The Briefing Room
General Category => Economy/Business => Topic started by: mystery-ak on February 24, 2020, 03:34:20 pm
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Dow Jones plummets 900 points as coronavirus cases surge
The worldwide death toll from the novel coronavirus has risen to 2,612.
By
Catherine Thorbecke
February 24, 2020, 8:37 AM
2 min read
The Dow Jones Industrial Average plummeted more than 900 points on Monday as the number of coronavirus infections around the world have surged.
As markets opened Monday, the worldwide death toll from the novel coronavirus has risen to 2,612, with a vast majority of them in China.
Outside of China, there have also been reports of the virus spreading rapidly in Japan, South Korea and Italy.
The S&P 500 and Nasdaq also tumbled Monday morning, by more than 2.6% and 3%, respectively.
more
https://abcnews.go.com/Business/dow-jones-plummets-900-points-coronavirus-cases-surge/story?id=69174540&cid=clicksource_4380645_1_heads_hero_live_hero_hed
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This will become the rat strategy to retake the White House in November.
C'mon Coronavirus!
Katrina redux.
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It's a very real concern about supply chains. There are large shipping companies refusing to port in China. I think I read Maersk halted shipments last weak.
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This will become the rat strategy to retake the White House in November.
C'mon Coronavirus!
Katrina redux.
That is exactly what the Rats are praying for. They want people to die so they can declare this "Trump's Katrina."
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That is exactly what the Rats are praying for. They want people to die so they can declare this "Trump's Katrina."
I have no doubt about that. They are insane to win power back.
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I have no doubt about that. They are insane to win power back.
The markets move on fear and greed..... I told my dear old mom last week that she'd better be prepared for a 25% haircut in the market due to the virus coming. Heck...I even considered getting facemasks... Still may.
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I even considered getting facemasks... Still may.
You probably will have trouble finding them to buy this late.
https://www.amazon.com/slp/flu-mask/fxmf7b7o79qa7z9 (https://www.amazon.com/slp/flu-mask/fxmf7b7o79qa7z9)
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!@#$%&*
BTW it's a thousand points as of 4 pm EST
(Nasdaq 355.31
S&P 111.86)
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Closed down about 1030 or so. That was the lowest point of the day, not a good sign.
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Closed down about 1030 or so. That was the lowest point of the day, not a good sign.
Thanks for the update. I was reading from my FA's newsfeed, which may or may not be accurate much of the time. Or maybe they stopped counting after an even thousand.
But somewhere in my pea brain I knew this wax coming. Market has been jittery about the virus for some time. About the only thing that stalled the plunge of late was some good economic news, particularly a few earnings reports. But I knew that was only going to be temporary.
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This is a genuine supply side economic shock. Not a lightening of demand due to overstretched consumers or inflation, but lost economic output due to a hit to the infrastructure that cripples capacity and the ability to deliver goods.
What that means for the market is that instead of looking out 6 months to a year at things, and discounting the meaningless chaff news, they will now be reacting to everything that comes across the tape as they try to assess the economic impact of this virus in very murky waters.
Expect serious volatility. A crash is a possibilty.
The global economy is entirely too dependent on China, who is between a rock and a hard place with this virus. We are going to pay right along with them just because of our dependence on their supply chains.
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The Dow tumbled more than 1,000 points and marked its third-worst point drop in history — here’s how the stock market tends to perform after big drops
Market Watch
https://www.marketwatch.com/story/the-dow-is-off-by-more-than-a-1000-points-and-heading-for-its-second-worst-point-drop-in-its-history-heres-how-the-stock-market-tends-to-perform-afterward-2020-02-24?siteid=yhoof2&yptr=yahoo (https://www.marketwatch.com/story/the-dow-is-off-by-more-than-a-1000-points-and-heading-for-its-second-worst-point-drop-in-its-history-heres-how-the-stock-market-tends-to-perform-afterward-2020-02-24?siteid=yhoof2&yptr=yahoo)
It finally happened.
A bona fide selloff took hold Monday on Wall Street after investors spent weeks attempting to come to terms with the potential impact of the COVID-19 outbreak as it spreads in countries outside of China, notably Italy and Iran, threatening to dent global supply chains and economies.
There are now 79,339 cases of COVID-19 — the infectious disease derived from the novel strain of coronavirus that reportedly originated in Wuhan, China, last year — in 30 countries, and 2,619 deaths, according to the latest figures from the World Health Organization.
