S&P 500 sheds 1.7 trillion in two days - Politics Forum.org | PoFo

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#15069993
The Dow just logged its worst 2-day percentage drop in two years — here are 5 reasons the stock market is tanking, and only one of them is the coronavirus

Published: Feb 25, 2020 8:27 p.m. ET

The S&P 500 has shed more than $1.7 trillion in value in the past two days

The U.S. stock-market rally is unraveling, with a period of historic gains coming to a screeching halt, as fear that the coronavirus epidemic may reach America rattles Wall Street.

The Dow Jones Industrial Average DJIA, -3.15% was off 929.92 points, or 3.3%, at its Tuesday nadir, at 27,030.88, a day after the blue-chip benchmark suffered a drop of more than 1,000 points, representing the third worst one-day point drop in the index’s 124-year history.

The Dow finished Tuesday down nearly 880 points to mark its sharpest-ever two-session slide in point terms, losing about 1,910 points, according to Dow Jones Market Data.

The fall also marked the largest two-day percentage slide for the index since the period ended Feb. 5, 2018. The skid puts the Dow 8.4% away from its Feb. 12 record-high close of 29,551.42. That means the Dow is approaching correction territory at 26,596.28, defined as a drop of at least 10%, but not greater than 20%, from a recent peak.

Article


Trump is of course reportedly furious over the state of the markets because he took credit for all those record gains. Hopefully the correction goes all the way and the Great Bull Market of 2009 comes to an end, just in time for the election.
#15070003
Actually, the big fall on monday was due to the hype of coronavirus becoming a pandemic in the USA.
CDC Prepares for Long-Term Coronavirus Effects on the U.S.


On tuesday, there was a slight rebound until the same woman, Dr. Nancy Messonnier, director of the CDC's National Center for Immunization and Respiratory Diseases, told reporters, "Ultimately, we expect we will see community spread in this country, it's not so much a question of if this will happen anymore, but rather more of a question of exactly when this will happen and how many people in this country will have severe illness," she said.

https://www.msn.com/en-us/health/medica ... r-BB10nPq1
#15070004
Hindsite wrote:Actually, the big fall on monday was due to the hype of coronavirus becoming a pandemic in the USA.
CDC Prepares for Long-Term Coronavirus Effects on the U.S.

On tuesday, there was a slight rebound until the same woman, Dr. Nancy Messonnier, director of the CDC's National Center for Immunization and Respiratory Diseases, told reporters, "Ultimately, we expect we will see community spread in this country, it's not so much a question of if this will happen anymore, but rather more of a question of exactly when this will happen and how many people in this country will have severe illness," she said.

https://www.msn.com/en-us/health/medica ... r-BB10nPq1


It's definitely not that simple, contained within the correction are other downward pressures that were building up and simply waiting for someone like Dr. Messonier to trigger the selloff.
#15070029
I hope it crashes, I love a crash. The only time in my life I felt genuinely happy was during the '08 crash. I was glued to my tv screaming 'crash you motherfucker! crash!'. :lol:
#15070053
Donna wrote:Trump is of course reportedly furious over the state of the markets because he took credit for all those record gains. Hopefully the correction goes all the way and the Great Bull Market of 2009 comes to an end, just in time for the election.

I think it'll be a 10% correction, basically back to where we were in September. Bond yields are at all time lows. So there's not a good reason for it to crash. It's just a bit overvalued.

Donna wrote:It's definitely not that simple, contained within the correction are other downward pressures that were building up and simply waiting for someone like Dr. Messonier to trigger the selloff.

RSI on the weekly S&P chart was diverging. I almost shorted it, but a portfolio manager friend of mine wasn't seeing a big correction. I gave him a ration of shit for that call. There will be some good buys after this is over though.
#15070195
blackjack21 wrote:I think it'll be a 10% correction, basically back to where we were in September. Bond yields are at all time lows. So there's not a good reason for it to crash. It's just a bit overvalued.


RSI on the weekly S&P chart was diverging. I almost shorted it, but a portfolio manager friend of mine wasn't seeing a big correction. I gave him a ration of shit for that call. There will be some good buys after this is over though.


