Stock market live updates: Dow drops more than 600, oil slides, central banks step in

[riversedge]

Source: cnbc




Published Wed, Mar 11 20207:34 AM EDT Updated Moments Ago

GP: NYSE Trader yelling 200127




This is a live blog. Check back for updates.
9:31 am: Dow drops more than 700 points, S&P 500 falls 2.7%

The major averages opened sharply lower as traders continue to fear the ongoing economic impacts from the spread of the coronavirus. The Dow plummeted 748 points for a 2.8% drop. The S&P 500 fell 2.7%, while the Nasdaq was down 2.5%. - Stevens
9:11 am: Goldman Sachs says bull market to end “soon,” sees another 15% fall in market

Goldman Sachs’s top U.S. stock strategist warned clients on Wednesday that the longest bull market in American history will end “soon” and that the market could see another 15% drop from here. David Kostin slashed his mid-year S&P 500 forecast to 2,450, meaning the investment bank now sees the market falling another 15% beyond Tuesday’s close to levels not seen since December.......................

Read more: https://www.cnbc.com/2020/03/11/stock-market-today-live.html

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up down up down.

[ProudMNDemocrat]

1. Base your presidency on the Dow, DIE by the Dow...

Trump is going to have another bad day.

All the while investors are in a panic. 409Ks are losing value.

Go golfing Trump. That is the least harm you can do as more people come down with the virus.

[yaesu]

2. what happened to the tRump Bump? nt

[bucolic_frolic]

3. It's a long way down

I've read many investment books in my life, prob more than 75. Nothing so fascinating as candlestick charts. To me anyway.

Somewhere very long ago I read - indicators and charts work great except at the top and the bottom. There are Bullish Gurus on Youtube, every week is another reason to say the market's going higher. One of them never changed tune, won't say which. Now he says they hit a speed bump. There are also permaBears. They're safe, but did we make any money?

Charts tell me we're in for a slide because the indexes will decline, over time, to the next level of support, and then the next, and the next. Some have said, with this economic collapse, and the expected "reset" of the dollar, which I really don't understand, and crypto, that the market could revisit the 2009 lows.

Last time I looked at a long term chart, and they are hard to find because Wall Street never wants you to know the truth of their hype game, I thought about 9680 DJIA was a solid support level. I can't see deflation going to 5400. But that's me.