Third-biggest point drop...ever
The day’s decline marks the third-biggest daily point drop for the Dow Jones Industrial Average DJIA, -3.56% in its 124-year history. The blue-chip benchmark closed 1,031.33 points, or 3.56%, lower, to end at 27,961, not far from the intraday low at 27,912.44.
To be sure, such point drops are less meaningful because the Dow has been trading at lofty levels. For example, the Dow’s 1987 crash was a 508-point decline but that fall represented a 23% plunge back then.
Need to Know: Warren Buffett says ‘don’t buy or sell’ on the headlines as coronavirus sends stocks plunging
3% or worse
Monday’s selloff marks the first time all three major benchmarks — the Dow, the S&P 500 index SPX, -3.35%, and the Nasdaq Composite Index COMP, -3.71% — each fell by at least 3% on the same day since Dec. 4, 2018, according to Dow Jones Market Data.
Negative for the year
Monday’s downturn has wiped out this year’s gains for the Dow (now -2.02%) and the S&P 500 (now -0.15%).
More at link.
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!@#$%&*
BTW it's a thousand points as of 4 pm EST
(Nasdaq 355.31
S&P 111.86)
@Applewood I cannot legally tell you how to invest your money. If it were my money, at only a few percentage points off the high from the huge bull run we just had, I would be OUT of the market and in cash as fast as I could get there.
As I said above, this is a serious supply side economic shock. Not something you can just speed bump over and continue at cruising speed. This is going to dent the world economy in a serious way, and the downside risk to the market is huge.
That's what I'd do if it were me anyway. Give it thought.
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@Applewood I cannot legally tell you how to invest your money. If it were my money, at only a few percentage points off the high from the huge bull run like we just had, I would be OUT of the market and in cash as fast as I could get there.
As I said above, this is a serious supply side economic shock. Not something you can just speed bump over and continue at cruising speed. This is going to dent the world economy in a serious way, and the downside risk to the market is huge.
That's what I'd do if it were me anyway. Give it thought.
Thanks for your advice. I just got an email from my adviser. "Two words: Don't Panic" He knows I go crazy every time there is a big drop. I'll be talking to him tomorrow.
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I remember when the stock market dropped 100 points because Greenspan had a car accident... no injuries, just bent sheet metal.
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Cyber wrote:
"That is exactly what the Rats are praying for. They want people to die so they can declare this "Trump's Katrina.""
And skeeter replied:
"I have no doubt about that. They are insane to win power back."
If the China epidemic turns pandemic, and if it breaks out here, and if the stock market continues to slide, it could very well have great impact on the coming election.
I predict we'll see the democrat-communists actually opposing the efforts Mr. Trump and the Republicans make to keep a lid on things.
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Cyber wrote:
"That is exactly what the Rats are praying for. They want people to die so they can declare this "Trump's Katrina.""
And skeeter replied:
"I have no doubt about that. They are insane to win power back."
If the China epidemic turns pandemic, and if it breaks out here, and if the stock market continues to slide, it could very well have great impact on the coming election.
I predict we'll see the democrat-communists actually opposing the efforts Mr. Trump and the Republicans make to keep a lid on things.
I'd bet a Hunnert Dollah on it.
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That is exactly what the Rats are praying for. They want people to die so they can declare this "Trump's Katrina."
They'd be elated if thousands die. Dems are sickos.
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Thanks for your advice. I just got an email from my adviser. "Two words: Don't Panic" He knows I go crazy every time there is a big drop. I'll be talking to him tomorrow.
Just got a call from our adviser. He’s taking money out of the market and putting it in something more secure temporarily to ride this out.
My husband isn’t a risk taker and thinks it’s better to not earn for a little while rather than lose a lot with a potential global economic crisis.
FWIW.....
(We’re retired).
@Applewood
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SP500 futures have rebounded some and are holding during the Asia trading hours so far, which is a good sign for tommorow.
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And then, there was this:
Trump says the stock market is 'starting to look very good' after the Dow plunged over 1,000 points amid coronavirus fears
President Trump said in a Monday afternoon tweet that the "stock market is starting to look very good to me" on a day the Dow plunged over 1,000 points, largely over fears of the spreading coronavirus.
