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OT - stock market trading halted after opening down

The stock market is dropping because consumers are not spending...the consumer drives the economy.

Is there any guarantee that this virus started in China? Maybe its been in the US all along? Remember the ESPN writer who got "the flu" and died two weeks later (around New Years)? Lots of missing information that is not being discussed in the media. The media is loving this attention and fear mongering.

The ESPN reporter had an undiagnosed case of stage 4 cancer. Lots of missing information from your post.
 
I know I am tired of hearing all the conspiracy theories. It is worse than the X Files in its hey day. Maybe we should have MIke Tomlin as our leader of the Country with his Mantra "That would be an excuse and we don't make them. " Wouldn't that be a nice change of late.
 
Well, fine, but neither did I and I didn’t say that maybe he died of the coronavirus. If you have reason to believe that it didn’t start in China then link something. Easy peasy.

If there were no tests to determine the strain of the virus, how would the doctors or anyone know where it originated? (the comment about the ESPN reporter suddenly dying was just a point that many people die unexpectedly).
 
Do I have to beg for forgiveness I didn't see any of the follow up reports? [People need to chill]

or don’t be the guy that spreads tinfoil hat conspiracy theories? Regardless of the follow up reports, something tells me you aren’t qualified to and shouldn’t be determining/theorizing the cause of someone’s death, in real time or several months after the fact.
 
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or don’t be the guy that spreads tinfoil hat conspiracy theories? Regardless of the follow up reports, something tells me you aren’t qualified to and shouldn’t be determining/theorizing the cause of someone’s death, in real time or several months after the fact.

“People are saying...”
 
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...joe paterno was the first person to die of coronavirus. Nobody knew what it was back then.
giphy.gif
 

No, now that its out in the open and I've revealed the truth, Penn State is liable for all of these deaths along with the stock market collapse. Powers that be are trying to locate Rodney Erickson, as he will be signing all of the settlement checks... He will then voluntarily expose himself to the virus in a show of solidarity and remorse. University Park, and potentially State College, will be burned to the ground as well.
 
The stock market is dropping because consumers are not spending...the consumer drives the economy.

Is there any guarantee that this virus started in China? Maybe its been in the US all along? Remember the ESPN writer who got "the flu" and died two weeks later (around New Years)? Lots of missing information that is not being discussed in the media. The media is loving this attention and fear mongering.

You're randomly throwing out that perhaps the virus didn't originate where everyone agrees it originated ... and then trying to suggest some death having no ties to coronavirus could somehow be linked ... and you're claiming THE MEDIA is loving the attention and fear mongering?!? They don't hold a candle to what you just tried to accomplish in one crazy post.
 
No wonder the Chicago Public School Board just voted to change Columbus Day to Indigenous Peoples Day.

Thanks Columbus_Lion!
 
No, now that its out in the open and I've revealed the truth, Penn State is liable for all of these deaths along with the stock market collapse. Powers that be are trying to locate Rodney Erickson, as he will be signing all of the settlement checks... He will then voluntarily expose himself to the virus in a show of solidarity and remorse. University Park, and potentially State College, will be burned to the ground as well.
I am just happy to be in line to get one of those "down in front" people's season tickets.
 
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The Dow was up all morning, as much as 945 points. Now it’s down 125.
 
Seems like this has been mismanaged from the get go. Considering we have had months to get ready. We should have been getting ready with testing kits with the lead time we had. and it seems now we are caught with our pants down. This should have been a mitigation strategy from the start once it was seen what was going on in China rather than ignore and it will surely go away strategy.


Months??????????????? When we played Memphis in the Cotton Bowl on December 28, pretty much no one on the Planet even knew this existed. Vaccines and cures don't grow on trees.

One of the big differences between this and Swine Flu, which killed over 12 thousand Americans a few years back, is the media and politicians using it to cause panic. CDC reported the "Mid Range" death rate of Swine Flue in 2009/2010 at roughly 20% of those that contracted the disease. FAR higher than COVID 19
 
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The market opened down about 1800 today and trading was halted for about 15 minutes. It looks like we could see a big crash today.


