Update….
The US Stock Market closed down MORE THAN 1,000 points…
Are world economies in for a fallback off of a closed down China and virus epidemic ?
U.S. stocks fell sharply in early trading Monday, following a broad sell-off in overseas markets, as a surge in virus cases and a worrisome spread of the disease outside the epicenter in China sent investors running for safety.
The Dow Jones Industrial Average slumped 840 points, or 2.9%, to 28,146 and gave up all of its gains for the year. The S&P 500 index skidded 2.7% and gave up most of its gains for 2020. The Nasdaq fell 3.2%.
More than 79,000 people worldwide have been infected by the new coronavirus. China, where the virus originated, still has the majority of cases and deaths. But, the rapid spread to other countries is raising anxiety about the threat the outbreak poses to the global economy.
South Korea is now on its highest alert for infectious diseases after cases there spiked. Italy reported a sharp rise in cases and a dozen towns in the northern part of that country are under quarantine. The nation now has the biggest outbreak in Europe, prompting officials to cancel Venice’s famed Carnival, along with soccer matches and other public gatherings.
Germany’s DAX slid 4% and Italy’s benchmark index dropped 5.6%. South Korea’s Kospi shed 3.8% and markets in Asia fell broadly.
Investors looking for safe harbors bid up prices for U.S. government bonds and gold. The yield on the 10-year Treasury note fell sharply, to 1.38% from 1.47% late Friday. Gold prices jumped 1.8%.
“Stock markets around the world are beginning to price in what bond markets have been telling us for weeks – that global growth is likely to be impacted in a meaningful way due to fears of the coronavirus,” said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance…..
stock market takes a beat down….
WE ARE ONE world even if some leaders do NOT think so….
Market down ANOTHER 600 points right now…
People gonna start losing their houses if this continues….
let’s not get carried away here..
Somewhere from heaven, Jack Kemp is giving a speech about returning to the Gold Standard..
A busted economy does Trump no good….
Broke rich people does Bernie and Warren no good…
It wouldn’t do anyone any good. Nothing to root for.
I doubt short-term market concerns about Coronavirus are a sign we are headed to a Great Depression.
Too early to say that the coronavirus will push the economy into recession.
But if it does, that makes Trump the underdog no matter who the Democrats nominate.
If Coronavirus becomes a major fear in the U.S., what will happen is that Trump and his allies will push for “sealing the border” and claim that Democrats want completely unfettered immigration which will put people’s health at risk.
“Trump and his allies”–just call them REPUBLICANS
And Trumpocrats like Blago
A party of one
Who wants to live in a Trumpocracy?
Turmpocrats like ex-Gov. & excon Blagojevich.
If we reach that point the damage to the US economy will already have been done.
And Trump and the GOP will pay the price.
He might do so.
However, the tendency among Americans is to blame whoever is in office for bad things when they happen and Trump, who by all political logic should be a cinch for reelection but still trails most potential opponents, will be particularly vulnerable to something such as a pandemic.
It would indeed be ironic of something like this cost him the election .He’s done so many things ,purposefully, that make him unfit to hold office.Imagine being booted out over something he really had nothing to do with.?
I’d laugh my ass off. Especially if it takes down the spineless complicit Republicans in the Senate too.
Clearly, Mexico would have to pay for the Corona vaccine.
Trump flunkie Larry Kudlow says the coronavirus has been “contained,” a patently ridiculous statement, as no one could possibly know that.
Mitt Romney says the Trump Adminstration is not prepared to deal with the possible pandemic.
Expect some pretty ridiculous Tweets with two days of Dow Jones drops of 800-1000 per day getting all the press instead of Trump’s India visit.
Limbaugh might as well be working in the White House now.
Sigh
Him, Tucker Carlson (absent his bow tie when he used to play William F Buckley ) Sean Hannity….
Makes one feel good to know who’s running the government!
And how could I forget that raging lunatic Lou Dobbs(who when on CNN years ago used to be introduced as Mr. Independent)
of course the opposite is good things politicians take credit….
This summer’s Tokyo Olympics would have to be cancelled before America becomes really freaked out over this.
Let’s hope there is not any sort of breakout of the virus in the U.S. but it does seem like we would have the capability to treat it in people.
You seem to have more confidence in the Trump administratiin to handle this than Mitt Romney does.
Romney knows more about it than I do. I think there are a lot of smart people in the U.S. who are actually doctors though. I think the fears over Ebola seemed more imminent a few years ago and that passed too.
Never thought about sealing the border…
THAT WOULD drop the country into turmoil and a sure economic crisis….
Something i believe WOULD be beyond Trump…
Ur are talking/ suggesting about something completely FUCKED UP….
I do not expect the virus to be a major issue in the campaign. People will probably lose interest in a month or so.
But if it were, Trump would blame the spread on “unchecked immigration” and point to how Democrats want “open borders.”
And let’s be clear. If Sanders is the nominee, the party will be standing for “open borders.”
Joe Walsh says that not only will he support Bernie Sanders ,he will campaign for him.
yeah, I’m sure that’s just what Bernie would want.
