Dow plummets, trading halts amid oil,
coronavirus fears -- Don't panic,
investors. Here's what you need to do
Fox News,
by
Chris Burns
Original Article
Posted By: grace127,
3/9/2020 1:03:23 PM
We don’t know whether coronavirus will become a full-blown pandemic in the United States, just like we don’t know whether the stock market will go up or down in the next few days or weeks. For instance, investors on the morning of Monday, March 9 woke up to blaring headlines of an oil-price war, and temporary halts to trading on American stock markets due to volatile price declines.
But here’s what you should keep in mind: Over the long term, both the American economy and the stock market have proven incredibly resilient in the face of challenges, from two world wars to 9/11 to the Great Recession.
Reply 1 - Posted by:
DVC 3/9/2020 1:18:25 PM (No. 341312)
My investment strategy does not involve reacting to daily market swings. I absolutely ignore this sort of foolishness, driven by ignorant panic and reinforced by computerized trading routines which are badly written and react in harmful ways to highly variable days.
26 people like this.
Reply 2 - Posted by:
MSUDoc 3/9/2020 1:22:34 PM (No. 341321)
Fox News is just as bad as the rest of the panic-stricken, hysterical screeching media.
25 people like this.
Reply 3 - Posted by:
Lucky5 3/9/2020 1:26:16 PM (No. 341325)
I have been through this at least 4 times in the last 28 years. I found it best to not check my accounts and ignore until the upswing/recovery begins.
Which usually is not that long coming. I did buy a few stocks I wanted for some time last week, and they dropped a tad today. But as an example Walmart hit 108 last week and it is 119. right now.
17 people like this.
Reply 4 - Posted by:
Smart11344 3/9/2020 2:32:56 PM (No. 341382)
I'm too old to play the market. But, young savy buyers can buy now at bargain prices and reap the payoffs.
16 people like this.
Left wing billionaires tanking the market to sink Trumps re-election. That’s all you need to know.
24 people like this.
Reply 6 - Posted by:
ARKfamily 3/9/2020 2:45:40 PM (No. 341402)
So let's see. Democrats or liberals want me to vote for their party because I blame Donald Trump for Coronavirus and Wall Street. So they want me to vote against him because they can manage these things better? Are they nuts? The "tax and spend" party wants me to believe we will be better off with them? Eight years of Obama was enough for me. . .
18 people like this.
Reply 7 - Posted by:
bighambone 3/9/2020 3:17:57 PM (No. 341424)
Sit back and watch as the Russians and Saudis play out their oil price war. In six months the current market downturn will more likely be a distant memory, if you do not panic and sell your positions in the market.
13 people like this.
Reply 8 - Posted by:
skacmar 3/9/2020 3:43:25 PM (No. 341440)
There is sell off due to concern about the unknown, and then there is the current media driven frenzied idiotic market panic. This sell off and market price drop is getting ridiculous! If a company was worth $100.00 per share before the virus, it is most probably worth $100.00 during the virus, and will still be worth $100.00 after the virus. If people are smart, they will be using this market drop as an opportunity to buy stocks in companies that are getting hammered price wise by people who panicked or in industries who were negatively affected (airlines, cruise lines, other travel companies...).
13 people like this.
Reply 9 - Posted by:
skacmar 3/9/2020 3:50:02 PM (No. 341443)
IF THIS WERE NOT A PRESIDENTIAL ELECTION YEAR WITH A PRESIDENT THAT THE MEDIA HATES, I BET THAT NOBODY WOULD HAVE EVER HEARD OF THE CORONA VIRUS! If people would just chill out and look at the number of infected / deceased compared to infected / deceased to the flu or other common illnesses that go around every year, they would not be afraid of anything and would proceed with their lives as usual with little to no disruption. Instead, the media are fixated on a small number of ill / dead and magnify any and all new or bad news while ignoring any improvements or advances in fighting the spread of the illness. Compared to the flu this year, Corona Virus is nothing!
14 people like this.
Reply 10 - Posted by:
chumley 3/9/2020 4:46:04 PM (No. 341474)
I've lost enough in the last two weeks to buy a small house. I have no choice but to stay in or I'll never get my money back. Or I may lose even more. I may never be able to retire now.
Saving for retirement is stupid. I might as well have flushed it down the toilet for the last 40 years. Safe bet someone is making money off this, but it sure isn't me.
4 people like this.
Reply 11 - Posted by:
smcchk 3/9/2020 4:59:33 PM (No. 341481)
Who is willing to tank the global economy to blame it on the President? This is becoming ludicrous.
5 people like this.
Reply 12 - Posted by:
oldmagnolia 3/9/2020 5:09:07 PM (No. 341489)
#2 Fox and Fox Business. Today I opened FB and saw 7 posts trying to promote panic over the virus. They are using it to destroy the market, Trump and the country.
