$3.4 trillion has been wiped out of the stock market in a week

It took the S&P 500 just six trading days to go from record highs to a correction. That's the fastest such swing in more than 70 years, according to Howard Silverblatt of S&P Dow Jones Indices.Pandemic fears have wiped out $3.4 trillion from the S&P 500 over that span. And more losses are in store on Friday. US stocks are on pace for their worst week since the 2008 financial crisis.

Wall Street is now bracing for weaker corporate profits ahead because of the coronavirus. Goldman Sachs warned that 2020 S&P 500 earnings growth could be wiped out by the damage done to supply chains and demand. That suggests the selling may not be done just yet. RBC Capital Markets said the S&P 500 could tumble to a range of 2,700 points and 2,900 points, equaling a total loss of 14% to 20% from its record highs.

I just want to die :'(

And CNN is happy about it.😂

It’s the FakeNews like CNN who fear monger in hopes of ruining the market which all it really shows it how anti-American really is.

We should ban all Chinese fr entering the US 4 10yrs.

They blame the coronavirus, but with what Bernie would do to the stock market, as he secures the democratic ballot, the market will adjust to his likelyhood of presidency. It's something that they don't publicize, but you better get out of the market, if Bernie looks promising.

Democrats are rejoicing

Democrats fault. Open borders. Socialist candidates. And yelling we are all going to die. And China.

If trump thought that a president should be sacked if the market loses 1000 points in a day, what does he think should happen if it loses 4000 points in a few days?

Oh please. CNN tries to act like it cares about the market's plummet. Their hosts are all circle jerking at the possibility it brings down Trump.

We don't need Medicare for all...especially with killer virus outbreak.

more importantly?...who is getting that money?

It’s devastating for people’s retirement funds!

CarolineGault forget drinks tonight, we are going to costcocanada for our non perishables.

Trump presidency has caused the market's worst week since the last Republican financial crisis.

Just imagine the fears and lies being spread by left leaning MSM and Democrats have helped with this.

It’s ok tru p making America great !!! Just put your hat on and hate

Fortunately I'm already broke so...

Love it :)

😬😬😬😑

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The Week That Wiped $3.4 Trillion Off the Stock MarketU.S. stocks were at record levels just last week, seemingly unaffected by fears that the coronavirus could dent the global economy. Then reality took hold. Yawn. A few less vacations for the 10% of Americans than own 80% of the market. Half of all Americans don’t own a stock. This is a problem of luxury, not middle working class Americans You mean the media frenzy took hold
Source: WSJ - 🏆 98. / 63 Read more »

Asian stocks slide deeper as pandemic fears growRising fears of a pandemic, which US health authorities have warned is likely, had already wiped more than $3.6 trillion from global stock markets by Wednesday's close.
Source: trtworld - 🏆 101. / 63 Read more »

Coronavirus Wipes $5 Trillion Off Global Stocks As It Spreads To New CountriesMarkets across the globe are seeing their worst week since the financial crash in 2008 amid fears that Covid-19 could become a global pandemic. My 401k is down to 301k. 😒 Why I think that Jeff Bezos was knowing all this . Why couldn’t China have just closed those wet markets? They said they would but they didn’t
Source: Forbes - 🏆 394. / 53 Read more »