Dow is currently in a freefall

[_EAllusion]

Goldman Sachs is forecasting short term GDP numbers that are in Great Depression territory. I feel like I am being newsboarded.

[_Doctor CamNC4Me]

We’re at ~20k. Holy crap.

Edit: Guess the world thinks that 0% move was panic.

- Doc

[_Icarus]

The real debate will soon be about how much of this was coronavirus and how much of this was other things. Remember economists have been predicting a recession before 2021 since last summer. A correction was always assumed because the market was way overvalued to begin with. Saudis driving down the price of crude seems to have triggered the biggest drop in the market along with the fed slashing rates to zero, triggering a 3000 point drop because investors interpreted that as panicking.

[_MeDotOrg]

DJIA is currently

19,959.38 −1,278.00 (6.02%)
Mar 18, 11:26 AM EDT

Hey Nineteen

The Dow first broke 20k on January 25, 2017.

[_canpakes]

We’re at ~20k. Holy crap.

Edit: Guess the world thinks that 0% move was panic.

- Doc

subs was always asking when we could finally attribute the market levels to the current Administration's actions, as opposed to the longer term trend’s inertia. We may finally be seeing what he was asking about.

[_Icarus]

Trading has halted because the markets were plunging too far.

I know a large part of this has to do with Corona, but it seems like every time the President gives a press conference the markets plunge again. He is back to assuring Americans everything is great because "we're getting billions and billions in tariffs from China". He said this four times within a 2 minutes rant. Of course, no one pushes back on this because we've come to accept and expect his lying now.

People seem to forget that a recession was predicted before Corona and the markets didn't plunge until crude tumbled below $50/ barrel. It is now below $30. Here is a synopsis of what was discussed before Corona happened...

In the summer of 2019 a large majority of polled economists predicted a recession by the end of 2021. https://markets.businessinsider.com/new ... 1028456445

Stocks plummeted after Russia and Saudi Arabia pushed the price of crude down: https://www.wsj.com/articles/saudi-russ ... 1583835347

https://www.cnbc.com/2020/03/09/russia- ... he-us.html
The stock market was still overvalued after the first plunge: https://www.forbes.com/sites/garrettgun ... 27bcb9fb7e

While market sinks, Trump tweets on Obama, 'fake news' and the Dem primary https://www.politico.com/news/2020/03/0 ... ets-124320

Business conditions are at their worst level since the 2008 financial crisis, says Morgan Stanley
https://www.marketwatch.com/story/busin ... IkuC7qWpyg

http://fortune.com/2019/05/30/recession ... nd-market/

The U.S. Treasury 2-10 year yield curve inverted and that means stocks are on ‘borrowed time,’ says BAML https://www.marketwatch.com/story/the-u ... o_homepage

[_canpakes]

... it seems like every time the President gives a press conference the markets plunge again.

Yep. He seems to be as good at this as he is with his various branded merchandise failures.

[_Icarus]

DOW futures plunge into the 18,000s ... another week trending like this and the stock market will have dropped 50%.