect everyone?
Jeez, I’m more concerned about catching the plain old flu than I am of contracting the “Crisis du Jour”.
“NYSE Could Close Trading Floor in CoronaVirus Contingency”
wouldn’t matter much: almost all trades are automated via computer; only a few trades are actually conducted on the floor now ...
I don’t think Charlie should have spoken this way...like throwing gas on a fire. It’ll get the effect he is looking for.
Let’s close everything and leave it closed forever!
That way we’ll all be something or other.
I’m getting tired of the constant push to make me panic over something I have no need to panic over. I’m already old enough to be dead.
I’m into FAZ!
So the Fox staff thinks that if one person catches a cold at the Stock Market, they should close it down?
It will be easier to give people like that The Stinkeye going forward from here.
Change the rules back to 2006. Uptick rule. Stop the big players from getting huge profits from shorting.
That causes further falls, and more profits for those causing this. They are trying to replicate the 2008 crisis.
Hoax!!!!
My IRA is taking a pounding right now. The good news is that I’m getting myself ready to pump in my 2020 contribution and buy some ETFs and stocks hopefully at a better price.
Now if this thing mutates into the ModeloVirus-20, then I’m converting all my assets to to gold.
Went all cash Friday
I have my “go” list all ready. Another few thousand and I’ll be ready to go. People should view this as a great opportunity.
How DARE you post this fear mongering true contingency info!!! Corona story!
I’m personally offended and hurt! You’re popping my bubble of pure, stable society! This is JUST the killer flu!
/s
“mutates into the ModeloVirus-20”
ROTFLMBO!
I understand the market’s reaction to potential and very real supply problems due to factory shut downs in China. That will be short term. But in the long term, the JIT global economy is now dead. Every country will look to supply its own goods as much as possible. Of course international trade will continue, but say a company like Ford might look back to sourcing its parts more locally...say vehicles made in the US have its brake parts made here in the US, etc, etc...
Otherwise there is a lot of hype going on. I agree that we should be smart, but this is not the world ender. It is more like the Spanish Flu than “normal” Flu in terms of its R0 and CFR according to the numbers thus far...even so, I have seen figures bringing down the CFR to more “normal” flu numbers.
It is a new virus and there is a lot of information being bandied about. There are unknowns, but in time will be known.
Once the Gilead cure is being manufactured in large quanities, then most fears will have subsided as the population realizes that if they get the virus, there is a cure. Some will still die...but more than most will survive. This is an important filling of the gap until there is a vaccine. Thank the Lord for Gilead and its earlier Ebola treatment...
Interesting, as others are long SSPX (but I digress....)
"I don't always get a virus, but when I do, it's DosEquisVirus."
The way it looks the media as a whole is going to cause a crash from with this hysteria. Is it remotely necessary, no.
By simply telling the truth about the situation as it really is they could keep a meltdown from happening. But no, they know the fantastic economy is the one thing the Guarantees Trumps re-election. So take it down, f the country and let Americans lose millions but it will be worth it if we can hurt the President.
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