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U.S. stock market plunges to worst day in more than three decades

16 Comments
By STAN CHOE and DAMIAN J. TROISE

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U.S. stock market plunges to worst day in more than three decades

This is indeed good news. Lets hope it plunges itself out of existence. No more money games and corporate greed!

-8 ( +4 / -12 )

@BertieWooster

This is indeed good news.

I agree that it's good news. But for a different reason than you. There were several key investments I waited on before joining and because of that I missed a huge surge. With this, I can now buy into several investments at a discount.

under the State of Emergency has the power to cancel those elections

Its not that easy to cancel the election. In order to do that, it must be a a conclusive decision by the president and Congress. Then the states also have to decide whether they accept it or not after its passed. Delaying a election literally requires the Entire US to agree.

1 ( +2 / -1 )

Good.

If only I had spare cash to throw at it once the chaos clears.

2 ( +2 / -0 )

There is speculation that the stock market can bounce back, once the economy bounces back. But can we assume that the economy will just bounce back, in the short term? There is no guarantee. Massive tax cuts have traditionally been touted as a tool to stimulate the economy, but Trump already cut the taxes, almost exclusively for 1 percenters, in order to keep the economic boom going. Federal deficit spending in the US is at an all-time high, without stimulus spending being part of the package. In other words, there was nothing gained by the Trump tax cuts, and the consequent rise in government debt, except to make the 1 percenters even richer, and the ability of this government to borrow trillions more is now in doubt.

The reality is that Republicans will sign a blank check for deficit stimulus spending if a Republican is in the White House, but will shut down the government, in righteous indignation, for partisan reasons, if a Democratic President seeks to right the economy. We witnessed this behavior during the Bush and Obama presidencies. Bush could borrow all he wanted, but Obama was held to a different standard. Such is the nature of the dysfunction in the Republican Party today.

1 ( +1 / -0 )

Yes Reckless. I think we might be. There will be a lot of people closing their wallets and a lot of businesses going belly up. Houses and other assets will be next to fall. My pic - Dow will be at 10,000 in 6 months. Don't think you can expect a bounce PerformingMonkey until they have a vaccine.

0 ( +0 / -0 )

Democrats last year: We need a recession to stop Trump!

Coronavirus: Hold my beer.

-4 ( +3 / -7 )

When people don’t have money to buy food then what will happen?

When food deliveries stop because staff aren’t being paid, then what happens?

News is out that Americans are panic buying guns.

America could see mass crime and anarchy on a mass scale!

-2 ( +1 / -3 )

One major problem which suggests that the stock market isn't going back up anytime soon is that a LOT of companies which could have withstood shutdowns to control the virus for a few weeks probably won't be able to survive if it takes a few months instead.

In the past week its become clear that this isn't going to go away by the end of this month or next and these countermeasures are likely to remain in place for a few months at least, which is going to cause exponentially more economic damage than the rosier scenarios being thrown around just a few days ago.

The airline industry is one example. They simply can't afford to have almost all their planes idled for more than a few weeks. Every company in that industry worldwide is going to go bankrupt without massive government bailouts by about June or so. And when they go, so does the aerospace industry.

And that is just one sector, there are dozens more similarily affected.

If you've got cash now is NOT the time to be buying stocks. We have a ways to go until we hit bottom.

1 ( +3 / -2 )

When staying alive is more important than money then the human race will have definitely evolved...

-1 ( +0 / -1 )

@JJ Jetplane

Careful what you wish for. As others have already pointed out, the crash is a sign of some bigger underlying issues. A global recession is likely. A global depression is possible. It could be a long time before you see any decent gains form your new investments. And there could be a whole lot of pain in between now and then.

-1 ( +0 / -1 )

Trump: U.S. 'May Be' Headed Toward a Recession

https://www.yahoo.com/news/trump-u-may-headed-toward-224325453.html

Soon he will try to put the blame on President Obama and Hillary's emails!

-2 ( +0 / -2 )

 the crash is a sign of some bigger underlying issues.

No it isn't. It's all down to the Chinese virus. US corporate earnings were near record highs in the lead-up to the Wuhan revelations, on the back of the US's longest economic expansion in history. The fundamentals were extremely good until this outlier of outliers risk erupted.

0 ( +0 / -0 )

@JeffLee

That is laughable. It was the biggest US bubble in history. Covid caused it to pop for sure, but if it wasn't covid, something else would have popped it eventually.

0 ( +0 / -0 )

The American economy will take a big hit and so will Trump's election

The world's economies are going to take a big hit, but the U.S. economy is strong enough to bounce back fast.

Trump will be re-elected unless he gets us into an unnecessary war, which is unlikely.

What's the only realistic alternative? Hapless Biden? Crazy Bernie?

0 ( +0 / -0 )

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