Stock market rout deepens on virus worries; indexes lose 4%

The Dow Jones Industrial Average sank nearly 1,200 points Thursday, deepening a weeklong global market rout caused by worries that the coronavirus outbreak will wreak havoc on the global economy.

“This is a market that’s being driven completely by fear,” said Elaine Stokes, portfolio manager at Loomis Sayles, with market movements following the classic characteristics of a fear trade: stocks are down, commodities are down and bonds are up. The virus has now infected more than 82,000 people globally and is worrying governments with its rapid spread beyond the epicenter of China.

Besides a sharply weaker Chinese economy in the first quarter of this year, he sees lower demand for U.S. exporters, disruptions to supply chains and general uncertainty eating away at earnings growth. Traders are growing increasingly certain that the Federal Reserve will be forced to cut interest rates to protect the economy, and soon. They’re pricing in a nearly two-in-three probability of a cut at the Fed’s next meeting in March. Just a day before, they were calling for only a one-in-three chance, according to CME Group.

Am skeptical re: blaming the coronavirus scare for the drop in the Dow. Methinks the 1%, big banks, pharma, insurance whores, military industrial complex & prison complex are sh*tting their pants 'cause Bernie is winning! They see the writing on the wall & I couldn't be happier!

Lol, the flu kills more people annually, and this will be contained by the end of march. I am buying all the stock I can as soon as I think it hit bottom, because it will soar again.

Fun fact: the Dow is now FLAT for the past 2 years.

The left is weaponizing this flu outbreak to ruin what POTUS accomplished. They are pathetic and so are all the media outlets who lie o a daily basis.

Keep hitting them in the wallets.

Q...what stock would you invest in right now?

Gains from earlier this year?!? If the dow goes a few points lower it'll hit levels first seen in late 2017

Retweet this Patent for the CoronaVirus

It has another 15% to go

Democrats just need another 8000 point drop to get back to the Obama DOW level

And now we’re stuck with debt because of the tax breaks for the rich.

The best excuse for the correction that investors have been waiting for: COVID-2019 C: China O: Originated V: Very I: infectious D: Disease Coming soon COVID-2025! bopinion cnni YahooFinance realDonaldTrump foxandfriends dwnews COVID19 COVID2019 COVID19US

Please Donald, no more press conferences! trumpisacarnivalbarkingclown

Just waiting for realDonaldTrump to blame BarackObama. Wonder how he'll do it...

Any MAGAts wanna try to spin -1200 as +1200? Math is hard.

Trump always takes credit when the market is up, but it’s crickets when his bumbling the Coronavirus sends them down

I'm forever grateful that KhanArtest introduced me to $BTC in 2015.

You mean mighty Mike Pence isn’t going to save the day 🙄🙄🙄🙄🙄

They’re blaming it on the virus but it’s bullshit. Don’t believe it.

The orange guy should be bragging about this, another record!!

REALrsully24 the stock market is only linked to the president when it goes up right?

chunkymark Welcome to the beginning of austerity mk2 😔

Three stocks that did well today have 'staying at home' in common: Netflix, Peloton, and Zoom (video conferencing). Heads-up! coronavirus

Democrats pounce...

If this is how it’s reacting now, wait till it starts to actually spread. And having people in charge who are obviously not taking it seriously is not helping

It's not the virus, it's the possibility that Bernie Sanders wins the Democratic nomination that's tanking the stock market. bernieisaracist

Trump makes history again for worst day in market history!

missykender It's the fear of the TrumpVirus, abuse of power, corruption, lies, hate-mongering, and self-serving ineptness. StockMarket

I guess that announcement about Mike Pence really calmed in the markets, huh?

Stocks go up; Trump is a genius whose financial acumen is responsible, his supporters say. Stocks drop like a stone; It’s the Democrat’s fault.

Trump will take credit for all the gains but losses are the democrats fault.

Follow the money. Tells you their is zero confidence in POTUS

the Pence factor is what % of this?

At least it wasn't the Dow Joans.

When you cut the CDC & several science related depts & you don’t know even get people die from reg flu then you aren’t leadership material . The dems debate was Tues pm ,the stock market first starting its decline Mon & Tues ,but it’s the dems fault or CDC for scaring investors

The world market is going down since January because of the virus scare. It only affects US in past days. It is normal if there is world issue.

