COVID-19 INFORMATION What you need to know about the coronavirus if you are living in Japan or planning a visit.
business

Stocks rebound from big losses on hope for U.S. economic aid

25 Comments
By STAN CHOE and ALEX VEIGA

The requested article has expired, and is no longer available. Any related articles, and user comments are shown below.

© Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

©2020 GPlusMedia Inc.


25 Comments
Login to comment

I listened to National Public Radio (NPR) this morning in the car here in the US, and they were downright giddy to report that yesterday's slide of 2,000 points on the Dow Jones might adversely affect Trump's chances of reelection.

The news media want a recession because they think it will get rid of their bogeyman.

-6 ( +4 / -10 )

As long as the money is safe, it doesn't matter a damn about the people.

6 ( +8 / -2 )

For most people, the new coronavirus causes only mild or moderate symptoms, such as fever and cough.

Unfortunately too many uninformed people, some dumb enough to believe you'll get the coronavirus if you drink Corona beer, panic and buy up all the damn toilet and tissue paper.

-1 ( +2 / -3 )

the U.S. government will try to cushion the economic pain from the coronavirus.

One more example, as if any more were needed, that the US economy is a mixed economy, one made up of elements of capitalism and elements of socialism. Knowing Trump and his fellow Republican's brand of socialism, it has to be assumed their latest intervention in the 'market' will once again be for the benefit of their backers, the US's richest and their corporations. In other words, more socialism/welfare for the 'elite'. Free market capitalism? LOL & SMH

3 ( +4 / -1 )

The news media want a recession because they think it will get rid of their bogeyman.

No one wants a recession.

Many of us will be happy if the inevitable recession due to poor leadership is what brings down Trump though. These aren't mutually exclusive feelings.

I mean, we could also re-phrase the sentiment above as:

The right-winters are panicking about a recession because they know it will expose their leader's incompetence.

1 ( +6 / -5 )

No one wants a recession.

Actually, I'll re-phrase that.

Very few people out there want a recession.

-1 ( +3 / -4 )

It's just the calm before the storm. Buying volume was much lighter Tuesday than the selling volume on Monday. Best to be in cash or gold.

-4 ( +1 / -5 )

In the meantime, investors want to see a big, coordinated response from governments and central banks

Aren't these the same people who prattle on endlessly about the need to deregulation and tax cuts? Oh, but since now they are starting to feel the pain personally, they suddenly feel the need for big government. Socialism for me, not for thee.

5 ( +5 / -0 )

Knowing Trump and his fellow Republican's brand of socialism, it has to be assumed their latest intervention in the 'market' will once again be for the benefit of their backers, the US's richest and their corporations. 

Sure, even though the article mentioned cuts in payroll taxes.

-4 ( +0 / -4 )

No one wants a recession.

I don't know about that. Bill Maher, considered a demigod by many lefties and who share his opinions, said on his tv show that he hopes the economy would go down just to get Trump out of office.

-3 ( +1 / -4 )

With the US automatic stock trade halting system traders have figured out they can't short because of the limiter and have used that as a basis to purchase at the "lowest price".

0 ( +0 / -0 )

Sad thing is the average joe blow who is a Trump supporter believes that the stock market going up is going to make his life better, but he still pays his taxes, struggles to feed his family and worries about his future.

But he wont blame Trump for all his problems, the man is his savior!

3 ( +3 / -0 )

Americans eat well and have big and strong bodies are not very nervous about the coronavirus. I like their strong hearts.

0 ( +2 / -2 )

 and they were downright giddy to report that yesterday's slide of 2,000 points on the Dow Jones might adversely affect Trump's chances of reelection.

The news media want a recession because they think it will get rid of their bogeyman.

Yes I have noticed that as well. The thing is, if Trump loses, their stock market and all the job gains #s will drop dramatically, who will they blame next?

Seems the virus is waning in China; hopefully it will run its course, stocks will make a huge rebound due to released spending, then its a new bogeyman to move on to.

0 ( +2 / -2 )

As long as the money is safe, it doesn't matter a damn about the people.

The biggest investors include state pension funds and other social security programs.

