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Stocks fell sharply on Monday, with Dow Jones Industrial Average losses reaching 1,000 points. The number of coronavirus cases outside China surged, stoking fears of a prolonged global economic slowdown from the virus spreading.
The Dow traded 1,025 points lower, or 3.5%. The S&P 500 slid 3.5% while the Nasdaq Composite traded 3.9% lower. The 30-stock Dow is also negative for 2020.
Source: (CNBC) Dow plunges 1,000 points, gives up gain for the year
Geebus! One word, "Coronavirus". That says it all.
China has closed most of its factories, and with today's inter-related global supply chains, I was wondering how long can the rest of the world would get by without China's parts & sub-assemblies before there's a spillover effect. It seems today's markets are reflecting my concerns here.
I would keep an eye on the U.S. automakers. Cars are sold as whole functional units. If a part is missing, obviously the car does not sell. And today, American cars integrate parts from all over the world - including China.
Anecdotally, I was contemplating buying a Chinese audio amplifier. The manufacturer's website indicates they are now shut-down and not shipping due to the coronavirus lock-down. Ditto for several other eBay Chinese audio parts online stores I've seen. Making it worse, many online Chinese stores were shutdown for all of January due to the Chinese New Year. And now, the shut-down is extended due to the virus. And again anecdotally, I know a guy that works in international supply chain shipping logistics on the West Coast, that claims his company's business is now doing substantially less than what they normally do.
Yes, my last paragraph is anecdotal. I won't use anecdotal evidence to make an argument. In fact, I'm not making an "argument". But I will opine that I now believe our economy is going to take at least a slight ding here. Maybe only a tick or two in GDP & earnings (maybe more?). But however slight or not, I think we will be effected to some degree.
Source: (CNBC) Dow plunges 1,000 points, gives up gain for the year
Geebus! One word, "Coronavirus". That says it all.
China has closed most of its factories, and with today's inter-related global supply chains, I was wondering how long can the rest of the world would get by without China's parts & sub-assemblies before there's a spillover effect. It seems today's markets are reflecting my concerns here.
I would keep an eye on the U.S. automakers. Cars are sold as whole functional units. If a part is missing, obviously the car does not sell. And today, American cars integrate parts from all over the world - including China.
Anecdotally, I was contemplating buying a Chinese audio amplifier. The manufacturer's website indicates they are now shut-down and not shipping due to the coronavirus lock-down. Ditto for several other eBay Chinese audio parts online stores I've seen. Making it worse, many online Chinese stores were shutdown for all of January due to the Chinese New Year. And now, the shut-down is extended due to the virus. And again anecdotally, I know a guy that works in international supply chain shipping logistics on the West Coast, that claims his company's business is now doing substantially less than what they normally do.
Yes, my last paragraph is anecdotal. I won't use anecdotal evidence to make an argument. In fact, I'm not making an "argument". But I will opine that I now believe our economy is going to take at least a slight ding here. Maybe only a tick or two in GDP & earnings (maybe more?). But however slight or not, I think we will be effected to some degree.
Source: (CNBC) Dow plunges 1,000 points, gives up gain for the year
Geebus! One word, "Coronavirus". That says it all.
China has closed most of its factories, and with today's inter-related global supply chains, I was wondering how long can the rest of the world would get by without China's parts & sub-assemblies before there's a spillover effect. It seems today's markets are reflecting my concerns here.
I would keep an eye on the U.S. automakers. Cars are sold as whole functional units. If a part is missing, obviously the car does not sell. And today, American cars integrate parts from all over the world - including China.
Anecdotally, I was contemplating buying a Chinese audio amplifier. The manufacturer's website indicates they are now shut-down and not shipping due to the coronavirus lock-down. Ditto for several other eBay Chinese audio parts online stores I've seen. Making it worse, many online Chinese stores were shutdown for all of January due to the Chinese New Year. And now, the shut-down is extended due to the virus. And again anecdotally, I know a guy that works in international supply chain shipping logistics on the West Coast, that claims his company's business is now doing substantially less than what they normally do.
Yes, my last paragraph is anecdotal. I won't use anecdotal evidence to make an argument. In fact, I'm not making an "argument". But I will opine that I now believe our economy is going to take at least a slight ding here. Maybe only a tick or two in GDP & earnings (maybe more?). But however slight or not, I think we will be effected to some degree.
Stock market doesn't like Bernie.
Bye, bye 401k.
I think this is a contributing factor.
Source: (CNBC) Dow plunges 1,000 points, gives up gain for the year
Geebus! One word, "Coronavirus". That says it all.
China has closed most of its factories, and with today's inter-related global supply chains, I was wondering how long can the rest of the world would get by without China's parts & sub-assemblies before there's a spillover effect. It seems today's markets are reflecting my concerns here.
