Personally, I've lost my ass!

I do think it’ll go up again by the end of the year. I could be wrong of course.

Bad day to check the 401k!

My daughter looked (for the first time) at her 401K. (Her employer went bankrupt, so she's now interested in making sure she has everything she is supposed to have). She was thrilled that she has $10,000. Unfortunately, I didn't warn her not to look after that - so when she had lost $700 within a week, she started freaking out. I was able to talk her down off the ledge by showing her my accounts, over time.

But - yes - especially for relatively new investors (or those of us nearing retirement), it's a bad day to check the market.

For those of us that have been around for a few years, it’s easy to remember that this happens now and then. It always feels like it’s a newly horrible unique situation and the market will never recover. But it does.

Dh’s 401k is taking a bit of a hit. I’m not sure how years of max contributions he’s lost in the past week, but it’s a ton. He isn’t retiring tomorrow so it’s ok (and his investments have shifted over as he’s aged).

Taking the $ out at this point just adds insult to injury!

My daughter is part of a FB group of everyone else who was dumped by EarthFare. There is quite a bit of misinformation floating around in the group, so whatever I pass on to her gets shared with others as well. On person was recommending immediately moving everything to something safer. Moving things to someplace safer is appropriate - at times, based on when you need it. But moving now would mean cementing that loss that's just a funny money loss at the moment.

Then we'll see.

Next circuit breaker is 13%

Then halt for the day if it drops 20%

This stuff was designed to take a breath and calm down during a 1-day panic. This is anything but a 1-day panic.

Why do you say this is anything but a 1 day panic?

That event did not have circuit breakers. The market could have continued to drop. After that 1987 example they put the circuit breakers in place and have tinkered with them from time to time. The market doesn't want one day to carry too much weight, like a sudden terrorist event or unfounded rumor or whatever. Mass panic selling that doesn't stop. The 15 minutes is supposed to be a cooling down period, not completely unlike waiting for a gun application to be approved.

This market decline is based on coronavirus uncertainty combined with an oil situation involving Russia. The oil aspect could change in a hurry if an agreement is reached. But the virus aspect will likely drag the market downward for at least another month or so. That's why I'm saying the 15 minutes means nothing. It is not a cooling off situation. The two problem areas are very real and ongoing.

Looks like we're still headed down after the 15 minute break.

There aren't many days like this but I would expect a leveling off for most of the day then an accelerated selling toward the close

Hopefully some wheelers and dealers behind the scenes move some money around to stop the collapse.

And this is a collapse, total and complete.

We are in a Bear Market. This is going to get ugly, Trump brought us here and owns it 100%.

nt

NYSE will close

Fox business

"DEMOCRATS DESTROYING THE STOCK MARKET TO MAKE ME LOOK BAD!"

This makes him looks so BAD because he has based his entire shtick around the Stock Market.

Couldn't happen to a nicer Con-Man......

A Level 3 halt, where the S&P drops 20%, would close the markets for the day. (Bloomberg Surveillance)

On CNN just now.

"When does the halt lift?"

Shitstain already tweeted to calm the markets this morning:

Link to tweet

They say 10% is a market correction. This might hit that today alone! Although after going over 2000 down it seems to have steadied a bit now.

hopefully at a more sustainable rate than the sugar rush we've experienced since the tax scam passed.

God help us all.

this is either a great buying opportunity, or you'll be sorry the thought ever crossed your mind.

I have no way of knowing.

I think I'll just sit this one out for a while.

Full disclosures: when I was 21 and 22, 401(k)s didn't exist. Also, I looked at my stocks on Friday while downloading some forms. There was a lot of red.

It was a great run, but after 2 big selloffs, I moved everything into bonds, etc.