"The Coronavirus is very much under control in the USA," Trump said on Twitter. "We are in contact with everyone and all relevant countries. CDC & World Health have been working hard and very smart. Stock Market starting to look very good to me!"
https://markets.businessinsider.com/news/stocks/trump-stock-market-starting-look-very-good-plunging-1000-points-2020-2-1028933348
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I take more of a Warren Buffett approach to investing, long term:
https://www.marketwatch.com/story/warren-buffett-says-dont-buy-or-sell-on-the-headlines-as-coronavirus-sends-stocks-plunging-2020-02-24 (https://www.marketwatch.com/story/warren-buffett-says-dont-buy-or-sell-on-the-headlines-as-coronavirus-sends-stocks-plunging-2020-02-24)
...However, in our call of the day, Warren Buffett told investors not to buy or sell stocks, which he referred to as businesses, based on the day’s headlines.
“The real question is: ‘Has the 10-year or 20-year outlook for American businesses changed in the last 24 or 48 hours?’†the billionaire investor said on CNBC.
“You’ll notice many of the businesses we partially own, American Express AXP, -4.97% , Coca-Cola KO, -2.46% — those are businesses and you don’t buy or sell your business based on today’s headlines. If it gives you a chance to buy something you like and you can buy it even cheaper then it’s your good luck,†the chairman and CEO of Berkshire Hathaway BRK.B, -3.33% added....
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The FTSE and the Nikkei are trading down today. No doubt Wall Street will be down as well.
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The DJIA opened up about 150 points this morning.
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Meanwhile..... aholes like Soros get even more filthy rich off of the misfortunes of others. Makes you wonder if some of these scenarios might be contrived.
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Meanwhile..... aholes like Soros get even more filthy rich off of the misfortunes of others. Makes you wonder if some of these scenarios might be contrived.
I've often thought it weird that when someone hiccups, the market falls. This virus -- ok, it has adversely affected businesses dealing with China, but really -- the market plunges bigly? Just hard for me to grasp.
By the way, the president should be careful what he says. His remarks yesterday about the market doing well as the Dow tanks do not inspire confidence and actually may make things worse.
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Cyber wrote:
"That is exactly what the Rats are praying for. They want people to die so they can declare this "Trump's Katrina.""
And skeeter replied:
"I have no doubt about that. They are insane to win power back."
If the China epidemic turns pandemic, and if it breaks out here, and if the stock market continues to slide, it could very well have great impact on the coming election.
I predict we'll see the democrat-communists actually opposing the efforts Mr. Trump and the Republicans make to keep a lid on things.
Schumer and nanna have already begun to set the table for how they're gonna play this.
Its so transparently & predictably political I don't know why everyone isn't completely repelled by these people. They are irredeemably deranged.
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Schumer and nanna have already begun to set the table for how they're gonna play this.
Its so transparently & predictably political I don't know why everyone isn't completely repelled by these people. They are irredeemably deranged.
The media is helping the Dems in this regard as well. WaPo and the Times are already doing the phony wringing of their hands over how this drop will adversely affect Trump's re-election chances.
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I've often thought it weird that when someone hiccups, the market falls. This virus -- ok, it has adversely affected businesses dealing with China, but really -- the market plunges bigly? Just hard for me to grasp.
It's all about perception. If the powers that be (investors) perceive that due to the Coronavirus (or whatever other disaster might be occurring) that they will be losing money, the investors pull out money and the market suffers (lowered stock prices). People like Soros then swoop in and take advantage. It's a system that enables the vultures to feed off of disasters.... so they do.
By the way, the president should be careful what he says. His remarks yesterday about the market doing well as the Dow tanks do not inspire confidence and actually may make things worse.
I am forced to agree. But the market WAS doing well before it tanked yesterday. Just.... sayin....
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The media is helping the Dems in this regard as well. WaPo and the Times are already doing the phony wringing of their hands over how this drop will adversely affect Trump's re-election chances.
There was a time when such blatant political opportunism would've been widely recognized & condemned.
I do not know if the public, least of all rank and file democrats, are capable of evaluating the morality of such tactics any longer.
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I've often thought it weird that when someone hiccups, the market falls. This virus -- ok, it has adversely affected businesses dealing with China, but really -- the market plunges bigly? Just hard for me to grasp.
By the way, the president should be careful what he says. His remarks yesterday about the market doing well as the Dow tanks do not inspire confidence and actually may make things worse.
We were due for a correction anyway. The coronavirus just made it more dramatic.
What I worry about is what happens from here. This is not like a nuke or an earthquake, a localized one-time event.
This is still growing and spreading, people are getting sick, being quarantined, and unable to work on a global basis.
That hits all end of the supply chain, as well as demand. Once it's lost, it's lost, and may be difficult to rebuild back to 100% of the previous output.
