Hordes of panicky people seem to be evacuating the town for some unknown reason. Professor, without knowing precisely what the danger is, would you say it’s time for our viewers to crack each other’s heads open and feast on the goo inside?
Black Monday. What a day to be alive. It will go down as one of the worst trading sessions in U.S. history. Heck, the S&P 500 experienced its third-worst opening session ever, before 9/11 and the financial crisis.
Here is what has happened at the time of this writing:
– Dow Jones Industrial Average: 1,859 points to 24,005.04
– S&P 500 – 6.94 percent to 2,766.05
– Nasdaq: 6.16 percent to 8,047.
– Brent crude oil: $9.20, or 20.32%, to $36.07 a barrel.
– Gold: $3.40, or 0.2%, to $1,675.80 an ounce.
The market crash was so weird that stock trading halted for 15 minutes near the opening bell, iShares International Treasury Bond ETF (IGOV) topped $200,000 for 90 minutes, Robinhood was down AGAIN, and the benchmark 10-year Treasury note fell to a record low of 0.3 percent.
The Federal Reserve announced that it will inject cash into the banking system to fight against the market turmoil.
Why did everything come crashing down? Two things: the coronavirus widespread is worsening and the world is preparing for a global oil price war.
It is time to hide in your bunker, hold onto your gold, and read President Donald Trump’s tweets.
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