The Markets Are Battered
The markets got hit with a one-two punch. It starts with coronoavirus and ends up with the Russia-Saudi Arabia dispute causing the oil markets to plummet.
In the United States, trading was paused for 15 minutes due to a 7% drop from the start. After that, the market rallied only to give up the ghost, as they say.
At present, the Dow is down over 1,800 while the S&P is off 211.
The S&P is off 18% from high of 3,373. This means we are getting really close entering a bear market. A 20% decline is considered bear market territory.
While the events of late could be considered short-term, the impact is going to extent forward. With supply chain issues, we could see companies without product to sell. This will certainly affect numbers in the next quarter or two.
Another issues is the hysteria over the virus. According to many, we are not even close to the peak impact. The markets are likely going to see another month of uncertainty as the number of people with the virus grows.
This is what Kyle Bass, chief investment officer of Hayman Capital Management had say.
‘If you’re asking for when the financial markets see peak virus, I think it’ll be about a month from now.’
There was a time when 1,000 point days on the Dow was newsworthy. Over the last week, it is the norm. We are seeing major volatility with the VIX hitting 60 earlier this morning. This means we can likely expect a lot of big moves in both directions.
It was an interesting start to the week. Hang on it is going to be a bumpy ride.
If you found this article informative, please give an upvote and resteem.
Posted via Steemleo
I can't say I ever saw a 2000 point plunge, lets see what Trump has up his sleeve in terms of fiscal stimulus this week.
Posted via Steemleo
He is going to pull out all stops.
His entire reelection is based upon the market being up...he needs to somehow push it near all time highs by November.
Posted via Steemleo
Congratulations @taskmaster4450le! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPTo support your work, I also upvoted your post!
Do not miss the last post from @steemitboard:
Vote for @Steemitboard as a witness to get one more award and increased upvotes!
if the financial markets in the USA continues to go down then donald trump might be scared that it could negatively affect his re-election bid,making the US financial markets to get stable is one of the things which he majorly promised US citizens when he was campaigning for his election....@taskmaster4450le
Posted via Steemleo
if the virus keeps growing then the stock markets will keep getting more battered and that is a bad thing to experience,that is why everything possible must be done to stop this virus...
Posted via Steemleo
the global market is getting battered right now,i think it is time for many investors to show good interest in cryptocurrencies because that could become safe haven asset for them...
Posted via Steemleo
According to the Bible, Graven Images: Should You Worship These According to the Bible?
Watch the Video below to know the Answer...
(Sorry for sending this comment. We are not looking for our self profit, our intentions is to preach the words of God in any means possible.)
Comment what you understand of our Youtube Video to receive our full votes. We have 30,000 #SteemPower. It's our little way to Thank you, our beloved friend.
Check our Discord Chat
Join our Official Community: https://steemit.com/created/hive-182074
My name is Jesus Christ and I do not condone this spamming in my name. Your spam is really fucking annoying @hiroyamagishi aka @overall-servant aka @olaf123 and your spam-bot army. This is not what my father, God, created the universe for. You must stop spamming immediately or I will make sure that you go to hell.
If anybody wants to support my eternal battling of these relentless religion spammers, please consider upvoting this comment or delegating to @the-real-jesus