it's too bad you can't invest in Twitch streamers
Interesting infö from an infectious disease doctor on Joe Rogan Experience: said its just started, going to get much worse. Kids don't show symptoms with Coronavirus, but can transmit it. Definitely 10 to 15x higher mortality rate than regular flu. Obesity going to play a factor for Americans as its as bad as smoking.
Quote: @purplefaithful said:
@"BarrNone55" said:
Kansas and Duke have pulled out from the tournament.
This also marks the first time college students have pulled out of anything voluntarily.
Merica is shutting down...This is the big crowd stuff, restaurants etc are next. Unchartered territory now. How will the economy be impacted? The oldest bull market in Stock Market history is over.
https://twitter.com/NCAA/status/1238197201928667136
Restaurants closing would be far bigger than any shut down of an amusement park or a sporting event. There are hundreds of thousands of restaurants that could shutter, putting millions out of work. As millions of healthy and unhealthy workers prepare food for our families, that decision to deny paid sick leave could backfire on the economy in a devastating way.
Quote: @MaroonBells said:
@ purplefaithful said:
@"BarrNone55" said:
Kansas and Duke have pulled out from the tournament.
This also marks the first time college students have pulled out of anything voluntarily.
Merica is shutting down...This is the big crowd stuff, restaurants etc are next. Unchartered territory now. How will the economy be impacted? The oldest bull market in Stock Market history is over.
https://twitter.com/NCAA/status/1238197201928667136
Restaurants closing would be far bigger than any shut down of an amusement park or a sporting event. There are hundreds of thousands of restaurants that could shutter, putting millions out of work. As millions of healthy and unhealthy workers prepare food for our families, that decision to deny paid sick leave could backfire on the economy in a devastating way.
Worst day on Wall Street since 1987 as virus fears spreadBy STAN CHOE and ALEX VEIGA Associated PressMarch 12, 2020 — 4:50pm
NEW YORK — The escalating coronavirus emergency sent the stock market Thursday into its worst slide since the Black Monday crash of 1987, extending a sell-off that has now wiped out most of Wall Street's big gains since President Donald Trump took office.
The S&P 500 plummeted 9.5%, for a total drop of 26.7% from its all-time high, set just last month. That puts it way over the 20% threshold for a bear market, officially ending Wall Street's unprecedented bull-market run of nearly 11 years. The Dow Jones Industrial Average sank 2,352 ponts, or 10%, its heaviest loss since its nearly 23% drop on Oct. 19, 1987.
European markets fell 12% in one of their worst days ever, even after the European Central Bank pledged to buy more bonds and offer more help for the economy.
The rout came amid a cascade of cancellations and shutdowns across the globe — including Trump's suspension of most travel to the U.S. from Europe — and rising worries that the White House and other authorities around the world can't or won't counter the economic damage from the outbreak any time soon.
"We're starting to get a sense of how dire the impact on the economy is going to be. Each day the news doesn't get better, it gets worse. It's now hit Main Street to a more significant degree," said Liz Ann Sonders, chief investment strategist at Charles Schwab.
Stocks fell so fast on Wall Street at the opening bell that they triggered an automatic, 15-minute trading halt for the second time this week. The so-called circuit breakers were first adopted after the 1987 crash, and until this week hadn't been tripped since 1997.
The Dow briefly turned upward and halved its losses at one point in the afternoon after the Federal Reserve announced it would step in to ease "highly unusual disruptions" in the Treasury market. But the burst of momentum quickly faded.
Trump often points proudly to the big run-up on Wall Street under his administration, warning a crowd at a rally last August that "whether you love me or hate, you gotta vote for me," or else your 401(k) will go "down the tubes."
Just last month, the Dow was boasting a nearly 50% increase since Trump took the oath of office on Jan. 20, 2017. By Thursday's close, the Dow was clinging to a 6.9% gain, though it was still up nearly 16% since just before Trump's election in November 2016.
The Dow officially went into a bear market on Wednesday, when it finished the day down more than 20% from its all-time high. For the S&P 500, this is the fastest drop since World War II from a record high to a bear market.
The combined health crisis and retreat on Wall Street heightened fears of a recession.
"This is bad. The worst and fastest stock market correction in our career," Chris Rupkey, chief financial economist at MUFG Union, said in a research note overnight. "The economy is doomed to recession if the country stops working and takes the next 30 days off. The stock market knows it."
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