Respectfully, if you are going to start a new thread re: the stock market, at least put the date in the subject line. Thank you!
 
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yeah...news the next 2-4 weeks is going to keep being bad. Stock Market is going to lose another 15-20% from where it closed on Friday. After seeing today, I think I will adjust that predicition to another 20-25% probalby by the end of this month. I don't see support in the 20,000 range, maybe down at 18,000 is where things will stabalize. I fear that 15,000 could be where it heads though at one point.
 
yeah...news the next 2-4 weeks is going to keep being bad. Stock Market is going to lose another 15-20% from where it closed on Friday. After seeing today, I think I will adjust that predicition to another 20-25% probalby by the end of this month. I don't see support in the 20,000 range, maybe down at 18,000 is where things will stabalize. I fear that 15,000 could be where it heads though at one point.

I had been predicting $20,000 for weeks and that seemed crazy at the time.
It does look like at least $17,000 is a possibility.
 
I had been predicting $20,000 for weeks and that seemed crazy at the time.
It does look like at least $17,000 is a possibility.

the question to me is what is going to stop the bleeding. the cases reported are just going to go up, the amount of deaths is just going to go up, the hoarding at stores is just going to increase. only thing to stop the slide is 'good' news. what is that "good news" in the next month?

short of some big pharma company coming up with a vaccine (which will only be available in large quantities best case end of this year) that at least puts some light at end of tunnel, the only way the stock market doesn't keep going down is that eventually the bottom hits such that people say it has gone down far enough. the government doesn't have any bullets left as the Fed went to zero and congress announced a spending bill but both of those literally were ignored.
 
the question to me is what is going to stop the bleeding. the cases reported are just going to go up, the amount of deaths is just going to go up, the hoarding at stores is just going to increase. only thing to stop the slide is 'good' news. what is that "good news" in the next month?

short of some big pharma company coming up with a vaccine (which will only be available in large quantities best case end of this year) that at least puts some light at end of tunnel, the only way the stock market doesn't keep going down is that eventually the bottom hits such that people say it has gone down far enough. the government doesn't have any bullets left as the Fed went to zero and congress announced a spending bill but both of those literally were ignored.
Nothing will stop the bleeding in the short term. I wouldn't be surprised to see a 50% hit to equities. Unlike prior collapses (1929, 1987, 2008), the rebound will be quicker. The virus is a singular issue unlike the complex web of financial issues in prior crashes (especially 2008). Once we get past the peak and are given the "all clear" signal by health authorities to begin resuming normal activities, the public will respond quickly and it will start with the small business - people will immediately begin going back out to bars, restaurants, etc. Sports and recreational activities will resume quite quickly. Major league baseball will probably benefit from an immediate jump in attendance (although they certainly will have a shortened season).

People will start traveling, airlines will add flights, hotels will be opening their doors. We may be just at the beginning of the disruption now, but this will pass in a few months and we will get back to normal rather quickly. Whether that is in 3 months, 6 months, 9 months, or a year ... I don't know.
 
Are you serious? This was only identified on Jan 7th by the Chinese.... just two months ago. Then they wouldn't allow CDC, NIH, or WHO scientists into the country and then restricted their access once permitted entry. So that means we have only had samples to work with for less than six weeks.

Then we had to research the genome, develop a test, find companies to produce the test, get their production lines and suppliers of raw materials up and running along with training the employees, test their systems for quality control, then full production, then distribute and train the testers on how to use them.

Its actually quite the feat of cooperation between government and capitalism to get so far so quickly.

Seriously, I don't know what people expect. You can't just wave your magic wand and these things suddenly appear.
Agree, but in the culture of entitlement we live in, many people think you do just wave a magic wand if they scream like children about it.
 