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We were due for a correction anyway. The coronavirus just made it more dramatic.
What I worry about is what happens from here. This is not like a nuke or an earthquake, a localized one-time event.
This is still growing and spreading, people are getting sick, being quarantined, and unable to work on a global basis.
That hits all end of the supply chain, as well as demand. Once it's lost, it's lost, and may be difficult to rebuild back to 100% of the previous output.
That was one hell of a "correction" yesterday. LOL
By the way -- personal note -- just got off the phone with the advisor. He told me keep my nest egg as is. I believe Warren Buffett said the same thing -- don't buy or sell. I lost around $3,000 yesterday -- not happy about it, but it's not a total disaster. I'm lucky my adviser talked me into spreading my money around to different investment vehicles. When the Dow goes south, I still have the others to fall back on. I just hope this doesn't get worse and eventually impact the others.
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By the way, guys, I'm looking at a chart of global markets. The only one up today is Dow Jones-Shenzhen (China) by 3.12.
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That was one hell of a "correction" yesterday. LOL
By the way -- personal note -- just got off the phone with the advisor. He told me keep my nest egg as is. I believe Warren Buffett said the same thing -- don't buy or sell. I lost around $3,000 yesterday -- not happy about it, but it's not a total disaster. I'm lucky my adviser talked me into spreading my money around to different investment vehicles. When the Dow goes south, I still have the others to fall back on. I just hope this doesn't get worse and eventually impact the others.
In absolute numbers it was, percentage wise fairly normal. It just happened in one day instead of the usual several.
I'm a day trader, so I'm more about hitting tops and bottoms, when to get in and out. Not much of a fan of Warren Buffet.
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In absolute numbers it was, percentage wise fairly normal. It just happened in one day instead of the usual several.
I'm a day trader, so I'm more about hitting tops and bottoms, when to get in and out. Not much of a fan of Warren Buffet.
No fan of Buffy either, but it looks like this is the advice many of us are getting.
I'm in a bind. For a long time I made some unwise investment decisions that caused a lot of damage to my retirement nest egg, so I'm playing "catch up" so to speak. At my age, I should be more invested in safer vehicles, but I still need growth and alas, the market is the best and maybe only place I can get it. Unfortunately, it's a hell of a risk.
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A "correction"is a 10% drop, and we didn't get anywhere near that yesterday, as bad as it was. Meanwhile, there's another drop today under way, -365 as of now. We are certainly headed toward the expected correction.
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My advisor always says to stay the course.
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Down 500 at 1pm.
Will it recover or sink further by closing time?
(I haven't had any skin in stocks for many years...)
Addendum:
Down 900+ by 2.30pm
How low will it go...?
How many days like the last two before they suspend trading for a while...?
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My advisor suggested staying the course mainly -- selling just a few stocks to reduce some risk and those not paying the great of a dividend anyways and to definitely get out of international exposure.
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And as of now, the Dow is down a little over 900. Sigh!
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Dow falls more than 800 points as health officials brace for US coronavirus spread
https://thehill.com/policy/finance/484541-stocks-sink-as-health-officials-brace-for-us-coronavirus-spread
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Dow falls more than 800 points as health officials brace for US coronavirus spread
https://thehill.com/policy/finance/484541-stocks-sink-as-health-officials-brace-for-us-coronavirus-spread
IMHO when when cases start rising in the U.S. is when we will see a recession. I'm hoping it doesn't get to that point.
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And as of now, the Dow is down a little over 900. Sigh!
Buying opportunities coming soon. That's how I made out well in '87, '01, and '09. Still need about another 10-15% correction for me to really bite.
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Buying opportunities coming soon. That's how I made out well in '87, '01, and '09. Still need about another 10-15% correction for me to really bite.
:amen:
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@Applewood I cannot legally tell you how to invest your money. If it were my money, at only a few percentage points off the high from the huge bull run we just had, I would be OUT of the market and in cash as fast as I could get there.
As I said above, this is a serious supply side economic shock. Not something you can just speed bump over and continue at cruising speed. This is going to dent the world economy in a serious way, and the downside risk to the market is huge.
That's what I'd do if it were me anyway. Give it thought.
already done.
Those who stay 100% in after seeing their next egg shoot up to ridiculously high levels are not risk-takers.
They are just plain stupid.
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They'd be elated if thousands die. Dems are sickos.
And they can make this happen.
Take California for example. It can deliberately import infected people then spread them out to the general populace in Greyhound buses to other states in order to instill panic as the virus spreads.
