BuckToothMoron
Gold Member
- Apr 3, 2016
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Does that mean gas will go below $2 / gallon?This is a bit more than a correction..if oil continues to drop...the markets will follow...you have money in a 401k? Too bad for you:
Dow craters 2,000 points and S&P 500 down more than 7% after trading resumes
Stocks tumbled on Monday as investors braced for the economic fallout from the spreading coronavirus, while a shocking all-out oil price war added to the anxiety.
The Dow Jones Industrial Average tanked more than 1,800 points at the open, while the S&P 500 plunged 7%. The massive sell-off triggered a key market circuit breaker in morning trading. Trading was halted for 15 minutes until 9:49 a.m. ET.
The sharp declines followed a roller-coaster week that saw the S&P 500 swing up or down more than 2.5% for four days straight. While Monday’s drop was significant, it still didn’t crack the 20 worst days for the S&P 500.
Investors continued to seek safer assets amid additional fears that the coronavirus will disrupt global supply chains and tip the economy into a recession. The yield on the benchmark 10-year Treasury note dropped below 0.5% for the first time ever, while the 30-year rate breached 1%.
Saudi Arabia on Saturday slashed official crude selling prices for April, in a sudden U-turn from previous attempts to support the oil market as the coronavirus hammers global demand. The move came after OPEC talks collapsed Friday, prompting some strategists to see oil prices crater to $20 this year.
“Crude has become a bigger problem for markets than the coronavirus,” Adam Crisafulli, founder of Vital Knowledge, said Sunday. “It will be virtually impossible for the [S&P 500] to sustainably bounce if Brent continues to crater,” he added.
If we're still allowed to drive anywhere, of course?
Maybe, the price of gas is not directly correlated to the price of oil. There are a lot
I never bought a share of stock in my life. I've had the same S-P mutual funds and certain sector funds for 40 yrs. Biotech was a home run. Fidelity Funds to be exact.Man. Now is the time to buy....buy....buyDo tell what should Trump do?
Can't believe people rally around misery and want a US failure.
Wanting a crash. I bet those wanting a crash don't have 2 nickels to rub. I feel so sorry for you.
So you buying stocks here. Tell me which ones so I can buy some puts on them. Stocks to go lower, much lower.
Have you heard of ETF’s? You can buy the same basket of stocks using ETFs as mutual funds without the fees. Your broker at Fidelity will NEVER tell you about them because he wants to make the payments on his BMW.