Dow futures plunge 1000+ points after Dipshit's teleprompter

[Laura PourMeADrink]

https://www.cnbc.com/2020/03/11/futures-are-steady-wednesday-night-after-dow-closes-in-bear-market-traders-await-trump.html

Dow futures plunge more than 1,100 points as Trump speech disappoints investors
PUBLISHED WED, MAR 11 20206:06 PM EDTUPDATED 26 MIN AGO

Futures contracts tied to the major U.S. stock indexes fell on Wednesday night after an address from President Donald Trump failed to quell concerns over the possible economic slowdown from the coronavirus.

The move comes after the Dow Jones Industrial Average ended its historic 11-year bull market run by closing in a bear market.

As of 11:37 p.m. ET Wednesday, Dow futures were down 1,135 points, implying a loss of 1,095.22 points at Thursday’s open. S&P 500 and Nasdaq 100 futures were also sharply lower.

[Hassler]

1. The Pandumbic Trump Slump is looking at being the Trump Depression.

[Buckeye_Democrat]

2. This Trump virus is getting scary. nt

[flibbitygiblets]

3. It's because he didn't wear his lucky red hat

or bad-mouth any political rivals.

You know that's what his takeaway will be.

[Laura PourMeADrink]

6. Ha. He did have that hypnotic teleprompter voice. Which

Is a dog whistle to his people. (I'm just reading this because they told me to, wink wink).

[MLAA]

4. I've been in a trump depression for nearly four years

The markets are just catching up with me!

[herding cats]

5. Bear Market? Check.

Recession seems likely now. I'm in Texas and oil prices will impact our local economy on top of the COVID-19 global recession.

My plans for an early retirement just dissolved.

[Laura PourMeADrink]

7. Was just reading up on safe Havens. Gold, yen Swiss franc,

Treasuries.

[herding cats]

9. I divested some time ago.

I needed returns, which won't be happening now, to retire.

A global recession with the added local impact means I'm screwed due to my industry.

I spoke to my broker today. We've mitigated bleeding, but all my long worked plans seem to be upended.

[HarlanPepper]

8. When do the ATM riots start?

[BigmanPigman]

11. Keep cash at home for emergencies.

I plan for when there is the BIG earthquake and power is out for days gas and cash will be hard to come by.

[uponit7771]

13. +1, and some gold

[BigmanPigman]

14. Done already.

My dad advised me well. I miss him.

[gratuitous]

10. Sounds like the big money boiz were as reassured as I was by the address

[uponit7771]

12. ***THE ARTICLE IS NOT AN EXAGGERATION*** DOW Futures were at 150 before Red Don opened his mouth

[Awsi Dooger]

16. Correct...I checked before speech and it was -.77%

Now something like -3.81%

It was funny that an article accompanying the early -.77% said "futures are mostly flat."

That's how skewed everything is right now. Normally a futures drop of that much would earn some attention toward the reasoning. Now it's dismissed as mostly flat.

[wishstar]

23. During Bush debacle I used to say "When Bush talks, stocks crash"

and here we are again with another incompetent boob in WH mismanaging a crisis. Under Bush it took several months for market to reach the lowest point but we may reach the low point much sooner under Trump.

[rpannier]

15. Trump's best words didn't help the situation

[ck4829]

25. They really didn't

[rpannier]

28. I'm Stunned! Flabbergasted! The man who impressed all those scientists?

Amazing!

I may still need this:

[Cryptoad]

17. Hard times acoming ,,,,,,

Good Luck!

[greenjar_01]

19. Fo sho

G'luck.

[greenjar_01]

18. The bloom is off the rosebud

[DENVERPOPS]

20. All the Pro Trump/Republican Party corporate assholes

Are suddenly getting some payback for all their fascist wishing and saying: OH SHIT, WASF. The fun is, that they haven't begun to see the half of it and will soon get it up their collective rectums, just as they all have been doing to us for years and years.

Yeaaaa Haaaaaa Mother Fuckers........

I bet we will see a sudden epidemic of Corporate Executives trying to cash out, resign and try to find a safe spot to live in some other country.......They will find out that thanks to their Hero and their Republican Party they all loved, there is NO foreign country that is safe for them to run to.........

[LudwigPastorius]

21. Yeah, the party's over Wall Street boys. You got your tax cut and stock buybacks by putting an...

ignorant narcissist in charge. Only problem is, he's overstayed his welcome - assaulted all the women guests, broken the crystal glassware, stuffed the silverware down his pockets, and shit in the punchbowl.

Now you want him to be responsible and clean up the mess?

BWAAHahahah!

[SWBTATTReg]

29. And the most ironic thing about this whole mess is that these stock buybacks were done at much...

higher prices, so these companies who ran to buy back their stocks (instead of investing the extra tax savings back into the business) took a god awful beating.

In essence, they wasted every dime of their so called tax savings by buying stock at too high of a price and prop'ing the stock price up artificially. Perhaps that's why the markets are in free fall (besides rump too of course). Be alert for those companies that instead of plowing the tax savings back into buying back their shares but instead the business or hoarding the cash (such as Warren Buffet, w/ over $150 Billion in cash).

rump killed the stock market. Single handily did it all by himself. Remember this. Could have been in front of this thing but because the republicans are so stingy, they didn't want to pay for everyone's testing, they didn't want to lose any revenues for their precious businesses, etc., and instead they lost it all.

[MoonlitKnight]

22. treasuries volatility causing problems as well

[link:https://www.bloomberg.com/news/articles/2020-03-11/-50-trillion-in-question-after-u-s-treasury-liquidity-dries-up|

$50 Trillion in Question as U.S. Treasury Liquidity Dries Up

“Treasuries are the risk-free benchmark that anchors the over-$50 trillion in global dollar-denominated fixed-income securities,” said Joshua Younger, head of U.S. interest rate derivatives strategy at JPMorgan Chase & Co.

“The level of volatility and lack of clarity in Treasuries makes it much harder to make sense of the value of all other assets,” added Younger, who has an astrophysics Ph.D. from Harvard University. “It can create a self-perpetuating flow of expectations that is not really reflective of financial markets and the true level of risk aversion.”

[ck4829]

24. Kick

[wishstar]

26. As of 5:20 am, down 5.2% -1229 to 22,346 level

[captain queeg]

27. The best thing he could do would be to shut up

Every time he opens his mouth it gets worse. Actually the best thing he could do would be to resign.