Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
"Stock futures tank, hit ‘limit down’ halt after Trump speech; Dow set to fall 1,100 points
Futures contracts tied to the major U.S. stock indexes dove early Thursday after an address from President Donald Trump failed to quell concerns over the possible economic slowdown from the coronavirus.
Futures on the Dow Jones Industrial average, the S&P 500 and Nasdaq-100 all traded at the so-called limit down threshold, off by 5%. Dow futures implied a loss of more than 1,100 points at the open. The SPDR S&P 500 ETF Trust (SPY), which tracks the S&P 500, was down more than 5% in the premarket.
Exchanges halt trading of futures contracts if they drop by more than 5%, acting as a floor for selling until regular trading resumes at the opening bell at 9:30 a.m. ET. After stocks open in regular trading, the S&P 500 must drop by 7% before triggering the New York Stock Exchange’s circuit breaker, which halts trading temporarily...."
Why is everyone panicking?
Is no one here old enough to remember that this thing happens roughly once a decade or so?
Bulls & bears, booms & busts, the market has always had its cycles, nothing new.
Because as usual people want to believe that their political party of preference somehow controls this nonsense like the Wizard of OZ behind the curtain. General public is stupid when it comes to personal finance and investing. It leads to uninformed, easily manipulated, and panicked investors.... If you can even call them investors.
This is actually Trump's 2nd bear market, which explains why the market has gone nowhere in the past 2 years. In late 2018 it fell 19.73%.
That was trade related, that has been resolved and we were looking to cruise past 30,000, then the virus struck. What can you do, terrible luck but finally an opportunity to buy cheap stocks as people panic and foolishly sell.
Nice work, Donald! Panic selling takes over the market on Trump's boneheaded travel ban.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