🤷🏽‍♀️🤷🏽‍♀️

blame it a virus, how about blame it on the horrible policies this administration has gotten away with

1- Turkey has started a rightful operation against Syrian Regime to protect its borders after the vicious attacks by Syrian Regime against civilians in Turkey controlled zones. 2- Turkey has opned its doors to Europe for 72 hours. All immigrants are free to pas EnoughIsEnough

realDonaldTrump THIS IS FINANCIAL TERRORISM BEING COMMITTED BY MSM! THE PANIC THAT THEY R STIRRING UP IS NOT JUSTIFIED! THE MEDIAS ACTING AS IF CORONA HAS KILLED MILLIONS OF PEOPLE! EBOLA & SARS WERE NOT EVEN COVERED TO THIS EXTENT EVEN THOUGH THE DEATH RATES WERE WAY HIGHER!

The FakeNewsMedia is celebrating. Applauding and dancing all around. In their twistedminds, this will help them beat Pres Trump at the ballot box. Hoo boy!

And people have no confidence that Trump would help save us. None. His lies and disinformation give us no confidence coronavirus

Virus outbreak is legit , trump try to muddle water mkt plunge cuz by dems . Nice try genius with science

Thanks Obama!

I don't fear the virus itself. I fear the aftermath this whole situation will create. Than the virus itself. If the coronavirus doesn't kill us, the deep depression ahead will.

The stock market has been on a year for three years and is still super high and will not be hurt by a week or two of down markets

Wipes out gains all the way back to June 7, 2019 actually.

Keep your word trump

kinda like 45’s current tenure, up and down wiping out every single progress made by Obama

TruthBeTold on Trump UnfitToBePresident ETTD TrumpCrimeFamily Must GO in November!!!!!

It has actually wiped out all gains posted since January 2018, not just this year.

In other words, Trump and GOP, have now almost completely broken everything they can.

Is this the definition of Keeping America Great 🤔

I feel like this cycle won't be over until we hear, 'Mission accomplished!' and 'Brownie, you're doing a heck of a job!' Jesus, help us (please❤). 🙏🙏🏽

Turkey opened its border crossing to Europe comes a new wave of immigration, including corona

The Trump Economy

realDonaldTrump This one is your fault. Lying about the virus didn't help.

When you think of the Coronavirus, think of Mike Pence. - 45, Just yesterday

This is what happens when they think we won't go to work, and transportation and international commerce will slow down. WildcatStrike

Relax people. This to shall pass. Time to Buy!

It will come back as soon as the investors find U.S. companies to put their money into.

Democrats are hurting Seniors stoking unnecessary fear because they think it helps them try to beat Trump. It just makes us hate Dems more. They don’t care about voters. They only care about collecting their paychecks & kickbacks. NoDem2020 DemsCrashMarket

When you take credit when things are going well you better be ready to take the blame when it doesn’t.

Europe (incl Russia) & NorthAmerica & China & Japan & Australia /NewZealand other parts of the developed world used to be not affected by infectious health risks. Large parts have to live with Dengue or Malaria. Covid19 came to stay & it's impact is not comparable to flu

It’s a sign from Castarios, God of the Dollar.

Markets go up and down. Such is life.

let me translate in human words : 'we are concerned by the money.. not about life' sing along! : 'one for the money, two for the money'

Wait until tomorrow !

This drop is obviously due to the debate tonight

FuckingChina

Get ready you haven’t seen anything yet

I seem to remember a tweet from Trump before he was president saying something to the tune of, if the market ever dropped by 1000 points the president should be shot out of a cannon or something... is my recollection correct?

How you doing realDonaldTrump? So much winning amirite?

Trump made a huge mistake by appointing Pence...who on earth would get confidence by seeing a lapdog like Pence being appointed as in-charge?

Don’t be fu——- morons......market pricing in a more possible Comrad Bernie win....he’s the front runner during a time of a Black Swan event....Coronavirus......which is taking down world/USA GDP growth....might be the perfect scenario for a communist to be elected in the USA

NO EXCUSES?! 🤷🏻‍♀️😂

The trump economy is now kicking in folks lmao 🤣

And the gutter trash rejoices!

I'll just leave this here!

Lordt.

almost as if they think the guy who can't spell 'coronavirus' and who lies pathologically might be terrible at managing a pandemic

We are witnessed the fall of finance as we know it. Digital assets, gold and silver, properties are much more sound and safe investments.

I anticipate the market will fall overall by half... BeenWarned 🧐🕵️‍♂️

Thanks Trump!!!

Moar, pleez.

Hey Donald Trump, it's time for you to resign You & your administration are clearly incapable of handling the coronavirus threat The world can't take much more of your incompetence realDonaldTrump VP WhiteHouse GOPLeader senatemajldr trump POTUS COVID19US

Buy Bitcoin

So much for trumps pep talk, no surprise. Trumpty Dumpty falling off that wall...