Nothing is past the primeval ooze these libs sprung from
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Buying opportunities coming soon. That's how I made out well in '87, '01, and '09. Still need about another 10-15% correction for me to really bite.
Yep. Only if one remained solely in equities is that opportunity lost.
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Dow plunges deeper into correction territory, is now down 950 points
Published Wed, Feb 26 20206:01 PM EST Updated Moments Ago
https://www.cnbc.com/2020/02/26/dow-futures-fall-after-microsoft-issues-coronavirus-warning.html (https://www.cnbc.com/2020/02/26/dow-futures-fall-after-microsoft-issues-coronavirus-warning.html)
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Dow plunges deeper into correction territory, is now down 950 points
Published Wed, Feb 26 20206:01 PM EST Updated Moments Ago
https://www.cnbc.com/2020/02/26/dow-futures-fall-after-microsoft-issues-coronavirus-warning.html (https://www.cnbc.com/2020/02/26/dow-futures-fall-after-microsoft-issues-coronavirus-warning.html)
CVX @ 94?
XOM @ 50?
Getting interesting.....
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CVX @ 94?
XOM @ 50?
Getting interesting.....
XOM paying 6% dividend at this point....very very interesting.
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Dow plunges nearly 1,200 points to close in correction territory
Stocks ended sharply lower again after a volatile session Thursday as traders worried the coronavirus might be spreading in the U.S. A slew of corporate and analyst warnings on the virus also dragged down the major averages.
The Dow closed down nearly 12,00 points. The S&P 500 sank 4.1%, while the Nasdaq plunged 4.3%. The Dow is now on pace for its worst weekly performance since the financial crisis.
https://www.msn.com/en-us/money/markets/stocks/ar-BB10rty7?ocid=spartanntp (https://www.msn.com/en-us/money/markets/stocks/ar-BB10rty7?ocid=spartanntp)
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:thud:
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:thud:
My feelings as well.
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Putting my money under the mattress is looking better and better.
I'm kidding. Sort of.
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Oh. My. Goodness.
I made the mistake of looking at my Fidelity account. 8888crybaby
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Oh. My. Goodness.
I made the mistake of looking at my Fidelity account. 8888crybaby
We've been invested in the market since 1993 and have been on all kinds of market roller coaster rides. This has to be the absolute scariest...another drop and I'll be puking. :3:
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This is why I don't like brokers and other so-called financial experts. They don't know jack how the market works and certainly can't trade the tops and bottoms.
Their only advice is 'buy and hold!' which sounds great till you realize it took 5+ years to break even after the last crash.
Hang on to your hats. The market is still sinking after hours, and I don't see evidence we've hit a selling climax.
Tommorow could be a doozy.
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This is why I don't like brokers and other so-called financial experts. They don't know jack how the market works and certainly can't trade the tops and bottoms.
Their only advice is 'buy and hold!' which sounds great till you realize it took 5+ years to break even after the last crash.
Hang on to your hats. The market is still sinking after hours, and I don't see evidence we've hit a selling climax.
Tommorow could be a doozy.
Wish I was 25 yrs old, with about a little wad of about $100K in reserve right now. Man this would an opportunity.
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Dow's point drop worst on record as stocks fall into correction
https://www.foxbusiness.com/markets/us-stocks-feb27-2020 (https://www.foxbusiness.com/markets/us-stocks-feb27-2020)
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This is why I don't like brokers and other so-called financial experts. They don't know jack how the market works and certainly can't trade the tops and bottoms.
Their only advice is 'buy and hold!' which sounds great till you realize it took 5+ years to break even after the last crash.
Hang on to your hats. The market is still sinking after hours, and I don't see evidence we've hit a selling climax.
Tommorow could be a doozy.
Futures are showing a 1,300 pt. drop tomorrow. There is absolutely nothing positive out there to stop the market from continuing to plummet. :crying:
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Futures are showing a 1,300 pt. drop tomorrow. There is absolutely nothing positive out there to stop the market from continuing to plummet. :crying:
Today DJIA closed at 25,766.64
Dow futures at this exact second- 25,535.
Where are you seeing this 1,300 drop?
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Futures are showing a 1,300 pt. drop tomorrow. There is absolutely nothing positive out there to stop the market from continuing to plummet. :crying:
A 2000 point or more drop tomorrow would not shock me.
Which might not be a bad thing. The market needs to find the bottom with a little drama, and stabilize. The days of just steady pounding we've had the last week are far more scary.
