The US stock market has now wiped out the entire $11.5 trillion of value it gained since Trump's 201

[UpInArms]

The US stock market has now wiped out the entire $11.5 trillion of value it gained since Trump's 2016 election victory

US stocks are down more than 8% Thursday afternoon as coronavirus risks build and investors fear near-term recession. The total market cap of the US equities market, as measured by the Russell 3000 index, has declined by $11.5 trillion from its February 19 peak to $23.8 trillion as of Thursday morning.

The current market cap is roughly equal to the size of the stock market when Donald Trump emerged victorious in the 2016 election. The Trump administration repeatedly downplayed the virus and its risks when outsized stock selling began in late February, with top economic adviser Larry Kudlow even saying the outbreak was contained on February 25.

... snip ...

The rapid escalation of the coronavirus, coupled with a new oil-market conflict between Russia and Saudi Arabia, swiftly negated the years of gains over just 20 trading days. Oil saw its worst day since 1991 on Monday when the global commodity battle drove a 32% price drop. The decline dragged on stocks enough for the market to post its worst single-day plunge since 2008.

Even after the Fed's trillion-dollar liquidity injection lifted risk assets Thursday afternoon, stocks are on pace to close down nearly 9%. The market has never seen such a steep drop into bear market territory. With government responses failing to bring investors much hope, the trend of heightened volatility and rotation into safe havens is holding strong.

More at https://markets.businessinsider.com/amp/news/stock-market-outlook-2016-trump-win-gains-erased-coronavirus-risks-2020-3-1028991585

[htuttle]

1. Trump's superpower is definitely losing money

Like a black hole.

[BootinUp]

2. Easy come, Easy go. Nt

[beachbumbob]

3. bigger question is how much PPT/federal reserve has wasted in trying to stop the plunge

$1-%1.5 trillion today alone. People have no idea what is being done to save companies while saying screw you to workers.

There is NO oversight on PPT/Fed reserve at all and they got full backing of the US treasury = americsn taxpayer

[UpInArms]

4. Isn't that just criminal, Bob?

These gangsters are robbing in broad daylight...

[beachbumbob]

5. best kept secret from the american people and congress is the PPT and what they can do

to make the elite richer and save THEIR wealth.

[UpInArms]

8. Thank Ronald Raygun

https://en.m.wikipedia.org/wiki/Working_Group_on_Financial_Markets

The Working Group on Financial Markets (also, President's Working Group on Financial Markets, the Working Group, and colloquially the Plunge Protection Team) was created by Executive Order 12631,[1] signed on March 18, 1988, by United States President Ronald Reagan.

As established by the executive order, the Working Group has three purposes and functions:

(a) Recognizing the goals of enhancing the integrity, efficiency, orderliness, and competitiveness of our Nation's financial markets and maintaining investor confidence, the Working Group shall identify and consider:

(1) the major issues raised by the numerous studies on the events in the financial markets surrounding October 19, 1987, and any of those recommendations that have the potential to achieve the goals noted above; and
(2) the actions, including governmental actions under existing laws and regulations (such as policy coordination and contingency planning), that are appropriate to carry out these recommendations.
(b) The Working Group shall consult, as appropriate, with representatives of the various exchanges, clearinghouses, self-regulatory bodies, and with major market participants to determine private sector solutions wherever possible.
(c) The Working Group shall report to the President initially within 60 days (and periodically thereafter) on its progress and, if appropriate, its views on any recommended legislative changes."[1]

[doc03]

6. I look for fracing boom to dry up here

in Ohio soon.

[XRubicon]

7. So what stock would you buy now?

I'm thinking about buying, this is the definition of when to buy.

[UpInArms]

9. I recommend not going there for a while

eom

[XRubicon]

12. I agree, but it will break at some point

This flu thing will end, that is for sure. Not saying it will be good but it will pass.

[Major Nikon]

10. Soon you'll be able to buy all of them

[Major Nikon]

11. Fake news!

[procon]

13. Trump will blame Obama.

He only claims responsibility for good news, anything else is someone elses fault.