I would keep an eye on the U.S. automakers. Cars are sold as whole functional units. If a part is missing, obviously the car does not sell. And today, American cars integrate parts from all over the world - including China.
Anecdotally, I was contemplating buying a Chinese audio amplifier. The manufacturer's website indicates they are now shut-down and not shipping due to the coronavirus lock-down. Ditto for several other eBay Chinese audio parts online stores I've seen. Making it worse, many online Chinese stores were shutdown for all of January due to the Chinese New Year. And now, the shut-down is extended due to the virus. And again anecdotally, I know a guy that works in international supply chain shipping logistics on the West Coast, that claims his company's business is now doing substantially less than what they normally do.
Yes, my last paragraph is anecdotal. I won't use anecdotal evidence to make an argument. In fact, I'm not making an "argument". But I will opine that I now believe our economy is going to take at least a slight ding here. Maybe only a tick or two in GDP & earnings (maybe more?). But however slight or not, I think we will be effected to some degree.
Wait a minute. Weren't all my early messages warning about the coronavirus just false fear mongering trying to create panic?
Source: (CNBC) Dow plunges 1,000 points, gives up gain for the year
Geebus! One word, "Coronavirus". That says it all.
China has closed most of its factories, and with today's inter-related global supply chains, I was wondering how long can the rest of the world would get by without China's parts & sub-assemblies before there's a spillover effect. It seems today's markets are reflecting my concerns here.
I would keep an eye on the U.S. automakers. Cars are sold as whole functional units. If a part is missing, obviously the car does not sell. And today, American cars integrate parts from all over the world - including China.
Anecdotally, I was contemplating buying a Chinese audio amplifier. The manufacturer's website indicates they are now shut-down and not shipping due to the coronavirus lock-down. Ditto for several other eBay Chinese audio parts online stores I've seen. Making it worse, many online Chinese stores were shutdown for all of January due to the Chinese New Year. And now, the shut-down is extended due to the virus. And again anecdotally, I know a guy that works in international supply chain shipping logistics on the West Coast, that claims his company's business is now doing substantially less than what they normally do.
Yes, my last paragraph is anecdotal. I won't use anecdotal evidence to make an argument. In fact, I'm not making an "argument". But I will opine that I now believe our economy is going to take at least a slight ding here. Maybe only a tick or two in GDP & earnings (maybe more?). But however slight or not, I think we will be effected to some degree.
Stock market doesn't like Bernie.
Bye, bye 401k.
The reason for the drop today is because of the virus has spread vastly outside of China, and now is in Italy, the fear being a likely pandemic.
Source: (CNBC) Dow plunges 1,000 points, gives up gain for the year
Geebus! One word, "Coronavirus". That says it all.
China has closed most of its factories, and with today's inter-related global supply chains, I was wondering how long can the rest of the world would get by without China's parts & sub-assemblies before there's a spillover effect. It seems today's markets are reflecting my concerns here.
I would keep an eye on the U.S. automakers. Cars are sold as whole functional units. If a part is missing, obviously the car does not sell. And today, American cars integrate parts from all over the world - including China.
Anecdotally, I was contemplating buying a Chinese audio amplifier. The manufacturer's website indicates they are now shut-down and not shipping due to the coronavirus lock-down. Ditto for several other eBay Chinese audio parts online stores I've seen. Making it worse, many online Chinese stores were shutdown for all of January due to the Chinese New Year. And now, the shut-down is extended due to the virus. And again anecdotally, I know a guy that works in international supply chain shipping logistics on the West Coast, that claims his company's business is now doing substantially less than what they normally do.
Yes, my last paragraph is anecdotal. I won't use anecdotal evidence to make an argument. In fact, I'm not making an "argument". But I will opine that I now believe our economy is going to take at least a slight ding here. Maybe only a tick or two in GDP & earnings (maybe more?). But however slight or not, I think we will be effected to some degree.
The reason for the drop today is because of the virus has spread vastly outside of China, and now is in Italy, the fear being a likely pandemic.
It's Ok, these jobs will be coming back to America within hours......Right??????
Stock market doesn't like Bernie.
Bye, bye 401k.
The market will probably be back in a week. Or not. Who knows?
In the meantime, seems like a good opportunity to pick up some bargains.
Stock market doesn't like Bernie.
Bye, bye 401k.
It may retract much of its losses even today. We've seen this pattern of a crash on the morning's bad news, then a significant partial recovery later in thev day when calmer heads prevail. In fact, as of this moment the losses have receded back to 780 down, from the previous 1070 down.It'll go back up in a few weeks. People pull their money out of some markets based upon current events then reinvest based on current events. For example, in this case, I suspect they are pulling their money from firms trading with China and reinvesting in medical technologies. Unlike some dumbass who hides their money in their mattress, investors invest. They won't just pull the money and sit on it or put it in a bank making 0.2% interest. They'll reinvest.
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