8 people like this.
Reply 13 - Posted by:
DVC 3/9/2020 5:11:55 PM (No. 341491)
Mostly due to the lowering of oil prices.
Who is ACTUALLY hurt? Russia and Iran have the slats knocked out from under their only significant cash flow source. That is good news for the rest of the world.
Lower gas costs. Lower transportation costs, lower airline ticket costs, lower trucking costs, lower costs for farmers in diesel fuel, lower cost for energy across the board is a huge win for all consumers and all businesses, other than those who are producing energy.
And it helps make all that green energy garbage proportionally that much LESS COMPETITIVE, too.
This is a huge win, unloading of part of the burden applied to the world economy in 1973 and 1976 "oil shocks" which were put in place by a cartel to ARTIFICIALLY raise prices.
5 people like this.
Reply 14 - Posted by:
DVC 3/9/2020 5:14:01 PM (No. 341492)
#10, my experience has been precisely the opposite of yours. And I have "lost" much more than a small house in the last few days, but will make back a couple of large houses by the end of the year, no doubt.
15 people like this.
Reply 15 - Posted by:
DVC 3/9/2020 5:56:38 PM (No. 341513)
At Dow close today, it is UP by 33% since just before Trump was elected.
So, anyone who was invested only in the Dow stocks (there are better strategies) will have increased their retirement funds by 1/3 since Trump was elected, even after this "horrible event". And you can just about guarantee that it will be back up before the end of the year so that the gain over Trump's first term will be more like 40 to 50%.
5 people like this.
Reply 16 - Posted by:
varkdriver 3/9/2020 6:01:30 PM (No. 341519)
Keep on buying. Some excellent bargains out there. Stuck in an airport the other day, and Communist News Network is All Corona, All The Time. If they think it will hurt The Donald, they will blare it 24/7 for an entire year. Never mind the fact the number of cases are going DOWN...
6 people like this.
Reply 17 - Posted by:
NYbob 3/9/2020 6:43:40 PM (No. 341552)
The rules completely changed by two events. The Fed writing itself blank checks to feed the printing presses, and the success of fracking. Completely changed the money markets worldwide and the energy markets worldwide. It does not matter if the US is a thousand trillion in debt to itself, it is the cleanest shirt in a filthy pile of other countries who have the same debt issue, but no middle class or the amount of resources and wealth in place like the US has. Energy? We now have our choice of vast gas fields or the old reliable Pittsburgh seam that despite centuries of mining still has hundreds of years worth of coal in the ground.
Look around. Where are the wealthy of the world going to invest? The ONLY reason not to be positive about the US economy is if our country is so inattentive or brainwashed, that we elect one of the idiot tyrant rats running for President. It seems insane to think that could happen given the turnaround in America's fortunes the last 3+ years, but it could happen and be closer than sane people want to believe.
6 people like this.
Reply 18 - Posted by:
Lawsy0 3/9/2020 7:04:11 PM (No. 341560)
Rush Limbaugh taught an Economics 101 class today on his show. Tune in, it is free.
5 people like this.
Reply 19 - Posted by:
franq 3/9/2020 9:09:30 PM (No. 341611)
It's got me jittery and thinking of converting to fixed assets, but as you knowledgeable ones have pointed out, if it dropped that fast, it can come back just as fast. Need to check my balance tomorrow to survey the damage.
1 person likes this.
Reply 20 - Posted by:
DVC 3/9/2020 11:11:44 PM (No. 341655)
#19, don't do a thing. The more you measure and worry about daily moves, the more likely you are to talk yourself into "cutting your losses".
In reality, you will LOCK IN your "losses" which are, at this point, entirely theoretical. Only by seling do you make them i to real losses.
I've been thru this since the 80s, and every time my financial advisor warned me to stand pat, it was the right thing.
If you have reasonable diversity, you'll be OK. If you only have a few individual stocks, hard to predict.
4 people like this.
Reply 21 - Posted by:
Trigger2 3/10/2020 1:53:59 AM (No. 341703)
Since Soros and demonrats control the media, I suspect they're making a lot of money in the stock market by selling short. Do you really think any of them care about you? Not when there's money to be made for themselves which is all the time.
2 people like this.
Reply 22 - Posted by:
franq 3/10/2020 5:58:48 AM (No. 341742)
Thanks for the advice, #20. I truly respect your opinion. I am 2-3 years from retirement, and Lord willing, Trump will be re-elected. That should put things back on an even keel. Just hate to see 20-30% balance drop, then hope it will return. We have a good company match 401k program.
1 person likes this.
Below, you will find ...
Most Recent Articles posted by "grace127"
and
Most Active Articles (last 48 hours)