Dow drops 800 points on mounting concerns over the coronavirus and the global economic recovery

[orangecrush]

U.S. stocks fell sharply on Wednesday amid concerns over the latest increase in coronavirus infections and its potential impact on the global economy.

The Dow Jones Industrial Average dropped 820 points, or 3%. The S&P 500 slid 2.9% and the Nasdaq Composite traded 3% lower.


The U.S. indexes took their cues from the European market benchmarks. The German Dax index fell 4.2% to its lowest level since late May. The French CAC 40 slid 3.4%. The FTSE 100 in London closed 2.6% lower.

"Investors' hopes that the Covid pandemic would not force further stringent mitigations measures and/or potential wholesale lockdowns that would push global economies back into 'low-consumption mode' appear to be coming under challenge," said Yousef Abbasi, global market strategist at StoneX. "Avoiding these stringent measures has been a major tenant of the bullish thesis, particularly for those looking to value stocks and for a steeper yield-curve."

20201028 dow daily moves october
U.S. coronavirus cases have risen by a record daily average of 71,832 over the past week, data compiled by Johns Hopkins University showed. Meanwhile, coronavirus-related hospitalizations are up 5% or more in three dozen states, according to data from the Covid Tracking Project. Cases are also rising sharply across Europe.

.....
"I think there's going to be a call for lockdowns the likes of which we've seen in Chicago," CNBC's Jim Cramer said Wednesday. "The lockdowns without the stimulus equals what we're seeing."


https://www.google.com/amp/s/www.cnbc.com/amp/2020/10/27/stock-market-futures-open-to-close-news.html


MAGA!

[Sherman A1]

1. So much winning

just so much winning................

[spooky3]

2. This may be just the bad "economic news" that pushes a few undecideds

from Trump to Biden, or to stay home.

[orangecrush]

6. Hope so!

[ProfessorGAC]

3. S&P Is Up 0.75% YTD!

The 8 Obama years, the S&P averaged +11% (roughly) per year.
The DJIA is down 8.8% YTD. That went up around 13% per year under Obama.
PINO said "so much winning.". He must have meant "so much whining"!

[orangecrush]

8. I'll bet

There is "buyers remorse" with some donors.

[ProfessorGAC]

12. There Should Be!

Except among those who wrongly think those regulatory rollbacks are a profit driver.
The investment in pollution control is a sunk cost, and the incremental operating costs are tiny.
Those rollbacks will mean very little profit enhancement to the large majority of companies, except for those that were breaking the law anyway.
Ethical investors and executives should have that buyers' remorse.

[orangecrush]

14. Thanks, Professor!

[Marthe48]

4. During Covid, be nice if the bazillionaires gave up some $$$

To ensure a human presence on Earth. Instead of chasing the almighty dollar, give the human race a chance to recover from this dire blow. The economy will mend. Families, friends, relationships might not.

I appreciate the handful of businessmen and companies that are farsighted enough to help where its needed, instead of putting human lives in harm's way to make a buck.

[orangecrush]

7. Agree 100%

[Wellstone ruled]

5. Fact is,

Germany,whom is the Economic Engine of Eourpe,is locking down. And this is effecting all the Stock Markets world wide. So goes Germany,so goes Eourpe.

Used to be,if the USA got the sniffles,Eourpe got the Flu,not anymore,Trump has moved our Nation to the classification as a Emerging Market.

[orangecrush]

9. Interesting

Thanks for sharing that info!

[malaise]

10. Closes at −943.24

So much winning!

[orangecrush]

11. It's raining billionaires!

[Wednesdays]

13. The Dow was the last straw tRump could grasp

Now even that is slipping away.