Stocks keep plunging in worst week since the financial crisis

CNBC ^ | February 28, 2020 | Fred Imbert and Eustance Huang

[C19fan]

Stocks tumbled once again on Friday, adding to the market’s worst week since the financial crisis, as worries over the coronavirus and its impact on the economy continue to rattle investor sentiment.

The Dow was down more than 700 points after plunging 1,000 points earlier. The S&P 500 fell 2.1%, while the Nasdaq fell 1.2% after sinking more than 3% earlier. The major averages were under pressure Friday in part because investors kept adding to their bond market exposure. The benchmark U.S. 10-year Treasury yield touched a fresh record low. It was last at 1.18%. Yields move inversely to prices.

[cowboyusa]

Nadaq almost hit green.

[jmaroneps37]

Democrats praying the Gaia for a total crash.

[Jeff Chandler]

There is a difference.

The financial crisis of 2008 was due to institutional deficiencies.

The current crisis it temporary, and the markets will rebound quickly.

The only question is the timeline. Can the Rats keep this going through the election?

[Alberta's Child]

The major averages were under pressure Friday in part because investors kept adding to their bond market exposure.

These investors are going to fare poorly. Bond prices are up as yields drop, so these investors are buying high into an asset class where yields are dropping.

I did the exact opposite this week. I sold out of a bond fund with a healthy profit that was driven by the rising bond prices this week.

[catnipman]

“since the financial crisis”

since? exactly WHEN did this putative “financial crisis” start? this is the first of a “financial crisis” that i’ve heard about ... Yes, the market has plunged, apparently waking up to possibility of supply chain disruption, or perhaps just unwarranted panic that the fake stream enemedia has seized upon promoting in order to try to bring down President Trump ... but aside from the stock market plunge, i’m not seeing any “crisis” ...

[dp0622]

Yeah it was down a lot more at one point but the end of the day has not been reached yet.

Once the dow couldn’t hold 28,000, 25,000 was a real target

if it doesn’t hold that 22,500 is a possibility.

imagine if people actually start DYING in the US.

i will NOT say “i could have made so much if I shorted once it went below 28,000!!!” because I THOUGHT it would go a lot lower at that point.

Had I been completely wrong I wouldn’t have mentioned it at all :)

Like I’m not mentioning the 20 TRADES where i was WRONG a s HECK the past half year! :)

[lowbuck]

Your right. . . the MSM is so obsessed with taking down President Trump they are praying for a downturn. And they will do everything in their power to bring one on.

Same with the hype over what is basically the flu.

Regarding the market, for over 40 years there has not been a real “bear” market. I remember the 70’s and the market grinding lower and lower for most of the decade. Then, as it always does, it turned as the fundamental values were in line and off we went to the roaring 80’s and Mr Regan.

The market could correct 10000 points or maybe 20000 points to return values to a realistic level. Just my 2¢

[griffin]

Stocks on sale in a few weeks!

[donaldo]

There were portents: Trillions into treasuries and the coronavirus. Don’t usually short the market let alone single stocks but there are dips. If you’d bought 1,000 shares of SDOW Wednesday, you’d be up $10,000 today. QID is also worth a look. But be very careful, shorting is a risky play.

[RoseofTexas]

Is it bad to say that the rats finally found the magic bullet to bring down the president? The hysteria is over over over the top by ALL, including fox, mediapukes!! No weapon formed against our president shall proper!!

[abb]

FIRE!!, FIRE!!, screamed the MSM during the movie...

[RayChuang88]

I think within a week we’ll see both a rate cut and a re-imposition of the “uptick rule” that was in effect from 1938 and 2007. That will put a quick end to the market downturn.

[mewzilla]

My bet: They can’t even keep this going next week.

Reason: Public pension funds.

[Nuke From Orbit]

Not even close.

Considering the Dow was at or under 10k then. Manufactured and total Bull Excrement.

This kind of BS reporting is criminal.

Was trying to post an image but that did not work out well..

[Jeff Chandler]

I think within a week we’ll see both a rate cut and a re-imposition of the “uptick rule”

Unless the FED and the SEC are part of the Resistance.

[desertfreedom765]

“Same with the hype over what is basically the flu.”

This is more like the 1918 Spanish Flu in terms of danger.

If they don’t come up with a cure soon than lots of people are going to get hurt.

I do think lots of powerful people are using this as an excuse to drive down the market.

[catnipman]

this is the perfect time to be looking at royal dutch shell class b for anyone wanting a consistent yield from an awesome company:

https://www.macrotrends.net/stocks/charts/RDS.B/royal-dutch-shell/profit-margins

https://www.macrotrends.net/stocks/charts/RDS.B/royal-dutch-shell/dividend-yield-history

[donaldo]

Yes, but stay away from oil and gas. It’s probably on its was to $40.00 or even below that. A buddy of mine bought XOM last week thinking it a can’t miss at $53.00. Think again. It’s down to $49.00 today or there about.

[cowboyusa]

They really think they would be safe in a cobol war. They would be wrong.