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Easily. We are a consumer economy. If consumers stay home like they are doing in countries affected it will ravage our economy. Already supply disruptions have cut GDP estimates in half.
I think a lot of people are overreacting about this whole thing.
I personally don't think this is going to tank the economy.
We can't avoid an infection. How serious it will be in the US is an unknown at this time. The US will be seeing many, many more cases in a month or so. Infections will peak a month or two after that, with a drop thereafter. This isn't Ebola, thank heaven, which really was a killer.
No, the market isn't dropping another 10,000 points. That's nuts.
This is a great time to be sitting on cash. We'll get through this mess in a month or two. When the picture is clearer, the market will rebound like a rocket. Just like it did after it dived at the end of 2018. Traders are salivating. Some went to cash a week ago. I remember hearing more than one back in 2018 say they were loving the correction. Great time to make money.
I think a lot of people are overreacting about this whole thing.
I personally don't think this is going to tank the economy.
I agree with this. Like so much these days, everything is overhyped. I do think the US will have a significant number of flu cases, as will the rest of the world. I don't think the economic effects will be nearly as severe as the hyperbole right now. I also think the stock market is way overreacting.
Too early to say. Let's see if the hyperbolic selloff continues. Today's close 26,561. Almost 10% off in three trading days. That's nuts and assumes the entire year will be a bummer. Usually with flash selloffs, bottoms occur pretty quickly. So, anything under 25,000 I would guess. 23,200 would be 20% off the February high. Certainly one could start buying at that point. I'm not a trader/market timer, am fully invested, but always keep enough cash for near term withdrawals to wait out a recovery - even if it takes two or more years. I've just seen so much throughout the '08-09 crash and others since then, that for me it's best to ignore the noise, not sell in a panic, and wait it out. I've learned that lesson the hard way.
Too many unknows and we haven't even felt the full impact of the virus as have other countries. I expect the market to continue the decline until we see that it is contained and anyone that thinks we have this under control is mistaken.
Bank of America today forecast the worst global GDP growth since the recession. Goldman said earning growth will be zero for US companies in 2020. Not looking too good.
Bank of America today forecast the worst global GDP growth since the recession. Goldman said earning growth will be zero for US companies in 2020. Not looking too good.
And yes the virus plays a role in that. But many investment houses had already issued statements to their client suggesting there would be a slow down.
I think the press conference was a success and I'm interested to see if the market reacts tomorrow.
Trump is right. We have the best people in the world/most resources to deal with something like this. It's not about politics--I don't care what president is up there that says that, they would be right.
I'm personally not worried about this, I have doctor family and nurse friends assuring me we're good.
You missed the part Pence wipes his nose with his hand and then shakes hands...lol.
There is no need to worry but the press conference was a disaster. Trump contradicted the CDC statements he says Pence has some kind of 'skill' with this but fails to specify what that is ....blah blah.
I felt no more assured it would be okay after Trump talked then I did before he talked.
Nothing he said was reassuring and his concern seems to be more about making sure this does not reflect on his performance...
I'm not overly worried. I don't live in a big city, have the luxury of not having to be in large populated areas, etc.
But the press conference yesterday was a mess.
I'm getting my updates from other countries and the CDC and WHO officials. The White House can't even give us a straight line on who is in charge. Trump says Pence is, Azar says he is, with Pence.....seems there is more concern for who gets the title then getting anything done.
If I lived in LA, New York - or any big city I would be making sure my at home supply of food included some of those pantry items that could be used if we lose some of our supply chains from California.
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