Dow Jones stock market crashes 3,000 points in biggest single day loss ever

[Aspen]

Stocks extended deep losses ahead of the closing bell after President Donald Trump said the U.S. economy "may be" headed for recession and that the COVID-19 outbreak could last for months. The Dow Jones Industrial Average DJIA, -12.92% ended with a loss of around 2,997 points, or 12.9%, near 20,189, according to preliminary figures, while the S&P 500 SPX, -11.98% dropped around 325 points, or 12%, near 2,386. The Nasdaq Composite COMP, -12.321% fell around 970 points, or 12.3%, to end near 6,905, for its largest one-day percentage drop in history.

https://www.marketwatch.com/story/d...-worst-day-ever-2020-03-16?mod=bnbh_mwarticle

 

[Amavous]

https://twitter.com/x/status/1239646402898276355

https://twitter.com/x/status/1239643164870430721

https://twitter.com/x/status/1239652019482308609

 

[LeGenD]

Did anybody anticipate a virus causing global economic meltdown?

This is a 'mere warning' from Allah Almighty to the entire world - look how fragile you all are. Fear him and just him.

 

[ShaikhKamal]

Dow Jones have gone up dramatically in last five years and it is not sustainable. Currently it has bottomed at 20,000 in last few days. The Coronavirus and China-US trade disputes means it may drop even more dramatically in next few weeks.

 

[RIP Pak LAW]

God save PSE tomorrow ..good luck baby!

 

[Hamartia Antidote]

Did anybody anticipate a virus causing global economic meltdown?

Yes, the Chinese bosses of their biolabs are James Bond fans.

 

[F-22Raptor]

Whenever this virus is finally over, I expect a rapid rebound in the markets. But until then, the world economy is going to hell, especially with the economic news out of China and the US. And Europe is getting destroyed...

 

[Aspen]

This is probably the best time to buy stocks in 3 decades. Airline stocks are an absolute steal right now.

 

[LeGenD]

Yes, the Chinese bosses of their biolabs.

This matter should not be politicized.

 

[Aspen]

When the market opened this morning, it crashed instantly and halted trading for 15 minutes after it hit the circuit breaker for the 3rd time in a week. I think market will hit a 4th circuit breaker tomorrow.

 

[ShaikhKamal]

This is probably the best time to buy stocks in 3 decades. Airline stocks are an absolute steal right now.

The market has not bottomed out yet just buy limited number of stocks everyday as price fluctuates.

 

[LeGenD]

This is probably the best time to buy stocks in 3 decades. Airline stocks are an absolute steal right now.

Bad time for purchasing stocks. People have lost huge sums of money lately.

 

[Aspen]

Bad time for purchasing stocks. People have lost huge sums of money lately.

It's bad if you bought a few weeks ago. But if you buy right now it's a literal cash grab. I got several stocks for 1/2 and 1/3 of that they usually are.

 

[Amavous]

Airlines will request $50 billion assistance package
From CNN's Greg Wallace

Airlines slammed by the coronavirus are requesting a package of aid from the US government that could amount to $50 billion, according to Airlines for America, the industry group, and two sources.

The aid is requested in the form of loans, grants and tax relief. The ask includes up to $25 billion in grants for passenger air carriers and $4 billion in grants to cargo carriers, and the same amounts in loans or loan guarantees, Airlines for America outlined in a briefing document.

“US carriers are in need of immediate assistance as the current economic environment is simply not sustainable,” the group said in a statement. “This is compounded by the fact that the crisis does not appear to have an end in sight.”

The aid package has been discussed with key lawmakers and staff, on Capitol Hill and the Trump administration, the sources said. The discussions were described as being at an early stage. But one source noted there is a growing recognition from the federal government that conditions “are getting very bad, very fast.”

The airline group predicted the seven US airlines it represents "run out of money completely sometime between June 30 and the end of the year." It predicted losses could be as high as $53 billion this year.

https://twitter.com/x/status/1239619996923375617

 

[Yaseen1]

i think people should buy stocks of drug and medical equipment for corona virus manufacturing companies as their shares will go high,similarly grocery stores like wallmart will also show high earnings due to more people buying goods for storage because of fear of corona virus as well as freelancing sites and social media companies will also face less loss as many schools using online services for education and people are more switching to work from home based jobs