Just don’t come crying to The Church of Jesus Christ of Latter-day Saints for help when the economy crashes. 🍵 🐸

His utterly incompetent response has made matters worse

So the stock market is not reacting positively to *trump's CoronaOutbreak response team VP and larry_kudlow 🤔

Thanks realDonaldTrump!

TrumpVirus leads to trumpcrash pass it on.

DennisBounds87 I don’t have one penny in the stock market, so I am good. 😎

This is not what you call a strong economy. Mirage

Bernie says he wants Wall Street to suffer, this should make him positively giddy.

This is a major correction. What does the market know that we do not?

This is nothing but a TrumpTajMahal bloated economy! Just like that albatross went bankrupt in NJ, this economy and your 401k will crash and burn.

Aw trump’s little me me me press conference yesterday didn’t calm the markets, so shocking

Buy buy buy

Cheap stock for sale: Don’t miss out

The stock market is not the real economy not the real world.

Not fearful at all for those who are dividend-driven

The stock market is never a measure of the buoyancy of any economy. No bank or investor accepts stocks as collateral. None. No one. The stock market is a product of perception. I hope in the end the damage isn't too bad

I feel like it’s a good thing. Nothing gets attention of our current administration like money.

Can’t imagine anyone wanting to be caught on the market over the weekend, more blood tomorrow?

I don't really care, do you?

Blaming it on the virus ignores Trump terrible economic policy. Ignores the 1/2 Million Americans living pay check to pay check.

The answer clearly is to elect a socialist/communist. That will Fox hour stock market.

And the fear begins. If you can’t impeach him, or beat him in the polls, then maybe killing the economy will work!

Starting to look like the next democratic president will be handed the situation Brush left for Obama.

MAGA

Largest daily drop in history.

Trump will probably blame Obama

Congrats 🍾🎉🎊 realDonaldTrump WhiteHouse LindseyGrahamSC

Very soon, not yet...will be a great time to buy

Keep it going. Realistically it should be around 22.

3rd quarter recovery

Where’s the sweat on his brow?

I’m sure it’s Obama’s fault..

Ireland Ireland Latest News, Ireland Ireland Headlines

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

Stock market live updates: Dow futures up 100, coronavirus cases jump, Disney fallsAfter this week’s historic market sell-off, these are the 2 things Leon Cooperman says he’s watching: “One is the coronavirus, does it get under control in a reasonable timeframe? And second that we don’t have a Socialist or Communist in the White House.” Being so narrow minded is what will kill this election.
Source: CNBC - 🏆 12. / 72 Read more »

Stock market live updates: Dow down 700, rebound attempt fails, will Fed act?“We’re starting this epidemic at all-time highs,” one expert says about the coronavirus. “So the initial damage is probably going to be a whole lot more than it has been for the other 11 global health care scares that we’ve seen over the last 20 years.” There needs to be criminal charges against the media and politicians fomenting this fake crisis right now realDonaldTrump especially the financial media, it’s like yelling fire in a movie theatre, where’s the FBI Oh wait our FBI is as corrupt as the rest of D.C & WS yep, definitely need a vaccine NATALLIANCE: 'We went from an 'all-time high' to a 'correction' (-10% off all-time highs) within 6 trading days. This would be only the second time in history that this has happened. The other? Dec 1928.'
Source: CNBC - 🏆 12. / 72 Read more »

Trump’s Stock Market Has Been An Escalator Up But May Be An Elevator DownThe markets have fallen into a 10% correction in just two weeks, which has wiped out two years of gains. With a large portion of the drop due to the Wuhan coronavirus and companies reneging on their guidance, this uncertainty could make for wild gyrations over the next few weeks. Oof Buy the dip. Good - those gains came from the backs of those who did not benefit from it. WORKERS. I hope Wall Street crooks lose their shirts.
Source: Forbes - 🏆 394. / 53 Read more »

Stock market slammed by fears coronavirus will deliver a ‘supply shock’ that central bankers can’t fixBecause the outbreak originated in China, 'coronavirus is both a demand and a supply shock to the global economy,” one analyst says. This is a malicious and deliberate attempt on the liberal media to crash a prosperous nation over such an over blown and sensationalized story that its hard to even fathom. But it’s happening. Congratulations. Well done. Put this one in the history books.
Source: MarketWatch - 🏆 3. / 97 Read more »

As the coronavirus outbreak spread, Trump focuses on the stock market?In the midst of a public-health emergency, Trump should be focused on the emergency itself, not its impact on Wall Street. MaddowBlog MaddowBlog He only cares about money and looking good so he can brag later. MaddowBlog What's worse is that almost half this country would happily see themselves perish from his ineptitude, and they'd still cheer him as some kind of divine figure.
Source: MSNBC - 🏆 469. / 51 Read more »