No one knows how much impact the virus will have. It could be forgotten or if it spreads and panic ensues lots of travel and gatherings could be cancelled–hampering the economy. Whatever racist stuff Trump might try to play will resonate with his GOP base, but economic slowdowns are blamed om the President and the President’s party. You know this of course but your white hot hatred of Bernie Sanders clouds your judgment
I don’t want people to get sick first and foremost. Some things are more important than politics.
Trump largely gets too much credit for the stock market having done very well recently.
He has no blame for the Coronavirus at all. Nothing in his policies or nothing he stupidly said or Tweeted caused it. I think it is pretty silly to think the American people would associate himself with it. Sounds more like wishful thinking. I do think he knows how to dangerously use fear and populism to his advantage if it came to that so Democrats should probably not want this to be the wedge issue of 2020.
Obviously, his Administration needs to be doing everything possible to prepare for all possibilities regarding a potential health crisis.
My hunch is the stock market will probably rebound next week and this will cease being a story.
Well that’s just silly. I finish for people to get sick and die either. But who knows what the he’ll will happen. None of us does. So whatever one “wishes” for is irrelevant.
As long as you have clarified you don’t want anyone to get sick or die, even Republicans….
The Bushies [Mark II} thanked their lucky stars and a merciful heaven that Hurricane Katrina struck in 2005 and not 2004.
How soon before Trump says “you’re doin’ a heckuva job there Larry”?
Well that’s just silly. I don’t wish for people to get sick and die either. But who knows what the hell will happen. None of us does. So whatever one “wishes” for is irrelevant.
I’ll worry about marijuana addled drivers and the damage they might cause to people’s lives and you can worry about the Coronavirus. Someone else will handle the Zombie Apocalypse.
Oh Jesus
Not this kick again.
Reefer Madness Redux!
I’m just glad you are willing to admit that something scares you and that the unknown can be frightening. You looked down on that not long ago.
Bigger short-term concern for me is that MLB Opening Day is in less than a month and my cable provider has yet to make a deal with the Cubs’ new cable-tv network, which has exclusive rights to all games.
I really don’t know what the hell you are talking about.
But considering the Dow Jones is down 1900 points in 2 days over Coronavirus fears. And legalization of the dreaded devil’s lettuce produced no such reaction at all which “fear” is more rational?
Devil’s lettuce? Is that a threesome thing?
Ha ha! Marijuana.
Market closed off 800- points today…
That IS 1,800 points in TWO DAYS!
One could wonder how far is the drop
gonna go?
And the market still is a good deal higher than it was a few years ago.
but by all means, if you have stock, sell now! Send a message.
Go to the e-gambling websites and put it all on Biden having the delegate lead after Super Tuesday,.. you will be rich!!!
No stock….
I try to go with ‘sure’ things?
Well, nearly half the U.S. population is willing to bet you that Russia has had, has, and will have nothing to with U.S. presidential elections or elections systems.
Looks like easy money to me…
Market up almost 400 points right now….
james, run down to Wall Street and start coughing loudly. Maybe you can drive the market down again!
I don’t want to hurt the market and people’s pension money….
Bloomberg IS correct….
Fucking the banks hurts us all even if some of them are crooks in suits and ties…
It’s down 50 for the day now.
CG gets very testy when we simply mention that the Coronavirus (or Caronavirus as Trump tweeted this AM) could cause a recession.
He thinks we are somehow “hoping” for it by simply mentioning what could happen.
Not testy. I just think its a very unlikely concept. It feels like people grasping at straws because they know how badly this primary season seems to be going for Democrats.
and I have my mother worried that they are losing “thousands of dollars” over this because they have retirement investments in the market.
At least one candidate knows how to make the most out of an opportunity, however brief, while the frontrunner is running around celebrating the reign of Fidel Castro.
https://www.cnbc.com/2020/02/26/bloomberg-slams-trump-coronavirus-response-in-ad-highlighting-911-aftermath.html
911 happened on the end of Rudy’s watch…
But I concerned about Trump being able to handle a possible national emergency…
so far he seems to not be good at anything that doesn’t pertain to himself…
We have no idea if the Coronavirus is going to be “brief”
my point exactly CG….
We , unlike the Big Guy , care about ALL our fellow Americans
even the Billionaires?
Maybe “jack” is spending his day seeking out the candidates on the streets of Charleston.
Dow Jones Industrial Average Index
Index: DJI · February 26, 4:20 PM EST
26,957.59
▼ 123.77 (0.46%)
▼ 2,049.17 (7.06%) since closing Friday
[From Binging “Dow Jones today”]
Dow Jones Industrial Average Index
Friday, February 21, 2020 3:45 pm EST
29,006.76
Dow Jones Industrial Average Index
Index: DJI · February 27, 9:45 AM EST
26,419.83
▼ 537.76 (1.99%) today
Dow Jones Industrial Average Index
Index: DJI · February 27, 9:45 AM EST
26,419.83
▼ 2,586.93 (8.91%) since 3:45 p.m. EST Friday 21 February
Toady…April 21, 2020….
Market drop 800 points on the oil glut