Market drops 7%..triggers Stoppage--as Oil drops on world markets!

[22lcidw]

What is Trump doing? The fucking idiot Trump is tweeting about the NYTs and "fake news". We are led by the king of fools, folks.

But the endless impeachment proceedings.....Remember........when maybe there could have been some bipartisan stuff done.....lets enjoy this era while we can.

 

[DigitalDrifter]

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.

Does that mean gas will go below $2 / gallon?
If we're still allowed to drive anywhere, of course?

Just depends on where you are. A plunge like this will result in $1.25 gas in certain places.

 

[pknopp]

This fall has very little to do with the virus. It's been a long time coming.

Ahh, finally! Somebody else understands. Good to know. Loving my gold and my UAL and NVidia puts.

Let’s let the kids squabble and talk business. Where do you see a bottom, or perhaps at what level will you be going long? For me, DJIA around 17-18K

I don't pretend to know where the bottom will be. IMO the bottom will likely be around where we would be anyway if we hadn't decided to reinflate the bubble in 2008. Hopefully there is nothing we can do this time to create another bubble.

 

[OldLady]

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.

Does that mean gas will go below $2 / gallon?
If we're still allowed to drive anywhere, of course?

Just depends on where you are. A plunge like this will result in $1.25 gas in certain places.

They tell us our high gas prices are because it costs so much to drive it to us. I looked at state gasoline tax rates, and that's not the problem. We have lower tax rates than Ohio and about the same as Tennessee. Ironic that fuel companies complain about the cost of diesel to bring the gasoline to us.

 

[Persistence Of Memory]

Do tell what should Trump do?

Man. Now is the time to buy....buy....buy


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.

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.

 

[Persistence Of Memory]

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.

Does that mean gas will go below $2 / gallon?
If we're still allowed to drive anywhere, of course?

Just depends on where you are. A plunge like this will result in $1.25 gas in certain places.

They tell us our high gas prices are because it costs so much to drive it to us. I looked at state gasoline tax rates, and that's not the problem. We have lower tax rates than Ohio and about the same as Tennessee. Ironic that fuel companies complain about the cost of diesel to bring the gasoline to us.

Didn't Ohio sock a .10 gas tax increase per gallon this Summer?.....To fix roads???.....Yeah right.

 

[pknopp]

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.

Does that mean gas will go below $2 / gallon?
If we're still allowed to drive anywhere, of course?

Just depends on where you are. A plunge like this will result in $1.25 gas in certain places.

They tell us our high gas prices are because it costs so much to drive it to us. I looked at state gasoline tax rates, and that's not the problem. We have lower tax rates than Ohio and about the same as Tennessee. Ironic that fuel companies complain about the cost of diesel to bring the gasoline to us.

Part of the problem, maybe more of a symptom of the bigger problem is the constantly fluctuating gas prices. As of late they have been a little more stable but here we go again. In the end the markets are to blame. Back when only end consumers could invest in the oil markets the prices remained relatively stable. Now that hedge funds and speculators can invest it's been a mess.

We would never do it but to invest in oil you should have to take actual physical ownership of what you buy like it once was. (This is a little bit simplified of an argument but the basics are there)

 

[Likkmee]

Do tell what should Trump do?

Take democracy and FreeDumb to Saudi Hairabia via cruse missile....should have been done in March 2002, and left Sodomy alone.

 

[pknopp]

Do tell what should Trump do?

Take democracy and FreeDumb to Saudi Hairabia via cruse missile....should have been done in March 2002, and left Sodomy alone.

Saudi Arabia does not set the price of oil. The markets do. That nothing that OPEC was doing was able to stop oil when it went to near $150 proves this out. We like to blame them but it's not them. It's an irrational market built upon bubbles.

 

[ClassyCanadian]

Do tell what should Trump do?

Take democracy and FreeDumb to Saudi Hairabia via cruse missile....should have been done in March 2002, and left Sodomy alone.

Saudi Arabia does not set the price of oil. The markets do. That nothing that OPEC was doing was able to stop oil when it went to near $150 proves this out. We like to blame them but it's not them. It's an irrational market built upon bubbles.

The Saudis didn't start this, Russia did.

Putin is waging war on American shale

 

[Persistence Of Memory]

Do tell what should Trump do?

Take democracy and FreeDumb to Saudi Hairabia via cruse missile....should have been done in March 2002, and left Sodomy alone.

Saudi Arabia does not set the price of oil. The markets do. That nothing that OPEC was doing was able to stop oil when it went to near $150 proves this out. We like to blame them but it's not them. It's an irrational market built upon bubbles.

The Saudis didn't start this, Russia did.

Putin is waging war on American shale

great response.keen eyes

 

[pknopp]

Do tell what should Trump do?

Take democracy and FreeDumb to Saudi Hairabia via cruse missile....should have been done in March 2002, and left Sodomy alone.