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This is why I don't like brokers and other so-called financial experts. They don't know jack how the market works and certainly can't trade the tops and bottoms.
Their only advice is 'buy and hold!' which sounds great till you realize it took 5+ years to break even after the last crash.
Hang on to your hats. The market is still sinking after hours, and I don't see evidence we've hit a selling climax.
Tommorow could be a doozy.
I call them skimmers as the way they make money is to skim it off of yours, without risk.
Nothing too bad happening as the days of being all-in on equities are way past me.
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How many successive days of 1,000 point drops can be sustained?
Could the government just put the kibosh on it and order the markets closed until further notice?
Totally off-the-wall comment:
Still think this election is gonna be a runaway for Mr. Trump...?
Even against Komrade Bernie...?
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How many successive days of 1,000 point drops can be sustained?
Could the government just put the kibosh on it and order the markets closed until further notice?
Totally off-the-wall comment:
Still think this election is gonna be a runaway for Mr. Trump...?
Even against Komrade Bernie...?
The market is going to sell off as long as those invested sell. The gains are nearly erased and there is nothing positive to stop the sell off. Two things always drive the market; fear and greed. Right now we have fear.
Because this has affected the 2nd largest economy in the world, it's bound to affect the U.S., possibly and looking more like we are heading into a global recession -- that is unknown territory. In the long run perhaps we may see that U.S. economy as one of the only viable economies left, provided that Trump remains in office. Bernie gets in and there won't be any recovery, we'll be another Venezuela ... exactly what Soros and the rest of the globalists want ... that's suits some in this forum just fine, but they'll regret their wish.
With the corruption and the underhandedness from the left, IMHO, Trump's re-election was NEVER certain. Never.
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How many successive days of 1,000 point drops can be sustained?
Could the government just put the kibosh on it and order the markets closed until further notice?
Totally off-the-wall comment:
Still think this election is gonna be a runaway for Mr. Trump...?
Even against Komrade Bernie...?
@Fishrrman
The fund managers will get tired of sitting on the side and will start buying soon. They cannot make any money unless it is invested and you don't lose anything unless you sell.The media will tire of whipping up the hysteria to sell more advertising and we will move on to something else and get back to "normal"
Russia, Russia, Russia then it was impeach impeach impeach, now it is were all gonna die... Until we don't.
As long as the Trump administration stays focused, they will be successful, not that there won't be bumps along the way, there always is.
I never really thought that the election would be a runaway but I think Trump should win but you never know what crap the left is going to pull.Bernie is great at his memorized sound bites but have noticed when the question/subject requires complex analysis he gets lost.
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I've often thought it weird that when someone hiccups, the market falls. This virus -- ok, it has adversely affected businesses dealing with China, but really -- the market plunges bigly? Just hard for me to grasp.
By the way, the president should be careful what he says. His remarks yesterday about the market doing well as the Dow tanks do not inspire confidence and actually may make things worse.
He did not say it was doing well, but that it was looking good.
Buy low, sell high.
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Seeing a glimmer of buying on the overnite. There for awhile it looked like it was starting to freefall.
Lets see how far into the day it lasts. The market looks like it still has plenty of room to run on the downside and I don't see much propping it up.
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He did not say it was doing well, but that it was looking good.
Buy low, sell high.
Oh the market looks good if you can afford to buy and sell. Doesn't look so good if you aren't rich, you're retired and your retirement savings are losing thousands every day.
I know he's trying to fight off the panic, but it has already set in and his words aren't inspiring a whole lot of confidence for the average retiree.
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Oh the market looks good if you can afford to buy and sell. Doesn't look so good if you aren't rich, you're retired and your retirement savings are losing thousands every day.
I know he's trying to fight off the panic, but it has already set in and his words aren't inspiring a whole lot of confidence for the average retiree.
If you are losing badly, and I'm no financial advisor, get out and let it drop a little more. It might not, but looking at the politics, what do you really expect? The Dems are going to try to hammer any economic gains back into the ground by the election. One thing Trump has to stand tall on is the economy, but the markets are fickle and blow with the media wind.
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I’m dreading today. From what I am seeing this morning, the FTSE is currently down and the Hang Seng closed down 2.42%, and the Nikkei closed down 3.61%. At least people aren’t jumping out of buildings like they did in October 1929. Yet. I think we did learn from that.
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Down 614 points and it's only 9.44am...
