Dow, S&P 500, and Nasdaq Enter Correction Territory

[SBR Drew]

The selloff was broad on Thursday morning: All 11 S&P 500 sectors were down sharply, led by energy’s 4.9% plummet and technology’s 4.3% drop. Of the 30 Dow components, 27 were down on Thursday morning. The price of oil tumbled 4.7%, extending several days of losses. The Cboe VIX—a measure of market volatility—jumped 29% to 35.6.
Gold rose 0.7% and the yield on the 10-year U.S. Treasury note fell to just 1.252% as investors fled to the safe-haven assets.

[hehfest]

Bridgewater has a 1.5 billion put on the market downturn happening by MARCH. If you have money in the market and knew about that weeks ago, don't you think you'd want to pull out?

https://www.wsj.com/articles/bridgewater-bets-big-on-market-drop-1157441d8601

[SBR Drew]

Good post...

Bridgewater’s Ray Dalio said he has no idea what the extent of the coronavirus will be, but for now he believes the best investment strategy is to diversify across geographic locations, asset class and currencies to protect against the unknowns.

“Terrible, unimaginable things could happen anywhere. What we don’t know is much greater than what we do know,” wrote Dalio in a note Jan. 28. The hedge fund investor said Bridgewater studied past pandemics to put the latest coronavirus in perspective and expects to do more homework on the topic.
Dalio, founder of Bridgewater Associates, said he has no knowledge about the economic or market impacts from the virus, but Bridgewater does know pandemics have happened in the past and have had major impacts.
“Generally speaking these once-in-a-lifetime big bad things initially are under-worried about and continue to progress until they become over-worried about, until the fundamentals for the reversal happen,” meaning the virus switches from accelerating to decelerating, he wrote.
In the case of SARS, the Hong Kong stock market was affected by it and reversed when the number of cases peaked, and then started to decline. “This is all logical and would be the type of market action we would expect if the coronavirus crisis remains concentrated in China,” he noted. He would expect the greater Chinese and Hong Kong markets to be impacted more than world markets and the impact could reverse as the number of new cases starts to fall.


Bridgewater also looked at the H1N1, or swine flu, virus in 2009 and 2010. With this virus and SARS, the markets acted in a risk-off way, responding to falling growth and the flight to quality. Stocks fell, while gold and bond prices went higher, but these market moves faded and markets could have been responding instead to policy and economic developments that weren’t related to the virus. H1N1 also coincided with the beginning of the financial crisis.
The deadliest pandemic in modern history was the 1918 outbreak of the Spanish flu, which coincided with World War I. The war itself contributed to the outbreak, which infected 500 million people and killed 50 million. The peak of the disease came at the end of the war.

[cincinnatikid513]

<a href="https://ibb.co/GWjtwNr"><img src="https://i.ibb.co/McLGTQJ/Screenshot-2020-02-27-12-46-49.png" alt="Screenshot-2020-02-27-12-46-49" border="0"></a>

these guys doing well,today

[SBR Drew]

US stocks faced another sharp selloff on Thursday as worries about coronavirus mounted, with the three main indexes dragged into correction territory and on track for their worst week since the financial crisis.

The Dow fell up to 960 points Thursday before bouncing back a bit and briefly re-emerging from correction territory. The index has fallen more than 10% below its most-recent peak, putting it in correction, and was down 700 points, or 2.6%, mid-afternoon.

[MinnesotaFats]

They're all going to miss earnings

Market was overbought to begin with as there was no other place for foreign investors to go

As EPS decline, stock price must as well. Can't have consumer stocks trading at 40xs earnings

If you are long term....buy on the slide here

[Sanity Check]

Dow, S&P 500, and Nasdaq Enter Correction Territory

Using the term "correction" to describe this and having people believe that.

Shows how many know absolutely nothing about investing and stock markets.

Market was overbought to begin with as there was no other place for foreign investors to go

Foreign investors weren't buying stocks.

It was the federal reserve.

[hostile takeover]

I moved my 401 into a low interest fund 2 weeks ago as a just in case.

Not really concerned about the coronavirus itself. More concerned about how the left will glorify it and everything else in an attempt to destroy the economy before November.

[BrickJames]

Sold everything I had on Monday.

Very happy.

[hehfest]

Sold everything I had on Monday.

Very happy.

Can I get some sort of fear closing costs commission due to my constants barrage of scare mongering in many threads about this virus including the official China virus thread?

[Okieirish]

I sold a bunch of mutual funds last Friday. That could not have been timed much better ! Riding NVAX from $6.96. Now trading over $13 in AH !

[bitcoinLuke]

Thanks Trump