Saudi Arabia does not set the price of oil. The markets do. That nothing that OPEC was doing was able to stop oil when it went to near $150 proves this out. We like to blame them but it's not them. It's an irrational market built upon bubbles.

The Saudis didn't start this, Russia did.

Putin is waging war on American shale

War? How is this not simple free market capitalism?

 

[ClassyCanadian]

Do tell what should Trump do?

Take democracy and FreeDumb to Saudi Hairabia via cruse missile....should have been done in March 2002, and left Sodomy alone.

Saudi Arabia does not set the price of oil. The markets do. That nothing that OPEC was doing was able to stop oil when it went to near $150 proves this out. We like to blame them but it's not them. It's an irrational market built upon bubbles.

The Saudis didn't start this, Russia did.

Putin is waging war on American shale

War? How is this not simple free market capitalism?

Putin and Russia need oil exports and they know lower prices will hurt the American shale producers. It's working, shale producers are losing billions in equity.

 

[pknopp]

Do tell what should Trump do?

Take democracy and FreeDumb to Saudi Hairabia via cruse missile....should have been done in March 2002, and left Sodomy alone.

Saudi Arabia does not set the price of oil. The markets do. That nothing that OPEC was doing was able to stop oil when it went to near $150 proves this out. We like to blame them but it's not them. It's an irrational market built upon bubbles.

The Saudis didn't start this, Russia did.

Putin is waging war on American shale

War? How is this not simple free market capitalism?

Putin and Russia need oil exports and they know lower prices will hurt the American shale producers. It's working, shale producers are losing billions in equity.

You didn't answer my question.

 

[The Original Tree]

China and Russia teaming up with The Democrat party again to try to slow our President down and get him out of office.

It's no coincidence that COVID 19 Scare, and The Russia Oil Feud Scare began just a few months before the May Primaries, and National Elections.

This is a planned attack on our Energy Sector, and our Stock Market, and Health Care System.

China and Russia are doing all they can to get either a Socialist or a Communist in The White House, and The Democrat Party will take help from anyone who is willing to give it, while Iran and North Korea looks on rooting for Trump's removal from office.

Putin takes aim at US shale oil industry

 

[ClassyCanadian]

Take democracy and FreeDumb to Saudi Hairabia via cruse missile....should have been done in March 2002, and left Sodomy alone.

Saudi Arabia does not set the price of oil. The markets do. That nothing that OPEC was doing was able to stop oil when it went to near $150 proves this out. We like to blame them but it's not them. It's an irrational market built upon bubbles.

The Saudis didn't start this, Russia did.

Putin is waging war on American shale

War? How is this not simple free market capitalism?

Putin and Russia need oil exports and they know lower prices will hurt the American shale producers. It's working, shale producers are losing billions in equity.

You didn't answer my question.

I did, you don't understand the answer

 

[MarathonMike]

What is Trump doing? The fucking idiot Trump is tweeting about the NYTs and "fake news". We are led by the king of fools, folks.

Trump didn't fix the stock market crash:
ORANGE MAN BAD!

 

[Persistence Of Memory]

Do tell what should Trump do?

Take democracy and FreeDumb to Saudi Hairabia via cruse missile....should have been done in March 2002, and left Sodomy alone.

Saudi Arabia does not set the price of oil. The markets do. That nothing that OPEC was doing was able to stop oil when it went to near $150 proves this out. We like to blame them but it's not them. It's an irrational market built upon bubbles.

The Saudis didn't start this, Russia did.

Putin is waging war on American shale

War? How is this not simple free market capitalism?

Putin and Russia need oil exports and they know lower prices will hurt the American shale producers. It's working, shale producers are losing billions in equity.

Totally correct. The Bolshevics are only an empty shell of a country. This is all they have . It will backfire eventually.

 

[EvilEyeFleegle]

Do tell what should Trump do?

Take democracy and FreeDumb to Saudi Hairabia via cruse missile....should have been done in March 2002, and left Sodomy alone.

Saudi Arabia does not set the price of oil. The markets do. That nothing that OPEC was doing was able to stop oil when it went to near $150 proves this out. We like to blame them but it's not them. It's an irrational market built upon bubbles.

The Saudis didn't start this, Russia did.

Putin is waging war on American shale

War? How is this not simple free market capitalism?

LOL! Simple free market capitalism--is war! Using economics to defeat an opponent--is classic...ask Reagan!

 

[pknopp]

Saudi Arabia does not set the price of oil. The markets do. That nothing that OPEC was doing was able to stop oil when it went to near $150 proves this out. We like to blame them but it's not them. It's an irrational market built upon bubbles.

The Saudis didn't start this, Russia did.

Putin is waging war on American shale

War? How is this not simple free market capitalism?

Putin and Russia need oil exports and they know lower prices will hurt the American shale producers. It's working, shale producers are losing billions in equity.

You didn't answer my question.

I did, you don't understand the answer

Let's see, when we manipulate the markets it's Capitalism. When others do so it's Communism. How's that working out?