[Tainari88]

@Donna are you the old @Donald?

If you are? I think a lot of people missed you before?

So do you think maybe if Bernie loses and Trump inherits a semi Depression or outright crash and depression will he get support and will he give up his time in office in 2025?

I have to guess if he inherits a tanked economy? The lies will be even more obvious. Obama got stuck with a bad economy. If Bernie does? I wonder what might work?

Interesting to think about it.

[Crantag]

double post

[Crantag]

Looks like we had a late-day sell off. The Dow is closing down another 1193 points / 4.29%. S&P down 138 points / 4.43%. Nasdaq is down 414 points, 4.61%.

(As an aside, does anyone know why stock markets use, and more so media reports, stock market movements in terms of points? Why not just use percentages? For example, when they say Monday was the Dow's '3rd biggest points loss in history', isn't it a little misleading because the points loss represents a lower proportion of the total compared to the past.)


Edit: We have an inverted yield curve of 10-year and 3-month treasuries, as well.

https://www.usatoday.com/story/money/20 ... 889977002/

Dow plunges 1,000 points, enters correction territory on fears the coronavirus could spread in USA

Rising anxiety over the global coronavirus outbreak pushed the stock market into a new zone of fear Thursday.

After falling sharply all week, the Dow Jones Industrial Average tumbled more than 1,000 points on mounting worries that the virus could spread in the USA as the number of worldwide cases topped 82,000. Thursday's losses put the blue-chip average on pace to close into a correction – a decline of 10% from a recent high – for the first time since December 2018.

The sharp declines wiped out the Dow’s gains for the year and trillions of dollars from investors' portfolios in a matter of days. Heading into Thursday, the average was down 7% this week, on track for its worst weekly percentage performance since the depths of the financial crisis in 2008.

Traders are concerned the global economy could stumble as major industrial countries struggle to contain the outbreak. The U.S. economy remains strong, driven by record low unemployment, a firming housing market and robust consumer spending, which accounts for more than two-thirds of U.S. economic growth.

"No one feels that there's any certainty on how we're going to contain this virus and what the true ripple effects are going to be for the economy," says Jonathan Corpina, senior managing partner at broker-dealer Meridian Equity Partners. "That uncertainty is causing fear in our communities and in the stock market. The fear can only stop when the U.S. government steps up and addresses this."

The yield on the 10-year Treasury, a closely watched barometer for the U.S. economy, briefly hit a record low, sliding to below 1.25% Thursday, down from 1.34%. The yield on the three-month Treasury bill edged up to 1.50%. The inversion in the yield between the 10-year and the three-month Treasurys is a red flag for investors because it has preceded the past seven recessions.

“People who keep trying to call a recession are missing the fact that the U.S. consumer feels comfortable about their financial position,” says Michael Antonelli, market strategist at Baird. “But if the virus spreads and hits U.S. shores, it will absolutely hit household sentiment. Once the U.S. consumer cracks, then the whole story around the stock market starts to falter.”

Financial markets have been spooked by concerns the deadly virus will hinder the longest U.S. economic expansion on record, which is approaching its 11th year. Data released Thursday showed the U.S. economy grew at a moderate 2.1% annualized pace in the fourth quarter, the Commerce Department said in its second estimate.

The Standard and Poor’s 500 dropped as much as 3.5%, putting the index into a correction in intraday trading after hitting a record Feb. 19. The Nasdaq, which had slumped more than 3% after the opening bell Thursday, was off more than 10% from its Feb. 19 all-time high in afternoon trading.

President Donald Trump announced late Thursday the United States was stepping up its efforts to combat the virus outbreak. Shortly after Trump spoke, the government announced that another person in the USA was infected – someone in California who didn't have the usual risk factors of having traveled abroad or being exposed to another patient.

Trump said he didn’t believe a pandemic was inevitable, though health officials warned more infections are coming.

“The efforts by Trump to calm the markets are being overshadowed by the news from the CDC of a possible transmission of the virus in the U.S.,” Peter Cardillo, chief market economist at Spartan Capital Securities, said in a note. “We continue to recommend staying cautious.”

Investors have shifted money from stocks into safe havens such as gold in the wake of the outbreak. Gold climbed $7.60 to $1,650.70 per ounce.

Germany’s DAX lost 3.1% and the CAC 40 in Paris dropped 3.3%. In London, the FTSE 100 lost 3.5%. Japan’s Nikkei 225 index lost 2.1% while in Australia, the S&P ASX/200 dropped 0.8%. Hong Kong’s climbed 0.3%.

Contributing: The Associated Press

[late]

An ill wind blows someone good...

The way this virus is kicking the stuffing out of the markets may be a good thing. I wasn't the only one worried this might be a bubble that got real messy when it blew.

[Crantag]

An ill wind blows someone good...

The way this virus is kicking the stuffing out of the markets may be a good thing. I wasn't the only one worried this might be a bubble that got real messy when it blew.