45 minutes later:
Down almost 1,000 and the market's been open only an hour or so...
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947.88 as of 10:30 am Eastern
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Can't they close the markets until everyone calms down..they closed them after 9-11 maybe they should do it now....and I thought there was a mechanism to automatically close when it drops like this?
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Can't they close the markets until everyone calms down..they closed them after 9-11 maybe they should do it now....and I thought there was a mechanism to automatically close when it drops like this?
Trades have been halted for companies that saw either huge losses or gains. it takes a 9/11 to shut the whole market down.
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I am SO thankful our retirement money is out of the market temporarily!
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Oh the market looks good if you can afford to buy and sell. Doesn't look so good if you aren't rich, you're retired and your retirement savings are losing thousands every day.
I know he's trying to fight off the panic, but it has already set in and his words aren't inspiring a whole lot of confidence for the average retiree.
the fallacy is that investments are NOT the same as savings.
Investments are invariably at-risk, hence the higher return compared to savings accounts.
Never place any money in the stock market you cannot afford to totally lose.
Stick to savings or at most, bonds.
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I am SO thankful our retirement money is out of the market temporarily!
Same here!
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The market is going to sell off as long as those invested sell. The gains are nearly erased and there is nothing positive to stop the sell off. Two things always drive the market; fear and greed. Right now we have fear.
Because this has affected the 2nd largest economy in the world, it's bound to affect the U.S., possibly and looking more like we are heading into a global recession -- that is unknown territory. In the long run perhaps we may see that U.S. economy as one of the only viable economies left, provided that Trump remains in office. Bernie gets in and there won't be any recovery, we'll be another Venezuela ... exactly what Soros and the rest of the globalists want ... that's suits some in this forum just fine, but they'll regret their wish.
With the corruption and the underhandedness from the left, IMHO, Trump's re-election was NEVER certain. Never.
What 'gains' are you describing that are 'nearly erased'?
I have been in the market 30+ years and seen a tenfold increase in investments, including dividends.
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the fallacy is that investments are NOT the same as savings.
Investments are invariably at-risk, hence the higher return compared to savings accounts.
Never place any money in the stock market you cannot afford to totally lose.
Stick to savings or at most, bonds.
Bonds right now? Did you notice the rates on long bonds today? 30 Year- 1.67%. 10 Year- 1.17%.
To me thats even a bigger shock than this equity correction. For those retirees adding or repositioning their funds, what seemed easy to get as a 2 or 3% CD or Bond has evaporated quickly.
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I wonder if the Left even realizes or cares for that matter that while they are using the #CoronavirusOutbreak to crash the stock market, that their actions affect the Thrift Savings Plans (Military 401K's) of everyone in uniform right now. Not great way to get the military vote.
I'm 6 months out from hanging it up and this isn't doing anything good for my Roth IRA...granted it's not some 6-7 figure monstrosity...but still.
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musiclady wrote:
"I am SO thankful our retirement money is out of the market temporarily!"
And I Sailed wrote:
"the fallacy is that investments are NOT the same as savings.
Investments are invariably at-risk, hence the higher return compared to savings accounts.
Never place any money in the stock market you cannot afford to totally lose.
Stick to savings or at most, bonds."
OK, folks, I'm gonna play the devil's advocate here.
Remember all that talk from "the right" about "privatizing" Social Security?
And creating "individual accounts" in the stock market, or someplace?
Well, how good does such an idea look right now?
It would be just too easy to see too many folks' "futures" go up in smoke, or get "consumed by a virus" -- such as is goin' on right now.
Because -- just as I Sailed has told us -- "investments" are NOT "the same as savings". And should not be treated as such.
This is why Social Security is here to stay, and also why any attempts by the Pubbies to "fix it" may result in their being voted out, just as happened after G.W. raised the subject back after the 2004 elections...
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Bonds right now? Did you notice the rates on long bonds today? 30 Year- 1.67%. 10 Year- 1.17%.
To me thats even a bigger shock than this equity correction. For those retirees adding or repositioning their funds, what seemed easy to get as a 2 or 3% CD or Bond has evaporated quickly.
In the long game, bonds are fine.
What one should concentrate on in savings is preservation of capital
I am retired, and I need to treat a bucket of funds that way, with another bucket as investment, ie at risk.
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I am SO thankful our retirement money is out of the market temporarily!
Been out of stocks since Obama was elected and never regretted it.
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Been out of stocks since Obama was elected and never regretted it.
