General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsGlobal stock markets skid as coronavirus infections soar
By STAN CHOE
34 minutes ago
NEW YORK (AP) U.S stocks joined a worldwide downdraft Wednesday as more signs piled up of the economic and physical pain being caused by the coronavirus outbreak.
The S&P 500 dropped close to 3% in morning trading after President Donald Trump warned the country to brace for the roughest two or three weeks weve ever had in our country. The White House is projecting that 100,000 to 240,000 people in the U.S. could die from COVID-19. Long-term Treasury yields sank as investors moved into safer investments.
Japanese stocks took some of the worlds heaviest losses after a survey of business sentiment there fell to its worst result in seven years. The Nikkei 225 dropped 4.5%. Britains FTSE 100 was down 3.7% after big banks there scrapped dividend payments, part of a worldwide effort by companies and households alike to conserve cash. Germanys DAX lost 4%.
Stocks worldwide have tumbled this year as the coronavirus pandemic forces economies into what is expected to be a steep, sudden recession. The S&P 500 just closed out its worst quarter since 2008 with a 20% loss.
https://apnews.com/5bbab4a851be2d59c1bacb619e8a1375
After all he the Hoaxer said this just a while ago...................
ProfessorGAC
(64,996 posts)It was down around 770. In around an hour & a half, back up 320. Still down 450 from yesterday's close.
ProfessorGAC
(64,996 posts)One hour later it was back down 770.
Whatever pushed it up that 320 wasn't sustainable.
at140
(6,110 posts)last election in 2016.
ProfessorGAC
(64,996 posts)Bargain hunters. But, some of them are now in the red.
This probably not the time to bargain hunt.
Too much volatility. When things finally calm down some might be the time to go shopping for investors.
Unless one is expert at shorting, probably unwise to jump in now.
at140
(6,110 posts)Bought first step when the DOW crashed 10% on that day.
Getting ready for 2nd step, if DOW drops another 4-5% from here.
S&P 500
2,490.44
-94.15(-3.64%)
Dow 30
21,175.90
-741.26(-3.38%)
Nasdaq
7,458.41
-241.69(-3.14%)
Russell 2000
1,098.20
-54.90(-4.76%)