Expect the bottom of the correction to be retested. Bond yields are low because investors have been moving out of stocks since late last year when US manufacturing started to slow down. The only thing holding up the economy right now are depressed interest rates and tentative consumer confidence and COVID-19 can potentially create supply-shocks that the economy will not be able to absorb.
#15070199
blackjack21 wrote:I think it'll be a 10% correction, basically back to where we were in September. Bond yields are at all time lows. So there's not a good reason for it to crash. It's just a bit overvalued.


RSI on the weekly S&P chart was diverging. I almost shorted it, but a portfolio manager friend of mine wasn't seeing a big correction. I gave him a ration of shit for that call. There will be some good buys after this is over though.


Oh lol your mentality. Everyones like when it reaches the bottom, I will BUY BUY BUY. So when does it actually reach the bottom? This is especially a good question during larger crashes like 08. :)
#15070278
Donna wrote:It's definitely not that simple, contained within the correction are other downward pressures that were building up and simply waiting for someone like Dr. Messonier to trigger the selloff.

Yeah, there is also the fact that crazy Bernie Sanders now leads the Democrat primary after 3 states. Sanders as president would be terrible for the economy.
#15070280
Hindsite wrote:Yeah, there is also the fact that crazy Bernie Sanders now leads the Democrat primary after 3 states. Sanders would be terrible for the economy.


No need to be disrespectful toward Senator Sanders with name-calling like "crazy". Stick to the issues.
#15070300
JohnRawls wrote:Oh lol your mentality. Everyones like when it reaches the bottom, I will BUY BUY BUY. So when does it actually reach the bottom? This is especially a good question during larger crashes like 08. :)

We're in for a rally. Hourlies are way oversold. I think it goes down to 3000 our thereabouts on the S&P.

Donna wrote:No need to be disrespectful toward Senator Sanders with name-calling like "crazy". Stick to the issues.

So how are things going with you? Donald is now Donna with no announcement--not that any is required. It is a curiosity. I had a co-worker switch, and I was pretty well caught off guard. He started wearing his hair long, and suddenly announced his male name was now a female name. It was one of the weirder things for me, but I'm from the SF Bay Area so I'm culturally reflexively supportive. Sanders is pretty out there. Why do you think he's not "crazy"? I used to disagree with the Democrats, but I could relate. Now, I just don't get them at all. Health care for illegal aliens at the expense of taxpayers who can't afford healthcare? It's just alien to me.
#15070336
Donna wrote:No need to be disrespectful toward Senator Sanders with name-calling like "crazy". Stick to the issues.

Bernie is clearly weird, but that was not the point. The point that you missed was that the fact that Bernie is winning the Democratic primary is enough to scare many people out of the stock market because of his radical government spending plans even without the covid-19 panic sell-off. President Trump may have calmed the covid-19 panic problem during the news conference last night.
#15070342
Wulfschilde wrote:I bought some stock options right before the drop too :hmm: This drop caught a lot of people by surprise. It seems possible that the market is taking this as an opportunity for a correction. Sucks for me but I'll live!

You're over the covid-19 already?
Praise the Lord
#15070421
blackjack21 wrote:We're in for a rally. Hourlies are way oversold. I think it goes down to 3000 our thereabouts on the S&P.


So how are things going with you? Donald is now Donna with no announcement--not that any is required. It is a curiosity. I had a co-worker switch, and I was pretty well caught off guard. He started wearing his hair long, and suddenly announced his male name was now a female name. It was one of the weirder things for me, but I'm from the SF Bay Area so I'm culturally reflexively supportive. Sanders is pretty out there. Why do you think he's not "crazy"? I used to disagree with the Democrats, but I could relate. Now, I just don't get them at all. Health care for illegal aliens at the expense of taxpayers who can't afford healthcare? It's just alien to me.


Eventually sure. But the coronavirus needs to be taken under control. Not going to happen before US and EU suffer through several large clusters and they go away.

The stock will probably go even further down when EU and US start closing shops/schools/colledges etc for whatever is needed.
#15070423
Sivad wrote:I hope it crashes, I love a crash. The only time in my life I felt genuinely happy was during the '08 crash. I was glued to my tv screaming 'crash you motherfucker! crash!'. :lol:

It is the best time to buy for sure.

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