I put a lot into Large Equity Growth stocks when he got elected. I figured the bigs are better situated than the smalls, to survive the massive new regulations we all knew were coming. It paid very well. I got out of all that last year, when I retired. It's stupid to keep your money in growth funds when your investment target horizon is staring you in the face.
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I put a lot into Large Equity Growth stocks when he got elected. I figured the bigs are better situated than the smalls, to survive the massive new regulations we all knew were coming. It paid very well. I got out of all that last year, when I retired. It's stupid to keep your money in growth funds when your investment target horizon is staring you in the face.
A good strategy.
Know your goals and execute without getting greedy.
I keep some at risk as over the long haul, is better return.
But will not miss any of that should things go to pot, like electing Bernie
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In the long game, bonds are fine.
What one should concentrate on in savings is preservation of capital
I am retired, and I need to treat a bucket of funds that way, with another bucket as investment, ie at risk.
Same here, except my wife likes to play the "5 yr game" with CD's and their renewals on part of our portfolio. She timed this one pretty well, but a couple a cycles ago, (around the '09 crash) she had a boat load that renewed low based on that timing.
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I’m trying to stay optimistic d
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Saw a Barrons snipit a few minutes ago that the Chicoms made a huge oil order on a sub $45/ bbl transaction.
Hmmmm....
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I’m trying to stay optimistic d
Yes, trying to stay optimistic as well. We've been invested for over 25 years -- every time we've sold, the market has perked back up. So I've learned to stay put. This feels different. The market isn't just losing hundreds of pts. but thousands and not just for a day or two but for a week.
Talked to our advisor again -- trimmed a little more of our stocks to preserve some gains -- some of our funds have some bonds in them, so hanging on to those right now. U.S.economy is still solid for now.
Concern is that there is no positive new on the horizon and gold is going down as well.
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Yes, trying to stay optimistic as well. We've been invested for over 25 years -- every time we've sold, the market has perked back up. So I've learned to stay put. This feels different. The market isn't just losing hundreds of pts. but thousands and not just for a day or two but for a week.
I have been at this , on an obsession level basis for 40 years. I track, research, and parse, compare these things to death.
Maybe the best advise I ever got was "Jump in when everyone else is on a stampede to the exits". This served me fantastically in '87, '01, and '09.
No one is sure of the bottom. Since I am retired, my exuberance is a little subuded, in deference toward more fixed income vehicles. I will go on record though, that the rally after the '09 crash is probably, (repeat probably with disclaimer) that the worst floor we will see on this crash (additonal 50%.). In any case, I am already bargain hunting. Addtions to my energy sector portfolio is peakiing my interest. Some big names there, are already under their '09 crash levels, and yielding 3-6% divys.
And again, folks.... like others have said.... Don't invest with money you need to live on.
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I have been at this , on an obsession level basis for 40 years. I track, research, and parse, compare these things to death.
Maybe the best advise I ever got was "Jump in when everyone else is on a stampede to the exits". This served me fantastically in '87, '01, and '09.
No one is sure of the bottom. Since I am retired, my exuberance is a little subuded, in deference toward more fixed income vehicles. I will go on record though, that the rally after the '09 crash is probably, (repeat probably with disclaimer) that the worst floor we will see on this crash (additonal 50%.). In any case, I am already bargain hunting. Addtions to my energy sector portfolio is peakiing my interest. Some big names there, are already under their '09 crash levels, and yielding 3-6% divys.
And again, folks.... like others have said.... Don't invest with money you need to live on.
A very solid strategy IMHO @catfish1957
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Posted on
June 21, 2018 by Zach
Here’s How Long the Stock Market has Historically Taken to Recover from Drops
https://fourpillarfreedom.com/heres-how-long-the-stock-market-has-historically-taken-to-recover-from-drops/
It is worth your time to research the history.
Ask yourself, if you even need the funds soon? If not, when will you need them?
What other funds could be tapped, besides volatile stock market invested funds?
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Though the market was down big from yesterday, most of that was on the overnight.
It held it's own today, and there was some decent buying at the very end, but overall pretty weak.
I don't see this as a reversal by any means, yet.
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Decent "recovery", stocks closed down "only" 357 or so... ;)
Oil down to $45 !
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Decent "recovery", stocks closed down "only" 357 or so... ;)
Oil down to $45 !
Both will rebound. It'd be interesting to see who bought what contracts and futures and made a killing. (Are the Chinese manipulating markets with the panic? Is Soros?)
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Stock market- both Dow and NASDAQ are up today