Dow futures drop 900 points as Trump speech disappoints investors

[Mrs. Overall]

Source: CNBC

Futures contracts tied to the major U.S. stock indexes fell on Wednesday night after an address from President Donald Trump failed to quell concerns over the possible economic slowdown from the coronavirus.

The move comes after the Dow Jones Industrial Average ended its historic 11-year bull market run by closing in a bear market.

Dow futures were down 900 points, indicating a loss of about 860 points at Thursday’s open. S&P 500 and Nasdaq 100 futures were also sharply lower.

In his address, Trump announced travel from Europe will be suspended for 30 says as part of the government’s response to the coronavirus. Trump also said the administration would provide financial relief for workers who are ill, caring for other due to the virus or are quarantined.

Read more: https://www.cnbc.com/2020/03/11/futures-are-steady-wednesday-night-after-dow-closes-in-bear-market-traders-await-trump.html

[yaesu]

1. Oh, its going to be a lot worse in the morning, I think it really hit home when Tom Hanks announced

that he & is wife are sick with it that is what Americans understand, this is not a movie, the economic & security shit is going to hit the fan. I bet the DOW will breeze through its first shutdown trigger in a matter of minutes.

[Greywing]

4. I think you're right about the Dow Jones ... especially now that

NBA has suspended season. I suspect NCAA will make a similar announcement soon - if they don't they would be foolish.

[yaesu]

5. It took Tom Hanks being diagnosed and basketball being canceled for Americans to start taking notice

[EarthFirst]

7. Someone mentioned this in GD this past weekend...

That it would take a high profile celebrity for the general public to begin taking heed of the potential severity of the situation we’re facing.

People are odd.

[durablend]

8. Some people still aren't buying it

"Big media hoax"

[Traildogbob]

11. Why????

The receipient of the Presidential Medal of Freedom just hours ago was ranting about the hoax while Alex Jones is selling toothpaste that cures the virus, one day after his DWI. Fox and right wing media need charged with manslaughter. The NBA suspension happens after a game was delayed tonight because a "player" was diagnosed. Hum, only after a player, weer they not concerned about fans prior?

[yaesu]

9. Hanks has diabetes and is at that age so I hope he keeps on keeping on. nt

[Ghost Dog]

28. So many people just have no time to pay attention,

are too busy just trying to make ends meet each day, unable to dedicate hours each day to researching and absorbing and reflecting on and sharing information like many of us do around here.

We are so privileged, relatively.

[BigmanPigman]

14. Like Rock Hudson and AIDS.

[yaesu]

15. yep, its not real until Hollywood or sports is connected. nt

[BigmanPigman]

16. So much for the priorities of Americans.

Sad but true.

[Bernardo de La Paz]

2. Did tRump say he was a great businessman & earned degress in Economics & MBA? Can we believe him?

[yaesu]

6. Like 99% of republicans you cannot believe one word he says. nt

[Aquaria]

26. The idiot never got an MBA.

He has a bachelor’s from Wharton undergrad. Not even his daddy’s money or his connections would get Wharton to admit him into their esteemed grad school.

Playing the “I went to Wharton” card without clarifying which Wharton is yet another of his sleazeball con games to polish his turd so that the rubes think he’s better-educated than he ever could be.

[bucolic_frolic]

3. Yikes! Kudlow will be disappointed!

Yet Trump is doing exactly what they tell him to do: Nothing!

[PatrickforO]

10. Gosh, my heart is really bleeding for these investors.

And yeah, I know many of us have 401Ks or other stock market accounts, but as I've said many times, Wall Street is NOT Main Street.

If the Republicans come through and help the Democrats pass these financial relief provisions, it will help. Especially those poor people who have jobs where they have to go there, be there, and serve customers.

[progree]

12. S&P 500 futures: 2614 (10:28 pm ET). Bear market threshold is 2709. Eeepers

S&P 500 managed to close at 2741, above the bear market threshold level (2709), thus not joining the Dow in a bear market close. So the 11 year bull market in the S&P 500 continues for now. But tomorrow may tell a different tale.

https://money.cnn.com/data/premarket/

[Politicub]

13. The halting of flights from Europe was a shock

I don't think anyone saw that coming.

I remember when flights were grounded for a week after 9/11 and how much havoc that caused. Imagine how much damage a one-month prohibition on flights arriving from Europe will do.

[rpannier]

17. il douche has a plan

Give money to the airline execs and cut services to the poor

[IronLionZion]

18. I wish Obama were president right now

the next best option is Biden. Trump clearly can't handle this and investors are finally accepting that.

[Politicub]

21. Obama would wisely place Biden in charge of the effort.

I wish Obama were president now, too.

[C Moon]

19. Trump was saying, "America will get through this." Yeah, with NO help from you. God damed a-hole!!

[duforsure]

20. Investors know he's a serial liar

Full of shxt, and likely using , giving them zero confidence, and proving he's no leader now in the time of need. Its going to get really , really bad fast , a lot of it because of trump, and the rest because of trump and the GOP, who again have put this country in this position. Voters will not be kind to trump and the GOP this Nov. .

[Maeve]

22. Just before the opening bell, DOW futures down 1231--5.22%

Buckle up, folks

[Maxheader]

23. Of course! Money talks..

and bs'ers like cheetos. Don't...

[SunSeeker]

24. But her emails...

Link to tweet

[riversedge]

27. If only. sigh

[riversedge]

25. and the next day--today it crashed and burned

[mahatmakanejeeves]

29. Trump on market reaction to Coronavirus response: "The stock market is still much higher than

OneMileContainmentHat Retweeted

Trump on market reaction to Coronavirus response: "The stock market is still much higher than when I got here."

Link to tweet

[muriel_volestrangler]

30. The German DAX closed 12.6% down on the day

https://www.bbc.co.uk/news/topics/ckwlwwg6507t/dax

It's not quite as low as it briefly was in February 2016, but damn close. It's 33% below its February 2020 high.