Stock trading halted until 9:49 ET after the S&P 500 craters 7%
Source: CNBC
Stocks tumbled on Monday as investors braced for the economic fallout from the spreading coronavirus, while a shocking all-out oil price war added to the anxiety.
The Dow Jones Industrial Average tanked more than 1,800 points at the open, while the S&P 500 plunged 7%. The massive sell-off triggered a key market circuit breaker in morning trading. Trading was halted for 15 minutes until 9:49 a.m. ET.
Read more: https://www.cnbc.com/2020/03/08/dow-futures-drop-700-points-as-all-out-oil-price-war-adds-to-coronavirus-stress.html
Ouch!
durablend
(7,463 posts)whttevrr
(2,345 posts)Now, I would not be surprised to see it go much lower.
durablend
(7,463 posts)Down < 1500 now
Wuddles440
(1,124 posts)in oil prices, not the potential impact of the virus. Bartiromo stated this morning that it's a tremendous buying opportunity and there needs to be more stimulus measures to increase the liquidity. Unfortunately, "liquidity" is not the problem!!!
SunSeeker
(51,646 posts)It is obviously this horror show is just getting started. Wait until the hospitals get inundated and the schools close.
smb
(3,473 posts)IronLionZion
(45,496 posts)when healthcare stocks were down last year, he blamed our lefty Dem presidential candidates wanting socialism to destroy our freedoms through Medicare for all.
Now that travel and oil are leading the downward spiral, maybe he'll blame Biden somehow.
Rainbow Droid
(722 posts)IronLionZion
(45,496 posts)Bengus81
(6,932 posts)That means a BOOM to those companies who provide that service like BCBS,United Health Care,etc,etc.
IronLionZion
(45,496 posts)and there are long lines for rationing. Before you know it, there are tanks rolling through the streets and America turns into Venezuela.
Laelth
(32,017 posts)Later, this AM, on Twitter, the Great Pumpkin will announce that its all a Democrat plot to tank his re-election bid.
-Laelth
Bernardo de La Paz
(49,032 posts)Laelth
(32,017 posts)... the financial markets.
But I hear ya.
-Laelth
turbinetree
(24,710 posts)SunSeeker
(51,646 posts)turbinetree
(24,710 posts)yaesu
(8,020 posts)whttevrr
(2,345 posts)unless some institutional buying kicks in, it could get very ugly.
yaesu
(8,020 posts)That's why we had to wait on tests.
Trump needed to make sure he could make money on them first.
Bengus81
(6,932 posts)Worked....for about a day.
Javaman
(62,532 posts)gab13by13
(21,381 posts)they pretty much all agreed that when the S&P hits 2,855 look out. Well look out and then some.
keithbvadu2
(36,869 posts)Donald takes full credit for the upturns. Donald gets full credit for the downturns.
Bengus81
(6,932 posts)IcyPeas
(21,901 posts)a lot of them anyway. they don't have stocks.
Newest Reality
(12,712 posts)No, their Pavlovian conditioning is about the word jobs. When you say jobs, it is like a doggie treat that makes them salivate, though they don't know why. Words that need to be avoided are: low paying, part time, no benefits, shitty, demeaning, micro-managed Amazon, you need three to survive, easily let go, etc.
Here base! JOBS! Good base! Okay...and...JOBS! "Yayyyy, MAKE GREAT!" Sit! Stay! Good base.
Kaleva
(36,327 posts)Bengus81
(6,932 posts)Before trading started. If Trump was trying to do ANYTHING to help the situation I would have left it in. It was hard to do,I'd had the account with TR Price for years and they do a HELL of a job IMO.
But...when our IDIOT in Chief does nothing but blame the Media and Dems and calls all FACTS fake news this is going to get a lot worse before it gets better. I've lost some pretty good money in the last few weeks that I can't afford to lose.
bdamomma
(63,917 posts)here posted on DU, the WH is summoning Wall Street executives to the WH. tRump probably asking them to lie that the economy is doing well.
Bengus81
(6,932 posts)What's Trump going to do,threaten them??