General Discussion
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Investors are not happy with Trumps proposals to combat Corona Virus, and are displeased with the European flight ban. Yesterday, was a blood bath for my 401K, wonder if it's going to get worse:
Coronavirus Stock Market Correction Is A Bear
The coronavirus stock market correction roared into bear market territory Wednesday, with the major indexes wiping out Tuesday's big gains. The WHO's global pandemic declaration hit stocks, and Goldman Sachs saying the bull market is over didn't help.
The Dow Jones Industrial Average tumbled 5.9%, the S&P 500 index sank 4.9%, and the Nasdaq composite lost 4.7%. The Dow Jones has fallen more than 20% below its February all-time high. The S&P 500 and Nasdaq hit the 20% bear market level intraday Wednesday. If stock futures are any indication, the S&P 500 and Nasdaq are set to open deep in bear market territory.
The Dow Jones today hit a 52-week low intraday. So did the S&P 500 index. The Nasdaq set a five-month low. The one-day stock market rally attempt is finished.
Among the best ETFs, the Innovator IBD 50 ETF (FFTY) dropped 6%. The iShares Expanded Tech-Software Sector ETF (IGV) fell 4.8%. The VanEck Vectors Semiconductor ETF (SMH) sank 5.4%.
sprinkleeninow
(20,246 posts)HOWEVER:-
The end may be near. On the horizon. But following: a rebirth, a new beginning, a new day.
GusBob
(7,286 posts)I sense he is waiting for this moment
Aquaria
(1,076 posts)Maybe not a lot, but it will have a very hard time crawling out of that hole it will start off in when the bell rings this morning.
I have a bad feeling that all of the DJIA gains of the past 3 years will disappear by the 27th, at the latest.
empedocles
(15,751 posts)Aquaria
(1,076 posts)n/t
empedocles
(15,751 posts)Fortunately, the Speaker of the House - is the Captain
beachbumbob
(9,263 posts)C_U_L8R
(45,001 posts)It couldn't be that he gave a wobbling wheezing delivery that reassured no one that there is a plan to save lives. Instead we get a whackadoodle travel ban that is both unworkable and ineffective. And nowhere does he address actually helping the health community with rapid response and testing. The stock market has no confidence in this idiot, and neither do we. If the Congress weren't such suck ups, they'd vote no confidence too and toss this loser out on his ass. Okaaaaaaay.