Hey Wall Street................do you think reality is going to set in finally..........

[turbinetree]

the country is fucked ...............the wack a mole virus program is now in effect, the libertarian model and the stupid "cubic model" don't work...................

Dow ends 710 points lower, stocks book worst day in about two weeks, amid quarantines and rising coronavirus cases

Published: June 24, 2020 at 4:35 p.m. ET
By Joy Wiltermuth and Sunny Oh

NY, NJ and CT impose quarantines on travelers from COVID-19 hot-spot states

?uuid=ad417090-9bd8-11ea-8340-9c8e992d421e

U.S. stocks finished sharply lower Wednesday, booking their worst drop in about two weeks, as investors worried that rising coronavirus cases in many American states will set back economic recovery.

All 11 sectors in the S&P 500 index were lower after Florida and California booked daily records for new cases, while intensive-care unit beds in Houston, Texas were reported at 97% capacity.

How did benchmarks perform?
The Dow Jones Industrial Average DJIA, -2.71% shed 710.16 points, or 2.7%, ending at 25,445.94. The S&P 500 SPX, -2.58% fell 80.93 points, or 2.6%, to end at 3,0501.33. The Nasdaq Composite COMP, -2.19% gave up 222.20 points, or 2.2%, finishing at 9,909.17, a day after booking a fresh record closing high.

It was the worst daily point and percentage drop for all three stock benchmarks since June 11, according to Dow Jones Market Data.

On Tuesday, the Dow Jones Industrial Average rose 131.14 points, or 0.5%, to close at 26,156.10, The S&P 500 index gained 13.43 points, or 0.4%, finishing at 3,131.29. The Nasdaq Composite Index rose 74.89 points, or 0.7%, to end at a new 10,131.37 record.

https://www.marketwatch.com/story/dow-futures-slump-220-points-as-resurgence-of-coronavirus-cases-and-trade-tensions-take-focus-2020-06-24?mod=mw_quote_news

[Faux pas]

1. They've

got their's so what do they care?

[PSPS]

2. IMF has now modified its forecast of contraction in the US economy - worse than their earlier one

It has been worsened, now forecasting a contraction of 8%. For comparison, the 2009 recession caused a contraction of under 1%. Furthermore, they expect "double-digit unemployment" to continue at least through 2021.

[uponit7771]

3. K&R, it's worse !!! They are mostly booking gains this year based off vaccine in 2020

You would think you were in a different planet where a vaccine was promised by the end of the year that will work and wouldn't kill a bunch of people

but people on WS are you still listening to Captain Clorox and do not understand that this is going to be a multi-year issue and our with all the promise of double talkin scientists and doctors thinking a vaccine is coming this year

[WyattKansas]

4. Wall Street is waiting for Biden to be elected, then they can complete...

The Republican Pump & Dump Stock Market and blame the crash on Biden and all Democrats.
Why?
So they can set up their next Republican Pump & Dump after they convince voters to blame the Democrats in following elections. It isn't hard to see how all this bullshit plays out over and over.

No?
Look at how President Obama was blamed for Bush's crash and the following stagnate economy and market, because safe reasonable gains were not enough.