Dow plunges 10% amid coronavirus fears for its worst day since the 1987 market crash
Source: CNBC
Stocks plummeted once again on Thursday after President Donald Trump and the Federal Reserve failed to quell concerns over the possible economic slowdown stemming from the coronavirus, leading to historic moves in U.S. markets.
The Dow Jones Industrial Average closed 2,352 points lower, or 10%. The index had its worst drop since the 1987 Black Monday market crash, when it collapsed by more than 22%.The S&P 500 plummeted 9.5%, joining the Dow in a bear market. The S&P 500 also hat its worst day since 1987. The Nasdaq Composite closed 9.4% lower.
Read more: https://www.cnbc.com/2020/03/11/futures-are-steady-wednesday-night-after-dow-closes-in-bear-market-traders-await-trump.html
exboyfil
(17,863 posts)Making America Great Again. Returning to the halcyon days of 1929.
doc03
(35,348 posts)down bigly.
doc03
(35,348 posts)Today should make it about 35000. Trump shut the f---
up.
riversedge
(70,242 posts)are in deep trouble. One wished he had kept his money in his mattress. He is spiting mad.
doc03
(35,348 posts)back in 2009 and it tripled the last 10 years. Every time a Republican gets in the Whitehouse that happens. A Democrat comes in and cleans up the mess.
yaesu
(8,020 posts)threat this virus poses to the economy. I think this is just the beginning of what could be a 50% market haircut. And like the movie It will hit fast & furious but the recovery after, bear markets recoveries especially can be very slow.
SergeStorms
(19,204 posts)It'll come, you know it will. Then what?
yaesu
(8,020 posts)just like this.
SergeStorms
(19,204 posts)Trump is like the anti-Robin Hood. He took everything from the the government, the people's government, and gave it to the rich.
What a worthless sack of rancid pus.
IronLionZion
(45,457 posts)and had enough of Trump's BS
Totally Tunsie
(10,885 posts)Chump has worst numbers since Black Monday! He has the biggest drops, the best drops; drops like you've never seen before!
Congratulations, Chumpie - You win again! (and the rest of us lose, as usual)
denem
(11,045 posts)riversedge
(70,242 posts)keithbvadu2
(36,829 posts)Don't forget... The Trump Economy.
doc03
(35,348 posts)now with a crash there are no tools to get us out.
keithbvadu2
(36,829 posts)Lonestarblue
(10,011 posts)If Trump had collected a group of experts back in January to address the coronavirus when it was first reported (or was that December?), the market today might have more faith in the government response. What the market decline is saying is that investors and money managers have zero faith in Trump and his ability to manage this crisis. Ebola could have been so much worse, but Obama took quick steps to control it. Trump did nothing.
Why anyone who values a stable economy ever votes for a Republican is beyond me.
Historic NY
(37,451 posts)Even after the FED coughed up a trillion.....
durablend
(7,460 posts)-325
Yeehah
(4,588 posts)this is Obama's fault!!!!