Homewood Nation

Let's elevate the conversation!

Homewood15208 Post New Entry

Markets Plunge Amid Coronavirus Concerns

Posted by Elwin Green on February 27, 2020 at 6:55 PM

(Since this story is about investing, here's an investment image, showing what has happened recently with a slice of Tesla stock - not even a share, just a slice - purchased in Jan 2018 for $25.00.)

I need to do a piece (or a series?) sometime about what stock market activity means for Homewood, and for neighborhoods like it. I see no obvious connection, so whatever I do would have to suss out non-obvious ones.

Meanwhile, just a quick hit here to note that today, for the second time this week, the Dow Jones Industrial Average lost 1,000+ points. At close, the index rested at 25,762.33, down 1190.95 from yesterday, a 4.43% slump.

The loss was in line with tumbles in other indices. The S&P 500 lost 137.94 points, or 4.43%, for a 2,978.45 close; and Nasdaq fell 414.29, or 4.61%, to land at 8,566.58.

Two things make today's losses especially significant - if not for Homewood specifically, then for the economy and the nation generally.

First, the fact that they exacerbate what has already been a rough week for investors. On Monday, the Dow lost 1,032 points; Tuesday, it shed another 879 points, for the greatest two-day decline ever.

Second, that they came after a White House press conference yesterday evening, in which Trump tried to calm people regarding the spread of coronavirus by saying that the U.S. is "very, very ready" to deal with a possible pandemic- and announced his selection of Vice-President Mike Pence to oversee the federal effort to combat the disease (and perhaps more importantly, the federal messaging about it).

Investors were not persuaded.

Indeed, Goldman Sachs issued a note today stating their view that the ripple effects of coronavirus will torch profit growth for U.S. companies in 2020. Torch as in, reduce to ZERO. They even raise the spectre of recession.

Such a forecast increses the odds that tomorrow will be another down day for the Dow, and for equities in general. But if this week is a wrap, will next week be any better? Or are the markets in the early stages of a long-term slide, just days after the Dow had its highest close ever?

If it turns out to be the latter, that could hurt Trump's re-election chances (assuming that he is the Republican nominee, which I don't expect to be the case). During his entire presidency, he has boasted about the continuing bull market (which began under President Obama). It will be a lot harder to boast if the remainder of his term is a slide toward or into a recession.

Categories: None

Post a Comment


Oops, you forgot something.


The words you entered did not match the given text. Please try again.

Already a member? Sign In


Reply Gurfide
6:52 PM on February 12, 2022 
Agrifr Plaquenil
Reply AAddkch
1:15 PM on March 21, 2022 
Reply moicky
1:12 PM on May 5, 2022 
viagra vs.levitra best place to buy viagra online substitute for viagra
Reply JamesNeP
3:42 PM on May 7, 2022 
url=https://school-of-languages.ru/ says...
??????? ????

url=http://school-of-languages.ru says...

url=http://cse.google.ae/url?q=http://school-of-languages.ru says...
Reply Jamesthard
6:05 AM on May 20, 2022 
url=https://avto-dublikat.ru/ says...
????????? ??????? ?????? ???????

url=https://www.avto-dublikat.ru/ says...

url=https://google.ad/url?q=https://avto-dublikat.ru/ says...

Reply JamesNeP
9:32 AM on May 24, 2022 
url=https://school-of-languages.ru/ says...
?????? ??? ???????????? 5 6 ???

url=https://school-of-languages.ru says...

url=http://www.google.fr/url?q=http://school-of-languages.ru says...
Reply ms-marvelrgmlh
7:33 PM on May 25, 2022 
???? ?????? (??????) ???? ?????? (2021) ???????? ?????? ????????? ???????? ?????? ?????? «???? ??????»
Reply ZadlaryCoepe
12:25 PM on June 2, 2022 
url=http://xn--b1aajaj5aaqsiv3g.xn--p1ai/ says...

url=http://xn--b1aajaj5aaqsiv3g.xn--p1ai/ says...

1ai/ says...

Reply aebbapeq
4:43 AM on June 3, 2022 
erythromycin overdose erythromycin 500mg
Reply hd taboo porn
7:27 AM on June 4, 2022 
Really enjoyed this post.Really thank you! Keep writing. makaberzux
Reply incestporn.vip
1:07 AM on June 7, 2022 
Really enjoyed this post.Really thank you! Keep writing. makaberzux
Reply IsmaelSig
6:59 AM on June 10, 2022 
url=http://center-tec.ru/index6.html says...
???????? ???????????? ????????? ???????????? ??? ?????????????

url=http://www.center-tec.ru/index6.html says...

l says...

Reply Letoupt
2:58 PM on June 13, 2022 
url=https://newfasttadalafil.com/ says...
cialis 40 mg
Qbxywp cialis online reviews Cialis Scadenza Brevetto Ubeagn Waanso buy cheap cialis softtabs https://newfasttadalafil.com/ - Cialis
Reply Joogbrera
6:25 PM on June 26, 2022 
viagra 100mg uk price viagra pills discount https://viagraadultsed.com/
Reply JbbwLinskinny
12:45 AM on June 28, 2022 
generic sildenafil online uk where to order generic viagra https://viagrause5.com/
Reply Stevenbreak
3:33 PM on July 11, 2022 
url=https://toyotyres.site/ says...
?????? ????

url=http://toyotyres.site/ says...

url=http://s79457.gridserver.com/?URL=https://toyotyres.site/ says...
Reply Davidhar
12:15 PM on July 17, 2022 
url=https://autoru-otzyv.ru/otzyvy-avtosalon/respublika-auto/ says...
????? ?????????? ???? ??????

url=https://autoru-otzyv.ru/otzyvy-avtosalon/respublika-auto/ says...

tosalon/respublika-auto/ says...

Reply Admjqueno
3:10 PM on July 18, 2022 
viagra online generic canada genuine viagra uk https://xtyviagrix.com/
Reply incestsex.vip
12:14 AM on July 21, 2022 
Really enjoyed this post.Really thank you! Keep writing. makaberzux
Reply incestporn.vip
2:17 PM on July 26, 2022 
Really enjoyed this post.Really thank you! Keep writing. makaberzux