DOW Crashes -1,196 wiping out $5Trillion market Cap !
Feb 27, 2020 16:03:49 #
Holy Cow BATMAN .... how much lower can we go?
U.S. MARKETS
Stocks Fall Sharply as V***s Fears Show No Signs of Easing
Dow, S&P move toward correction territory, Treasury yields slide on investors’ anxiety about growth
U.S. stocks deepened their losses Thursday as investors braced for the spreading c****av***s to slow business activity and depress corporate earnings.
The Dow Jones Industrial Average fell 3.7%, about 1000 points, and the Nasdaq Composite slid 3.9%. The S&P 500 was down 3.8%, all near the lows on the day. If the indexes maintain those losses, they will close the session down more than 10% from their recent highs, a decline known as a correction.
If the S&P 500 were to close below the correction threshold, it would be the broad U.S. stock index’s fastest decline into correction territory from an all-time high in data going back to 1980, according to Dow Jones Market Data.
All three indexes were in negative territory for the year after punishing losses this week. Investors have grown increasingly worried about the potential economic impact of the v***s as it emerges in new locations.
“Obviously it’s a bloodbath,” said David Bahnsen, chief investment officer of The Bahnsen Group, a wealth-management firm. “When you get into a free-fall mode, there’s really little that can be done but wait for some sort of footing to be found.”
Some U.S. companies say they could lose as much as half their annual revenue from China if the c****av***s epidemic extends through the summer. American businesses will generate no earnings growth in 2020 if the v***s becomes widespread, Goldman Sachs Group’s equity analysts warned on Thursday.
C****AV***S AND THE MARKETS
“We have to brace ourselves for wave after wave of earnings downgrades,” said Paul O’Connor, head of multiasset at Janus Henderson Investors. “The globalization of the v***s extinguishes confidence in the V-shaped recovery that was the view last week.”
Microsoft warned Wednesday that supply-chain disruptions from the c****av***s would hurt sales this quarter, making it the second major tech company—after Apple—to lower expectations because of the epidemic.
With Thursday’s losses, only one sector of the S&P 500—the utilities group—was sitting in positive territory for the year. The stock index as a whole was down 6.2% for 2020.
European indexes also dropped, with the Stoxx Europe 600 tumbling 3.7%. In Asia, Japan’s Nikkei 225 closed 2.1% lower, while South Korea’s Kospi declined 1%.
Investors continued to seek the safety of government-bond holdings. The yield on the benchmark 10-year U.S. Treasury, which closed at a record low of 1.310% on Wednesday, fell to 1.299% Thursday, according to Tradeweb. Yields move inversely to bond prices.
A key measure of turbulence in U.S. stocks also rose Thursday, with the Cboe Volatility Index, or VIX, jumping to 33.27, its highest level since December 2018. The options-based gauge tends to rise when markets fall and investors reach for insurance-like contracts to protect their portfolios.
“It’s very scary on a personal level, and I think that psychology pervades through the market” said Sam Hendel, president and portfolio manager at Levin Easterly Partners. “As an investor, my job is to keep a cool head.”
More than 82,000 people have been infected by the v***s and the death toll stands at more than 2,800 globally. On Wednesday, American authorities said a patient in California might be the first U.S. c****av***s case to be diagnosed without a clear explanation for how the disease was t***smitted.
“Everyone is now trying to assess what the economic impact will be,” said Neil Dwane, global strategist at Allianz Global Investors. “The U.S. is looking at Europe and Japan as evidence of how the world is responding.”
U.S. MARKETS
Stocks Fall Sharply as V***s Fears Show No Signs of Easing
Dow, S&P move toward correction territory, Treasury yields slide on investors’ anxiety about growth
U.S. stocks deepened their losses Thursday as investors braced for the spreading c****av***s to slow business activity and depress corporate earnings.
The Dow Jones Industrial Average fell 3.7%, about 1000 points, and the Nasdaq Composite slid 3.9%. The S&P 500 was down 3.8%, all near the lows on the day. If the indexes maintain those losses, they will close the session down more than 10% from their recent highs, a decline known as a correction.
If the S&P 500 were to close below the correction threshold, it would be the broad U.S. stock index’s fastest decline into correction territory from an all-time high in data going back to 1980, according to Dow Jones Market Data.
All three indexes were in negative territory for the year after punishing losses this week. Investors have grown increasingly worried about the potential economic impact of the v***s as it emerges in new locations.
“Obviously it’s a bloodbath,” said David Bahnsen, chief investment officer of The Bahnsen Group, a wealth-management firm. “When you get into a free-fall mode, there’s really little that can be done but wait for some sort of footing to be found.”
Some U.S. companies say they could lose as much as half their annual revenue from China if the c****av***s epidemic extends through the summer. American businesses will generate no earnings growth in 2020 if the v***s becomes widespread, Goldman Sachs Group’s equity analysts warned on Thursday.
C****AV***S AND THE MARKETS
“We have to brace ourselves for wave after wave of earnings downgrades,” said Paul O’Connor, head of multiasset at Janus Henderson Investors. “The globalization of the v***s extinguishes confidence in the V-shaped recovery that was the view last week.”
Microsoft warned Wednesday that supply-chain disruptions from the c****av***s would hurt sales this quarter, making it the second major tech company—after Apple—to lower expectations because of the epidemic.
With Thursday’s losses, only one sector of the S&P 500—the utilities group—was sitting in positive territory for the year. The stock index as a whole was down 6.2% for 2020.
European indexes also dropped, with the Stoxx Europe 600 tumbling 3.7%. In Asia, Japan’s Nikkei 225 closed 2.1% lower, while South Korea’s Kospi declined 1%.
Investors continued to seek the safety of government-bond holdings. The yield on the benchmark 10-year U.S. Treasury, which closed at a record low of 1.310% on Wednesday, fell to 1.299% Thursday, according to Tradeweb. Yields move inversely to bond prices.
A key measure of turbulence in U.S. stocks also rose Thursday, with the Cboe Volatility Index, or VIX, jumping to 33.27, its highest level since December 2018. The options-based gauge tends to rise when markets fall and investors reach for insurance-like contracts to protect their portfolios.
“It’s very scary on a personal level, and I think that psychology pervades through the market” said Sam Hendel, president and portfolio manager at Levin Easterly Partners. “As an investor, my job is to keep a cool head.”
More than 82,000 people have been infected by the v***s and the death toll stands at more than 2,800 globally. On Wednesday, American authorities said a patient in California might be the first U.S. c****av***s case to be diagnosed without a clear explanation for how the disease was t***smitted.
“Everyone is now trying to assess what the economic impact will be,” said Neil Dwane, global strategist at Allianz Global Investors. “The U.S. is looking at Europe and Japan as evidence of how the world is responding.”
Feb 27, 2020 19:22:39 #
Sicilianthing wrote:
Holy Cow BATMAN .... how much lower can we go? br... (show quote)
You forgot the Blame Trump part.....🙄😳
Feb 27, 2020 20:05:59 #
Feb 27, 2020 21:26:15 #
archie bunker wrote:
You forgot the Blame Trump part.....🙄😳
>>>
Awww well no worries Archie, he’s probably screwed anyway... even GoldmanSachs put out a warning late afternoon that the V***s could unseat Trump.
Feb 27, 2020 21:28:08 #
1ProudAmerican wrote:
Think I'll tell my financial guy to buy more stock for me...
>>>
Dig in deep girl... you’ll need to buy so deep into the dip to offset a 70% correction among other things.
There’s a lot of really sinister things going on in the markets never seen before.. but the ones you have to watch out for are the speculators behind the scenes.
More on those clowns later... (insert the usual suspects here)
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