That's one possibility. Another is that this is just the start. The pandemic is still developing, and if the market somewhat tracks official narratives (i.e. how first the CDC remarks, and now today the community spread infection in California). Couple that with the faultiness of the said same official information (anyone paying attention was already aware of everything the CDC said days and weeks ago, and community infection and escalation in the US has also been anticipated) and I'm expecting to see more excitement in the market to come. So those paying attention apparently already had the memo well before the market.

Another example, Brazil's stock market has been in complete meltdown since cases were confirmed there.

The coming supply shocks from the closed factories, stalled shipping, and general disruptions in trade, etc., are also on the horizon.


I do understand your point though. A complete crash is at this time a less likely scenario probably (because a crash is such an extraordinary event), and I was meaning to mention it as also one possibility among the range of potentialities.

[Donna]

Trump is getting nervous. He knows his legacy is hinging on the Obama economy/bull market and if the house of cards doesn't hold then it will be difficult to blame it on Bernie Sanders or the Democrats. Right-wing conspiracy mongers are losing their minds over COVID-19 too. All is not well in MAGA country.

[Hindsite]

Trump is getting nervous. He knows his legacy is hinging on the Obama economy/bull market and if the house of cards doesn't hold then it will be difficult to blame it on Bernie Sanders or the Democrats. Right-wing conspiracy mongers are losing their minds over COVID-19 too. All is not well in MAGA country.

You are wrong again.

[Donna]

You are wrong again.

Oh

[Hindsite]

Oh

Just wait. We'll see.
Praise the Lord.

[blackjack21]

Looks like I spoke too soon. S&P has broken 2900. Pretty solid support at 2800. What are people thinking of buying?

I'm looking at things in the cloud space that have been beaten up, but I still think these stocks have some downside.

ZS
MRVL
XLNX
CRUS
QCOM
COHR
PSTG
OLED

Basically, 5G is a slower roll out than the hype machine, and China's going to hit recession with this Coronavirus. However, this stuff will ramp up in 2021. So we should start seeing some great values in the cloud space, chips, and mobile technologies just a year out from when 5G should really be taking off.

[Donna]

Adobe and Nvidia might be a good buy right now. But that's besides the point, we're looking at a recession this year.

[Wulfschilde]

The market probably tries to rally again on Monday. I don't know if they'll get it yet. The media is treating this like the black plague because they found a dog with the coronavirus:
https://time.com/5792150/coronavirus-dog/



these are trying times we must vote for bernie extreme measures guys

[Patrickov]

The market probably tries to rally again on Monday. I don't know if they'll get it yet. The media is treating this like the black plague because they found a dog with the coronavirus

Oh yeah, again in Hong Kong.

One should note that the virus seems spreading across class boundaries. This dog's owner is apparently a very rich woman.

In Iran, a Vice President is infected (equivalent to a department head in the US, instead of someone equivalent to Pence getting it)

Not to mention a lot of deaths of Chinese officials. One member even speculated that Pope Francis might have contacted it (although I have since pointed out it's probably something else).

[Wulfschilde]

Yeah the panic is not finished yet. I think the cooler heads will try to rally on Monday, which is when I'll sell off some of my holdings. It will crash a little more but the big money guys probably don't want to go much lower. That's my guess anyway.

@blackjack21 has an interesting buy list there but I really only buy things with really active options because that's what I work with lately. The opportunity to buy is in there somewhere though, that's for sure...

[QatzelOk]

Right-wing conspiracy mongers are losing their minds over COVID-19 too.

Is this why mass media is injecting us with this latest plague fear?

Having quit mass media 20 years ago, I'm still scared of Zika, Ebola, and African Killer bees because everyone I know interacts with commercial media products.

I'm not rally glad mass media uses these kinds of prods to control its cattle (us).

"Stock Market be Praised!" seems like the purpose this time. People don't realize how biblical the stock market is, so a disease scare might whip them up into the kind of frenzy the 1% need right now.

[Rich]

Right-wing conspiracy mongers are losing their minds over COVID-19 too. All is not well in MAGA country.

My landlords away at the moment, he usually keeps me up to date on the latest conspiracy theories. However I think its very possible this was started deliberately by China's Red fascist government, as a way of justifying authoritarian government and delegitimising freedom and democracy.

[Donna]

My landlords away at the moment, he usually keeps me up to date on the latest conspiracy theories. However I think its very possible this was started deliberately by China's Red fascist government, as a way of justifying authoritarian government and delegitimising freedom and democracy.

The entire thing has destabilized the Chinese government more than anything, especially since there is a lot of public anger over how it's being handled. Do you even follow the news?

[Wulfschilde]

Coronavirus fvcking my portfolio
got me feeling like Cornholio
had dreams like Ulysses
thought hedging is for wussies
least I still got my health
and 4/5ths of the wealth

[Hindsite]

Adobe and Nvidia might be a good buy right now. But that's besides the point, we're looking at a recession this year.

No recession as long as we have the Trump of God.
Praise the Lord.

[QatzelOk]

But if the Stock Market finally crashes, and the American dollar takes a huge hit... how will the 1% be able to use tax dollars to pay the mercenaries they pay to fight all their wars?

Will we see the USA suddenly switch to land-wars against Latin American countries (with drones as helpers)?