Nothing will stop the bleeding in the short term. I wouldn't be surprised to see a 50% hit to equities. Unlike prior collapses (1929, 1987, 2008), the rebound will be quicker. The virus is a singular issue unlike the complex web of financial issues in prior crashes (especially 2008). Once we get past the peak and are given the "all clear" signal by health authorities to begin resuming normal activities, the public will respond quickly and it will start with the small business - people will immediately begin going back out to bars, restaurants, etc. Sports and recreational activities will resume quite quickly. Major league baseball will probably benefit from an immediate jump in attendance (although they certainly will have a shortened season).

People will start traveling, airlines will add flights, hotels will be opening their doors. We may be just at the beginning of the disruption now, but this will pass in a few months and we will get back to normal rather quickly. Whether that is in 3 months, 6 months, 9 months, or a year ... I don't know.
I doubt the rebound will be all that quick. This may shake our psyche for some time to come.
 
Nothing will stop the bleeding in the short term. I wouldn't be surprised to see a 50% hit to equities. Unlike prior collapses (1929, 1987, 2008), the rebound will be quicker. The virus is a singular issue unlike the complex web of financial issues in prior crashes (especially 2008). Once we get past the peak and are given the "all clear" signal by health authorities to begin resuming normal activities, the public will respond quickly and it will start with the small business - people will immediately begin going back out to bars, restaurants, etc. Sports and recreational activities will resume quite quickly. Major league baseball will probably benefit from an immediate jump in attendance (although they certainly will have a shortened season).

People will start traveling, airlines will add flights, hotels will be opening their doors. We may be just at the beginning of the disruption now, but this will pass in a few months and we will get back to normal rather quickly. Whether that is in 3 months, 6 months, 9 months, or a year ... I don't know.

I hope you are right, but this could blow GDP for a couple of quarters even if now is the worst of the virus (and it isn’t, at least not here); this is likely well into 2021.
 
I hope you are right, but this could blow GDP for a couple of quarters even if now is the worst of the virus (and it isn’t, at least not here); this is likely well into 2021.
I don't disagree the financial impact will extend into 2021, but I do think there will be a rather quick rebound in consumer behavior once this passes, thus making the turn around quicker than prior crashes.

If you have a long term perspective (5+) years, this shouldn't be too harmful to most people. I understand some people will be hurt in the short-term, but most people will rebound comfortably ( I hope!!).
 
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I had been predicting $20,000 for weeks and that seemed crazy at the time.
It does look like at least $17,000 is a possibility.

$20,000???? If you're going to try to pretend to understand the market, you should realize the DOW is measured in points, not $$$ o_O
 
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Today was a first-rate ASS. BEATING. :eek: . I miss the good old days when the Dow would just drop 700 points.
 
so closed at 20,188 down 13% today. Now down from a high of 29,000 in february which is 30%. How far is this going to go? I cannot see how this doesn't go down another 10+% at least which is 18,000 level. Just still scratching my head where and how the slide stops? Any thoughts. i am in for the long haul just have some cash on the side and wondering when to hop back in.
 
You're both wrong. He was predicting the market was going to $20,000. Although the points in the DOW translate to dollars, one point does not equal one dollar.

For example, point might translate to $1 million. Thus, the DOW is not even close to $20,000.
That's correct, not in market value. But the index itself can be reported in points or dollars, that was my point.
 
Nothing will stop the bleeding in the short term. I wouldn't be surprised to see a 50% hit to equities. Unlike prior collapses (1929, 1987, 2008), the rebound will be quicker. The virus is a singular issue unlike the complex web of financial issues in prior crashes (especially 2008). Once we get past the peak and are given the "all clear" signal by health authorities to begin resuming normal activities, the public will respond quickly and it will start with the small business - people will immediately begin going back out to bars, restaurants, etc. Sports and recreational activities will resume quite quickly. Major league baseball will probably benefit from an immediate jump in attendance (although they certainly will have a shortened season).

People will start traveling, airlines will add flights, hotels will be opening their doors. We may be just at the beginning of the disruption now, but this will pass in a few months and we will get back to normal rather quickly. Whether that is in 3 months, 6 months, 9 months, or a year ... I don't know.

I do not think the rebound will be quick. This is demand destruction and huge uncertainty; it is going to push a lot of marginal companies into bankruptcy.
 
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