"Omicron variant is of concern but why the sky is not falling, as far as I can tell. Here's why..."

[orleans]

Link to tweet

here's the link to threadreaderapp for the unrolled thread (btw--he seems like he didn't quite finish tweeting)
https://threadreaderapp.com/thread/1464357734766284802.html

[elleng]

1. MARKETS Dow tumbles 900 points for worst day of year on fears of new Covid variant, S&P 500 drops 2%

[orleans]

2. markets falling but not the sky? i sure hope the damn sky doesn't fall. nt

[Tomconroy]

4. I read it was the worst day since February. I remember when

The Dow dropped 25 percent in one day in October 1987. It recovered before too long. It always does.
Friday was a short trading day after the holiday with fewer people working. That can make a difference.
The Dow did drop 12.4 percent in a week in February. Ho hum.

[Sherman A1]

6. It was a short trading day here

Foreign exchanges dropped like a rock as well and they had full days. It will recover, but my retirement savings took a significant hit yesterday and this past week.

I’m not so ho hum about it.

[Tomconroy]

7. If you're still paying into your accounts a bear market is the

Best thing that can happen to you. Stocks are about the only thing people don't want when they're on sale. It is a bit different if your retired like me. Still, it's best to take things in stride. Peter Lynch said: If you're in you 60s you are still a long term investor.

[Sherman A1]

8. Retired and not paying in anymore

So, big drops do make a difference.

[Tomconroy]

9. They have to last a while before they really do damage.

I know I'll have to rebudget when a real one comes along.

[PortTack]

3. Although he doesn't seem particularly keen on travel restrictions, imagine if President Biden did

Not put travel restrictions in place and this variant did, well what variants do...something unpredictable....

[RandySF]

5. COVID seems adept at self-improvement.

Last edited Sat Nov 27, 2021, 11:58 AM - Edit history (1)

[littlemissmartypants]

10. I would like to add...

After reading the unroll, that the issue of having enough vaccine is not the only factor in the transmission risks of this and other variants.

It is well documented in the African continent especially and in the European continent additionally, that vaccine hesitancy is a major impediment to slowing virus transmission and therefore increases risk of virus mutation.

Vaccine supply is so unwanted and unused in parts of Africa, that stores of the vaccine are due to be destroyed in the coming days and places there are refusing additional stores or vaccine because of the fear and expectation, they will not be used due to widespread vaccine hesitancy.

Vaccines have been touted as our "way out" of this pandemic. However, it is the simpler mitigation factors, like hand washing, social distancing and particularly wearing a mask, that are proving to be the most valuable tools in helping us win this war with the virus.

[Delphinus]

11. Thank you

I brought this point up on a Twitter thread. I can't recall the cities PBS Newshour highlighted a month or so ago, but it was sad to see how many didn't want to partake of the vaccine.

[PoindexterOglethorpe]

12. O!M!G!

A shocking 2.53 %.

Meanwhile, the Dow is up significantly this year, the past two years, the past five years. The worst thing to do is to try to time the market. Staying in for the long term is always the best strategy.

If someone says they lost "everything" or even a large percentage in 2008 I know that the person managed to finally buy when stocks were near their peak, and sell at or close to the bottom.