Current Events > Stock Market Crash of 2/24?

(+) Yeah! (+)

Markets have been sketchy the last week or two because of the virus but it really hasn't hurt it too much. But today seems different. As of 8:30 the Dow is expected to be down over 750 points at open.

Essentially everything is going to down...a lot. Expecting a thousand + point drop today. People have been in denial about this virus and it seems like reality is about to hit.

Not good.

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today americans will see the reality, these clowns wont be yelling stop fearmongering much more

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Probably multiple factors. The virus and the effect it's had on travel and production is one thing, but there was already a lot of uncertainty in the market because of a bunch of other factors even before the virus showed up

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I divorced myself from the market last week, I'd keep an eye on the banks as well.

I dont own shares. Why should I care if the 1% lose some pretend money?

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Well if it's on CE its definitely going to happen

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I picked a great time to dump a bunch of money into the market lol

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The 2nd day of the 24th month?


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Thank you Trump

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If it's virus related then it'll come back

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Crepes posted...

I dont own shares. Why should I care if the 1% lose some pretend money?

Your boss does and he might not be able to pay your wage on time come next month.

I hope I'm wrong. It's not even open yet and maybe I'm just buying into the hype but it feels like today is going to be historically bad.

If the implied open is even close, it will only have to drop another ~300 pts to be the biggest single daily loss in US history.


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so i should look to buy today or later this week? which would be better?

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Might not be as bad as 08-09. It all depends on how fast China might bounce back and if US will get a outbreak.

But retail could take a hit with Samsung being a major player in electronics.

Nice...this is why I buy on Mondays

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https://www.reuters.com/article/us-usa-stocks/futures-plummet-as-investors-dump-stocks-on-fears-of-pandemic-idUSKCN20I1GD

Might be a good time to buy if you have faith in the Trump administration keeping America safe from an outbreak.

teepan95 posted...

The 2nd day of the 24th month?

Lousy Smarch weather

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No doubt the government will pump it up again.

Newhopes posted...

No doubt the government will pump it up again.

They can try but the virus is going to have some lasting impacts and it's still really the beginning. Any company that does business or has a supplier in China is going to see an impact and the situation isn't improving. The gov can cut rates but I'm not sure that will really help that much with this type of crisis.

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welp, crypto will go up a bit
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okay i'm buying thanks TC

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Just bought some.

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whitelytning posted...

Any company that does business or has a supplier in China is going to see an impact and the situation isn't improving.

If anything, this is a lesson that globalization isn't really worth it if your supply chain still has critical points of failure.
A single factory in Wuhan is just as fragile a situation as a single factory in Duluth.

Welp I bought too early

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Crepes posted...

I dont own shares. Why should I care if the 1% lose some pretend money?

Is this trolling or do people really think like this?
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jwlim80 posted...

Your boss does and he might not be able to pay your wage on time come next month.

oh look its this guy again. Can you at least explain one of your fucking posts for once.

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Damn_Underscore posted...

Is this trolling or do people really think like this?

no I genuinely do. Please explain why I should care.

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Awesome posted...

today americans will see the reality, these clowns wont be yelling stop fearmongering much more

shut up

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I've transferred more money into my robinhood to capitalize off this and can only hope it goes through before the market recovers :/

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Awesome posted...

today americans will see the reality, these clowns wont be yelling stop fearmongering much more

No matter how bad it gets, they'll be yelling "stop fearmongering!" louder and louder.

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Crepes posted...

no I genuinely do. Please explain why I should care.

Because it's been a long time since the average person was realisticly able to take part in the financial sector. This is especially true in the last few years since Robinhood introduced free stock trading and even more recently other brokerages have made their trading free too in response to Roninhood.

Not to mention that basically every worker today who has a retirement plan has one that relies on the financial markets being successful.
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The Dow crossed over the 1,000 point Mark a bit ago. Almost down 4%.

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I've had some money put aside for just this occasion, think it is buy time or can it go lower?

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Got to love Silicon Valley's over reliance on China.

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Damn_Underscore posted...

Because it's been a long time since the average person was realisticly able to take part in the financial sector. This is especially true in the last few years since Robinhood introduced free stock trading and even more recently other brokerages have made their trading free too in response to Roninhood.

Not to mention that basically every worker today who has a retirement plan has one that relies on the financial markets being successful.

yes but Im old enough to realise that these things always self correct on the long term. And if not then my pension will be worth fuck all anyway and nothing I can do.

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Monolith1676 posted...

Got to love Silicon Valley's over reliance on China.

Got to love soy farmers over reliance on China

Got to love Hollywoods over reliance on China

tigerslashII posted...

I've had some money put aside for just this occasion, think it is buy time or can it go lower?

I don't think today will be the bottom but it might still be a good time to buy. IMO, any company with a decent amount of business in China will have a bigger and more extended impact from the virus so it could be a good time to look at other companies that may not be as exposed to those problems. I would think longer term on those buys would be better though because the virus isn't going away anytime soon. If you like more risks a lot of people will be buying the dip in the short term and looking for rebounds later this week in the more pop stocks that are getting crushed today like TSLA MSFT and AMD.

I don't really know what I'm doing though so I'm probably wrong.


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Stock market could be concerned about climate change and using virus as a red herring.

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ehhwhatever posted...

Stock market could be concerned about climate change and using virus as a red herring.

Lmfao

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So Trump just pump another 2.5 billion into containing the outbreak. Which I forsee should instill some confidence back by the end of the day.

So is it safe to buy now while it's low ?

The market was due a correction.

Not a big deal. I was able to pull the trigger on starting two new positions. Both of which I'd love to make much larger if prices keep going down

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The pull back continues today...

Dow is down about 550 right now. Ouch.

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I bought a bit more of TVIX today.

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Oof

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Lol Trump. Such a winning economy.

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EndOfDiscOne posted...

Lol Trump. Such a winning economy.

Did Trump release covid19?

Market was over valued, and its still over valued after the drop

But, the beauty of it is the entire market dropping has dropped a few already undervalued companies into the territory of free money

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