The US stock market has now wiped out entire $11.5 trillion in value gained since Trump elected

[sandensea]

Thursday's massive sell-off has erased any remaining stock market gains made since President Trump's 2016 election win.
US stocks are down more than 8% Thursday afternoon as coronavirus risks build and investors fear near-term recession.

The total market cap of the US equities market, as measured by the Russell 3000 index, has declined by $11.5 trillion from its February 19 peak to $23.8 trillion as of Thursday morning.

The Trump administration initially downplayed the virus, with top economic adviser Larry Kudlow calling the outbreak "contained" on February 25 and telling investors to buy stocks while prices were lower.

Since then, House Democrats have pushed for fiscal relief legislation and the Federal Reserve has injected $1.5 trillion into the financial system to curb coronavirus' economic fallout.

At: https://markets.businessinsider.com/news/stocks/stock-market-outlook-2016-trump-win-gains-erased-coronavirus-risks-2020-3-1028991585

The Trump slump?

[jimfields33]

1. Went up 2,000 or so today.

I’m actually glad. There are a ton of elderly living of their 401Ks.

[walkingman]

3. The stock market is nothing more than Ponzie scheme these days. It is a rigged game but sadly

the only game in town. Nothing "free market" anymore in the Twilight Zone.

[jimfields33]

5. That's for sure.

[sandensea]

4. That it did - but was this the point of inflection?

Or just a dead cat bounce, like the kind we've seen a three or four of already since this selloff began in late February?

[Hoyt]

2. Goes to show how quickly paper wealth can evaporate.

[progree]

6. The index closed Thursday, 3/12/20 up 13.7% above its 11/8/16 (election day) close

[#] Russell 3000 index ( ^RUA )
https://finance.yahoo.com/quote/%5ERUA/history?p=%5ERUA
11/8/16 close: 1,262.54
3/12/20 close: 1,435.94 (Up 13.7% from the 11/8/16 close)

3/13/20 close: 1564.71

[#] Russell 3000 Vanguard ETF (VTHR)
https://finance.yahoo.com/quote/VTHR/history?p=VTHR

11/8/16 close: 98.02
3/12/20 close: 111.83 (Up 14.1% from the 11/8/16 close)

With reinvested dividends included (instead of just throwing them away), use the adjusted close:

11/8/16 adjusted close: 92.52
3/12/20 adjusted close: 111.83 (Up 20.9% from the 11/8/16 adjusted close)

3/13/20 close: 121.66, adjusted close: 121.66

So we're still a few bad days away from seeing the post election day gain being totally wiped out. At least from the perspective of a Russell 3000 index fund investor.