1 ( +1 / -0 )

i hate Trump , I dont want a recession, recession isn't good for anybody,

but when you give a $trillion tax cut to the rich , the stock market had basically turned into a bubble and POP

20% drop in the DOW over $2 trillion wiped from the markets in 3 weeks, if it wasn't the coronavirus or Putin crashing the price of oil it would have been something else, seriously what did people think that the DOW was going to 40000 and beyond!? lol

Now you've got Trump preparing to hand out more tax cuts to salaries, the banks are lining up for another round of taxpayer funded bailouts and hes not even finished his 1st term yet. People criticized Obama's spending for the 2008 GFC seems like Trumps finding himself in the same position. Trumps expected to exceed Obama's 1st term debt. Yet you still had people that voted for a multiple bankruptcy businessman because they somehow though he could run a country and was fiscally responsible!!?

More facts about fiscal responsibility, the last 70yrs there have been 11 recessions, 49 recessionary quarters, 41 of which were under a Republican president, will Trump be able to avoid adding to this total!?

but hey on the plus side the price of gas is cheap!? even though the markets are raping your 401K

0 ( +1 / -1 )

The biggest investors include state pension funds and other social security programs.

Trump: see I gave Americans the cheapest gas ever.

Markets; have your cheap gas Ill take your 401K instead

0 ( +1 / -1 )

Americans eat well and have big and strong bodies are not very nervous about the coronavirus. I like their strong hearts.

Americans are one of the most obese nations on earth they dont have strong hearts since heart disease is the biggest killer of Americans. Americans average life span is actually lower than almost all 1st world countries and far lower than Japans. Its fair to say that Japanese have stronger hearts

1 ( +2 / -1 )

The thing is, if Trump loses, their stock market and all the job gains #s will drop dramatically, who will they blame next?

6000 point drop in 3 weeks isnt dramatic enough for you!?

more false facts ,no proof whatsoever thatll happen, Republicans lost in 2008 yet Obama grew the economy for 8yrs straight, the DOW rose 230% and he created more jobs in his last 4yrs than Trump created in his 1st 4yrs as president, more fear mongering Rethuglicons

0 ( +1 / -1 )

But he wont blame Trump for all his problems, the man is his savior!

when the going gets tough, the dumb double down on the same losing horse.

1 ( +2 / -1 )

Unfortunately too many uninformed people, some dumb enough to believe you'll get the coronavirus if you drink Corona beer, panic and buy up all the damn toilet and tissue paper.

there are even some people out there that think the coronavirus is a conspiracy made up by the deep state dems, to keep Trump from having his rallies. Hold on Trump hasnt organised any rallies recently, this cant be right, but hey if theyre dumb enough to test their theory then go right ahead rally away.

1 ( +2 / -1 )

socialism

"Trump said his administration would be asking Congress to cut payroll taxes and pass other quick measures"

Where I came from, any tax cut is not something that is associated with socialism. Socialism involves hiking taxes rather than cutting them, so that the government has more of everyone else's money to spend on what they, geniuses in central government, think fit.

Governments spending money they don't have, is not something I associate with capitalism or socialism, but simply bad policy! It's a rare thing when any politician in a large democratic nation manages to actually balance tax revenues with expenditures... A flaw of the democratic process in many places, sadly.

Tax cuts aside, what other "quick measures" Trump and co have in mind, who knows.

If this economic turmoil does turn out to be relatively brief, which I think it will, it does make me think there is a case for doing something to tide over small businesses. Letting them all go bankrupt and then the coronavirus being contained would leave us with a recession. I don't know if short term measures to tide over businesses that would soon again be profitable, is a bad thing, but I don't know if that's socialism nor capitalism either. But it seems like a pragmatic thing to do, rather than allow for an unnecessarily severe recession.

1 ( +2 / -1 )

I dont blame Trump and dont think american workers blame him either. He is the savior of the US economy and culture. I think the stocks rise because of confidence in his measure to help. I see posts above criticizing him and some supporting him. thanks for this article it is very timely coverage.

0 ( +0 / -0 )

I was downvoted but the markets just proved me right. All of Tuesday’s gains taken out on Wednesday with huge volume trading in both the Dow and Nasdaq.

Only way to prevent further market carbons to ban short trades.

0 ( +0 / -0 )

That should be carnage not carbons!

0 ( +0 / -0 )

Login to leave a comment

Facebook users

Use your Facebook account to login or register with JapanToday. By doing so, you will also receive an email inviting you to receive our news alerts.

Facebook Connect

Login with your JapanToday account

User registration

Articles, Offers & Useful Resources

A mix of what's trending on our other sites