Stock futures sink as coronavirus cases top 700,000 globally

[Yo_Mama_Been_Loggin]

Stocks futures kicked off the overnight session lower as market participants continued tracking the spread of the coronavirus and the daily life disruptions it has invoked around the world.

On Sunday, President Donald Trump said during a news conference that he was extending guidelines for citizens to remain socially distanced through April 30. Earlier, Trump had sought to reopen businesses by Easter in mid-April.

Cases of the coronavirus climbed further over the weekend, topping 700,000 globally as of Sunday evening, according to Johns Hopkins data. The number of cases in the U.S. rose above 137,000, along with more than 2,000 deaths.

Dr. Anthony Fauci, infectious disease expert and member of the White House coronavirus task force, said during a CNN interview Sunday that he believed the virus could claim the lives of as many as 200,000 Americans amid “millions of cases,” noting that the estimates remain “a moving target.”

https://finance.yahoo.com/news/stock-market-news-live-updates-march-30-2020-221457745.html

[captain queeg]

1. Poor Trumpy, people al over the world are losing trillions of dollars

Just to make him look bad. It’s so unfair. He’s being mistreated more than anyone in history.

It would be funny, except that it isn’t.

[ProfessorGAC]

2. And This Surprises Whom?

I don't agree with those saying ≤10,000 or even 3,000 for the DJIA, but the bargain hunter bounce lasted only 2 days and the numbers are getting scary high. This index is not rebounding anywhere close to where it was.
And the overall uncertainty is going to be a roller coaster.
I'd guess the downs will be more than the ups for a while.

[empedocles]

4. Thought provoking question is whether DJIA 10,000 is more likely than DJIA 30,000

[ProfessorGAC]

5. My Guess

And it's only a guess is that it will settle between 18k & 19k.
Resulting in a 3 1/2 year net gain of 4%, or about 1.3%, which is pretty awful.

[empedocles]

6. My guess is that we have at least one more leg down, less dramatic

than the first leg down.

[empedocles]

3. Big key is - velocity of money