[ April 23, 2024 ]
Updated: The S&P 500 dropped 9.3% while the Dow Jones Industrial Average fell 2,174 points, or 9.4%. The Nasdaq Composite traded 9.3% lower. Those losses put the major averages on track for their worst day since the “Black Monday” market crash of 1987. They also eclipsed the steep decline seen on Thursday.
It’s a terror attack – economic terrorism. Democrats war on America.
S&P 500 drops 8%, triggers ‘circuit breaker’ trading halt even after the Fed cuts rates
Chairman Jay Powell on massive actions taken by the Fed to aid economy
Story continues below advertisementStocks fell sharply on Monday even after the Federal Reserve embarked on a massive monetary stimulus campaign to curb slower economic growth amid the coronavirus outbreak.
The S&P 500 dropped 8.14% shortly after the open, triggering a “circuit breaker” trading halt that will last for 15 minutes. The Dow Jones Industrial Average fell 9.7%, or 2,250 points. The Nasdaq Composite slid 6.1%.
Before the open, futures contracts tied to the major averages hit their “limit down” levels, meaning they could not trade below that threshold. Those limits are imposed by the CME Group to maintain orderly market behavior.
While the central bank’s actions may help ease the functioning of markets, many investors said they would ultimately want to see coronavirus cases peaking and falling in the U.S. before it was safe to take on risk and buy equities again.
“The Fed blasted its monetary bazooka for sure,” said Peter Boockvar, chief investment officer at Bleakley Advisory Group. “This better work because I don’t know what they have left and no amount of money raining from the sky will cure this virus. Only time and medicine will.”
20200303 Fed Rate cuts
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13 Comments
4 years ago
Don’t worry, this is just psychological, and markets will recover. When Trump says. “I am taking drastic new steps”, then the market assumes that catastrophe is imminent, and panics. But soon they realize that the new steps are working, and the catastrophe didn’t happen. So then, they look around, and see BARGAINS, everywhere, and start buying!
4 years ago
All this hysteria is INSANE. Our Governor DeWine in Ohio has forced ALL restaurants closed until further notice, except the FAST FOOD drive-thrus. SIMPLY RIDICULOUS. What’s next, MARSHALL LAW? There are only 6 cases of the Wuhan virus in Ohio and 2 of those are recovering nicely and they are ELDERLY, SO if you are elderly and have a compromised immune system (lungs, heart, upper respiratory), THEN STAY HOME and don’t risk it. If you do not, then just stay clean, wash your hands and USE COMMON SENSE, that’s all you have to do. But, I realize there are just some NASTY FOOLISH PEOPLE WHO JUST DON’T CARE AND THEY WILL GO OUT ANYWAY. Just remember, if you are one of those people, WHAT GOES AROUND ALWAYS COMES AROUND.
I am retired, but driving through our suburban town, it is almost like a scene out of THE WALKING DEAD.
People: THINK and use your common sense, but if you MUST BE THAT FEARFUL AND STUPID, then I get to roam around without a lot of DUMB people around; no crowds, nothing. I can get everything I need without all the crazies (already did that a month ago). I was pretty much stocked up some time ago, but I am not hoarding like most. We are semi-preppers anyway, so we could last over a year without too many problems.
4 years ago
Reply to
TomSJr
Trump opposition is doing all possible to unseat him.
Nothing else has worked. Remember never let a crisis go to waste! Globalists and communists are totalitarians.
Notice how GERMANY has closed it’s borders but demends GREECE keep their borders OPEN.
4 years ago
Reply to
TomSJr
That’s the same forkin’ mikki dawiner that proposed “red flag” laws. A forkin’ little girly that, actually, made a semi-decent AG. But, a governor, little mikki is NOT.
4 years ago
NOT everyone is unhappy,…… Leftist are soaking themselves in absolute JOY !!! 
4 years ago
Reply to
AR154U☑ᵀʳᵘᵐᵖ DEPLORABLE 2020
… yes, they’re always happy when normal people are unhappy and miserable
… but IMHO … they’ve jumped the shark on this one.
… The Coronavirus will take the blame, and when the Chinese-caused Wuhan Flu is over, the markets will surge
… By November, America will be on a Come-Back like never before
… and haters like Maher will be on the brink of suicide … because they can’t stand it when we’re happy
you and yours have a wonderful week, AR15!
4 years ago
Reply to
Dan Knight
Thanks Dan. Drive safe, drive slow, and best wishes to you and yours!
While the virus remains, a day of reckoning is in store for the entire MSM.
4 years ago
Reply to
AR154U☑ᵀʳᵘᵐᵖ DEPLORABLE 2020
“Lose our Democracy”. Seems to me the leftists are the ones freaking out threatening the populace, gun grabbing etc. In effect ignoring the Constitution. Governor Blackface Nothead in VA just signed Bill H1627.
18.2-152.7:1. Harassment by computer; penalty.
If any person, with the intent to coerce, intimidate, or harass any person, shall use a computer or computer network to communicate obscene, vulgar, profane, lewd, lascivious, or indecent language, or make any suggestion or proposal of an obscene nature, or threaten any illegal or immoral act, he shall be is guilty of a Class 1 misdemeanor. A violation of this section may be prosecuted in the jurisdiction in which the communication was made or received or in the City of Richmond if venue cannot otherwise be established and the person subjected to the act is one of the following
officials or employees of the Commonwealth and such official or employee
was subjected to the act while engaged in the performance of his public duties
or because of his position with the Commonwealth: the Governor, Governor-elect,
Lieutenant Governor, Lieutenant Governor-elect, Attorney General, or Attorney
General-elect, a member or employee of the General Assembly, a justice of the
Supreme Court of Virginia, or a judge of the Court of Appeals of Virginia.
Sooo….come July 1st. I will be muzzled and cannot state that Gov. Nothead is a lying, racist, blackface, triple KKK, hood wearing, best of him ran down daddy’s leg. Simply put as Bugs Bunny would say “What a Maroooon”. Yes this really passed. He really signed it along with a host of anti gun laws. Said he would be back next session for the confiscation part that was defeated.
BTW..Class 1 Misdemeanors. Class 1 misdemeanors are the most serious misdemeanors in Virginia. A Class 1 misdemeanor is punishable by up to 12 months in jail, a fine of up to $2,500, or both.
4 years ago
computer generated death spiral…
markets go down because of computer generated sell orders…..
computers generate sell orders because markets are down a certain percent….
rinse repeat….until computer generated sell orders are temporarally banned
4 years ago
4 years ago
This is the globalists at work to get rid of Trump talking points.
Pay attention to WHO will be buying up on the cheap.
4 years ago
The ChiComs launched WW III with the release of the Wuhan virus in the West. They attacked us with a vicious WMD that will kill tens of thousands. This attack is on the same nefarious level as Pearl Harbor and 9/11. The ChiComs are counting on the Dog Fart Media and the Commiecrats to cover their tracks. It’s not working and we will emerge from the attack stronger than ever and determined to bring an end to the ChiCom terror.
