Trump says markets are going to be 'just fine' as stocks crater amid coronavirus worry

[sabra]

Source: CNBC

President Donald Trump said that markets will be “just fine” Thursday, as stocks sold off in yet another dramatic session fueled by worries over the coronavirus outbreak and the administration’s response to it.

Futures started selling off Wednesday night during Trump’s address to the nation from the Oval Office, in which he labeled the coronavirus as a “foreign virus” and instituted a ban on foreign individuals traveling from 26 European countries into the U.S. for 30 days. Trading was halted briefly Thursday morning as the market plummet triggered a “circuit breaker.” The Dow Jones Industrial Average slid more than 2,000 points.

While Trump, who was meeting with Irish leader Leo Vardakar, attempted to reassure the country that markets would recover from the impact of the virus, lawmakers on Capitol Hill signaled that a partisan fight was coming over a new emergency aid package. The Democrats’ latest bill, unveiled to the public Wednesday night, is “unworkable” in its current form, House Minority Leader Kevin McCarthy said.

Read more: https://www.cnbc.com/2020/03/12/trump-says-markets-will-be-fine-as-stocks-crater-on-coronavirus-worry.html

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[mahatmakanejeeves]

1. "In the long run, we're all dead."

John Maynard Keynes

{snip}

• But this long run is a misleading guide to current affairs. In the long run we are all dead. Economists set themselves too easy, too useless a task, if in tempestuous seasons they can only tell us, that when the storm is long past, the ocean is flat again.

• A Tract on Monetary Reform (1923), Ch. 3, p. 80

[Aquaria]

9. I was trying to be nice

When I predicted on another thread that “his” stock market gains since 20 Jan 2017 would get wiped out by the 27th.

If it keeps bottoming out at this rate, that may happen tomorrow.

This is one ugly market right now, and neither the S&P nor NASDAQ are looking any better. They’re both in bear territory now.

We probably won’t bottom out at the 7900 Obama got handed in 2009...but with this idiot’s ongoing incompetence at, well, everything, he could make that happen in a month or two.

I think if the Dow gets under 18K, NASDAQ below 6800 and S&P below 1900 or so, the oligarchs will decide they’ve seen enough, and tell McConnell to convict on the next impeachment articles that Pelosi can greenlight against the Tangerine Twitler. She’ll know when there’s enough blood in the water to go there again. It’s not like she’s lacking in avenues to pursue more charges against this colossal waste of oxygen.

This shit show has gone on long enough.

[Botany]

2. The wisdom of Trump

“When you have 15 people, and the 15 within a couple of days is going to be down to close to zero,”
he said, “that’s a pretty good job we’ve done.”

[yardwork]

3. Nobody is in charge. Nobody is driving the train.

[Aquaria]

11. The vulture capitalist oligarchs

Are in charge. Until the markets start hurting them more than helping, they’ll keep putting up with it.

Once they start feeling the sting, too, then they’ll pull the plug on King Mierdas of the Tiny Extremities.

[yaesu]

4. I just seen a Jim Cramer headline saying the White House was working on a YUGE package

that nut job is getting desperate as his pump & dump biz is going down the drain.

[Aquaria]

10. Cramer is a schmendrik

And a lunatic.

He belongs next to Kudlow in the discard bin.

[Chakaconcarne]

5. and the DOW drops another 500 points

STFU already...

[Stuart G]

6. Trump said this at about 11AM ET..Yes, he said did say this today.

[OnlinePoker]

7. Average 3 month daily volume on NYSE is 318 million

After only 2 1/2 hours today and with 4 hours still to go, volume is already 332 million. Biggest losers so far year to date are Dow Chemical, down 57% and Boeing, down 50%.

[olddad65]

8. and that fucking baffoon never lies.

[djacq]

12. Dow Jones was at 19k when Obama left Office.

Almost there.

[Dem forever]

13. Kudlow

What a tool . Has he ever been right about any thing of importance . Never. The virus is controlled air tight. Buy on the dip last week. The 2008 collapse that he said wasn’t going to happen. Economy was too strong he said.

[smb]

14. My Next Piece Is Called: WHILE AMERICA BURNS nt

[SWBTATTReg]

15. No one believes you ... after all, you are the king of liars. NT