General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsDow futures plunge 1000+ points after Dipshit's teleprompter
https://www.cnbc.com/2020/03/11/futures-are-steady-wednesday-night-after-dow-closes-in-bear-market-traders-await-trump.htmlDow 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 Thursdays open. S&P 500 and Nasdaq 100 futures were also sharply lower.
Hassler
(3,369 posts)Buckeye_Democrat
(14,852 posts)flibbitygiblets
(7,220 posts)or bad-mouth any political rivals.
You know that's what his takeaway will be.
Laura PourMeADrink
(42,770 posts)Is a dog whistle to his people. (I'm just reading this because they told me to, wink wink).
MLAA
(17,238 posts)The markets are just catching up with me!
herding cats
(19,558 posts)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
(42,770 posts)Treasuries.
herding cats
(19,558 posts)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
(2,042 posts)BigmanPigman
(51,560 posts)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
(90,301 posts)BigmanPigman
(51,560 posts)My dad advised me well. I miss him.
gratuitous
(82,849 posts)uponit7771
(90,301 posts)Awsi Dooger
(14,565 posts)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
(5,267 posts)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
(24,326 posts)ck4829
(35,037 posts)rpannier
(24,326 posts)Amazing!
I may still need this:
Cryptoad
(8,254 posts)Good Luck!
greenjar_01
(6,477 posts)G'luck.
greenjar_01
(6,477 posts)DENVERPOPS
(8,787 posts)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
(9,092 posts)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
(22,059 posts)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
(1,584 posts)[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
(35,037 posts)wishstar
(5,267 posts)captain queeg
(10,082 posts)Every time he opens his mouth it gets worse. Actually the best thing he could do would be to resign.