Trader Peter Mancuso prepares for the day's trading, on the floor of the New York Stock Exchange, Thursday, March 5, 2020.
These vicious swings are likely only to continue, as long as the number of new infections continues to accelerate, many analysts and professional investors say. Thursday was the fourth straight day where the S&P 500 moved at least 2%, the longest such stretch since the summer of 2011. In China, where the number of new infections has been slowing drastically, stocks trading in Shanghai have rallied nearly 12% since hitting a bottom on Feb. 3. Factories there are gradually reopening, and a return to a sense of normal life may even be on the horizon following swift and severe actions by the government to corral the virus.
The S&P 500 fell 106.18, or 3.4%, to 3,023.94. The Dow Jones Industrial Average slumped 969.58, or 3.6%, to 26,121.28, and the Nasdaq lost 279.49, or 3.1%, to 8,738.60. Travel-related companies continued to fall sharply on worries that frightened customers won’t want to confine themselves in planes or boats with others. Royal Caribbean Cruises sank 16.3%, Carnival fell 14.1% and American Airlines Group lost 13.4%.
Asian stock markets started Thursday off higher, riding the wave of optimism and hope that sent the S&P 500 spurting up 4.2% on Wednesday. U.S. congressional leaders reached a deal on an $8.3 billion bill to battle the outbreak, which the Senate passed Thursday, and the Bank of Canada followed up on the Federal Reserve’s surprise cut to interest rates the day before with its own.
Barnes_Law It’s gonna be all right
The stock market is a stumbling drunk.
Translation, nobody is buying trump's bull on coronavirus.
And this is after the FED lowered the interest rate this week
Every time the Dow goes down like this based on fears even when fundamentals are fine, BuyTheDip Convert some of your cash portion of your portfolio to do so. 'Dollar Cost Averaging' is a strategy of many a billionaire.
Trump is tanking the stock market! That my friends is not fake news .
The fear is not generated by the virus, the fear is generated by the fact that the Trump administration cannot manage a fairly ordinary process of responding to a new strain of an old virus.
Nooooooooooooooooo please stonks come back
Barnes_Law And Democrats rejoice! Celebrating the drop in the market.
Barnes_Law Could it be the fear of a Biden Presidency? He has no clue what he is doing
Both over inflated bubbles
Biden will fix it 😂 poor guy cant string a sentence together. His family need to step in. Bring back Amy! AmyKlobuchar
MarcusFrampton, good luck!
It’s realDonaldTrump’s fault.
Blame Trump
And on and on goes the TrumpSlump
Guy in the picture - DON’T TOUCH YOUR FACE!!!
Media Is The Virus! Turn off Media and you instantly feel better
Maybe we shouldnt put all our eggs in one basket.
Every other day it seems. Up and down.
Market is fearing fear of fear.
According to China there are now 2 strains of the Covid 19 virus which essentially makes vaccination twice as difficult. Now 2 vaccines will have to be developed.
OMG!! Trump will freak out. That's much worse than people not being able to work or dying. Have the Fed give -5% interest loans to people with more than $10 million in yrly income. No! -25%.
Good. Hope the 'But my 401k is doing so well' people take it good and hard.
👀👇🏾
Breaking: the market don't like instability 🙄
Are investors getting motion sickness?
So why doesnt this happen when thousands die from the flu or influenza every year or when spring comes and all the disease spreading mosquitoes come hunting your ass down? Why?
Nothing Worse than a trump and a Coronavirus Mix Coronavirus Coronavirusnyc StockMarketCrash2020
Pence was out saying they can't test people. It really is looking grim for the US at the moment.
It lost nearly everything it gained yesterday. The market is in epileptic shock and this administration's answer is to continuously blast in the face with randomized blasts of colored lights!
Can't you feel the swells. Storm coming. And we're in the middle of it.
My god who could have seen this coming after one day of rising stocks
Should I buy a house now yes or no