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Dow plunges as much as 2,000 points,
oil crashes as price war erupts and
coronavirus spreads

Original Article

Posted By: LittleHoodedMonk, 3/9/2020 10:13:01 AM

U.S. equity markets were sharply lower Monday morning after an oil price war broke out between Saudi Arabia and Russia and the new coronavirus showed signs of spreading. The Dow Jones Industrial Average was down by as many as 2,046 points, or 7.9 percent, in the opening minutes of trading while the S&P 500 and Nasdaq Composite were lower by 7.4 percent and 7.3 percent, respectively. Trading, which was already halted for 15 minutes, will see another stoppage if the S&P 500 trades down 13 percent. The steep slide has caused the New York Federal Reserve to increase its daily cash injections into the banking system to $150 billion from $100 billion.


Stay tuned to see who the dRATS infanticide party blames...

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Reply 1 - Posted by: NorthernDog 3/9/2020 10:25:00 AM (No. 341141)
Anyone starting to think we are being manipulated into a recession? This virus has affected less than 600 people in the US out of a population of 330,000,000.
43 people like this.

Reply 2 - Posted by: JunkYardDog 3/9/2020 10:31:54 AM (No. 341146)
What a joke. This is an over-reaction caused by huge program-trades being activated by price drops. There should be a look into updating the speed bumps and market pauses on huge moves in one day. Ultimately, this is a buying opportunity, people. Flu season is almost over and there goes COVID-19 riding off into the sunset.
25 people like this.

Reply 3 - Posted by: Dodge Boy 3/9/2020 10:41:47 AM (No. 341161)
I have commented here before that Obie and the globalists would covertly try in 2020 to crash the stock markets and create panic to damage our economy and try to damage President Trump. Could this be it.
24 people like this.

Reply 4 - Posted by: JackBurton 3/9/2020 10:43:18 AM (No. 341163)
The Russians decided to have an oil war with the Saudis... ...or us. Maybe the Sauds were just an excuse. And this is an election theft attempt.
15 people like this.

Reply 5 - Posted by: Safari Man 3/9/2020 10:52:53 AM (No. 341174)
#3 I've been saying that for a year now. In November, I liquidated much of my brokerage account. Unfortunately, I still got caught and hurt pretty badly in this sell off simply because I thought it was too early for the planned market crash -- thought it would come closer to the election. But I guess this opportunity presented itself. If everything recovers, they will find another reason to crash the market. For me, until the election, cash is king.
6 people like this.

Reply 6 - Posted by: Muguy 3/9/2020 11:19:53 AM (No. 341202)
The sky is falling, the sky is falling!!!! The robust economic news must be made "intolerable" for the socialists to have a chance-- THEY RAN THIS SAME GAME in 2008 to get Nobama elected, and the GOP/Rino establishment picked McPain to lose to protect their "family" of corrupted old Rinos, and then Mittens running against RACISM and Trayvon and barely lifting a finger to go against Nobama. Media manipulation and hysteria to influence the people--turn off your TVs and carefully choose whom you trust to tell you the unvarnished TRUTH. This Corona virus kerfuffle is NOTHING compared to Nobama's mishandled H1N1 epidemic and the country did not tank over that one!
15 people like this.

Reply 7 - Posted by: TrueBlueWfan 3/9/2020 11:37:32 AM (No. 341214)
Is this how the Russians are supposedly helping President Trump? Puhleeze! The left is manipulating the stock market and the chicken littles in the stock trading business are all too happy to fall for the first negative thing, (real or imagined) that could maybe, possibly, somehow, someday effect them.
6 people like this.

Reply 8 - Posted by: judy 3/9/2020 11:42:28 AM (No. 341220)
The fake media created this mess. I turned Fox off 3 times today. Maria repeated Governor Cuomo's words, how disgusting. People should be worried about Obama still running DC. The country is going back to the Obama years in less than a week.
10 people like this.

Reply 9 - Posted by: DVC 3/9/2020 11:42:45 AM (No. 341221)
Buying opportunity. Panicky fools and computerized trading. Computerized trading is optimized to work on normal trading days. On the rare sudden panic days, the stupid machines amplify the down tendency, get into a self-actualized feedback loop, driving the market down farther. Idiotic. On the plus side, gas was $1.97 locally at one station yesterday.
7 people like this.

Reply 10 - Posted by: spacer 3/9/2020 11:46:01 AM (No. 341226)
I'm sure Dobbs will throw more gas on this with his insane rants about a PANDEMIC. His ego has finally ended my ever watching his program again.
11 people like this.

Reply 11 - Posted by: LC Chihuahua 3/9/2020 12:35:58 PM (No. 341272)
The Dow downturn has little to do with the price of oil and coronavirus. The Dow is being manipulated. Why? Its an election year.
5 people like this.

Reply 12 - Posted by: DCGIRL 3/9/2020 12:44:51 PM (No. 341285)
Notice what states declared a state of emergency over the coronavirus. Here they are: Pennsylvania, California, Washington, New York, and Maryland. Notice something they all have in common, they all have democrat governors with the exception of Maryland. Hogan (MD gov) is a RINO and I consider him a democrat. What is really odd, why didn't they declare a state of emergency with the recent flu or virus......
7 people like this.

Reply 13 - Posted by: mean Gene 3/9/2020 1:10:08 PM (No. 341308)
The Saudis and Russians economies are too dependent on oil. As demand falls they fight. Now the price to so low even frackers can't make a profit. Ripples from this virus panic as people stay home.
2 people like this.

Reply 14 - Posted by: DVC 3/9/2020 1:30:19 PM (No. 341332)
Saudis and the Rooskies having a spat. Each needs large cash flows, and has essentially only oil and gas to earn money for the whole country. So, as prices per barrel drop, they increase pumping to keep the net cash flow up, and this overproduction helps lower the prices further. Now in a fight to see who can withstand the lowest price. Good for consumers, good for businesses other than the oil patch, but not so good for US oil production folks. Will winnow out the weak players, as is often done in that business. Some US suppliers will turn down their taps, produce less, wait this out. No long term problems, just a fight amongst a couple of desperate oil producing countries. Good to see the Rooskies being stressed. Putin deserves whatever hell comes his way, always.
3 people like this.

Reply 15 - Posted by: DVC 3/9/2020 1:33:35 PM (No. 341336)
#5, the opposite of what I do, but people do what they think is best. Good luck, hope you make it work. In every market downturn in the last 30 years, I have been back even in less than 6 months and well ahead in 12 months by just holding pat on a set of sensible, balanced investments. Not changing now. Family and friends who got out suffered far larger long term financial losses.
4 people like this.

Reply 16 - Posted by: anniebc 3/9/2020 1:44:40 PM (No. 341343)
So leftists, is this obama's handiwork on the market after ten years? No, you say; it's Trump's fault. Got it.
3 people like this.

Reply 17 - Posted by: judy 3/9/2020 1:53:22 PM (No. 341349)
I quit watching 2 shows I loved... Maria's & Dobbs ...they both are completely unhinged over this media virus. This is what you get when you allow dems to run the non media.
5 people like this.

Reply 18 - Posted by: judy 3/9/2020 1:54:48 PM (No. 341351)
How many apologies will we receive next week when the market comes back???
4 people like this.

Reply 19 - Posted by: Rumblehog 3/9/2020 8:42:52 PM (No. 341601)
Quoting the Oracle of Omaha, "The best time to sell a good stock is never."
0 people like this.

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