tanked 9.5% on Thursday, joining the Dow in a bear market and officially ending the longest bull market ever. Since last month's record, the index lost nearly 27%. A bear market is defined by a decline of at least 20% from recent highs.El-Erian predicted the U.S. stock market may drop 30% from last month's records before finding a bottom.
El-Erian said on Friday that he did take some solace in what he described as Federal Reserve policymakers and government officials waking up to the magnitude of potential economic damage that the virus is causing in the U.S. and around the world. He did caution, however, that "We have to get used to the fact that we're going into a global recession."
These guys are acting Trump & full of shit. Stay away fr the mkts if you’re not in it. It was a bubble due to explode anyway. Take losses if can’t hold. Hold if hv good fundamental stocks. Ignore temptations of gaining the volatility. You won’t beat big guys to the click.
elerianm still not there. US health system is nowhere close to being setup to handle this. The business impact will be broader and more extreme as this goes on. Wait a few weeks til schools are all canceled and people are getting care/isolated in tents. We have a long way to go
What will WarrenBuffett do now?
19 trillion in debt,shale gas on verge of bankruptcy student loan debt auto car debt 0% interest, throwing free money at everything propping up bad companies and everything is going to be ok? Wow
JCPenney ! Comeback.
Fundamentals on the ground surrounding this virus hasn’t changed. There is still uncertainty around the affects, the scale. Until this is addressed, I think the market continues to gyrate
Plunge Protection Teams valiant efforts to shore up the markets with free money from the Fed. Nice varnish is being applied over a surface that has rotted beyond repair.
Gee, thanks for that.
QE4 starts today, that should help ease the fears of those talking heads😉
😂😂😂😂
shadyeshra
So end of the world at 2800 but ok at 2500? This difference is a rounding error in the big picture.
These people are clowns. They change their views on market like the way 1 hour candle sticks print green or red. CNBC SHOULD STOP HIRING OR INVITING PEOPLE LIKE HIM WHO HAVE NEITHER a PERSONALITY NOR MARKET WISDOM $spy $qqq $vix
That’s the best we can hope for each day for the next 50 days, “less scary”.
Here you go this was 5 minutes ago you posted this!
It all looks normal when someone sits with one billion in cash and assets.
You would have to be an idiot to buy right now. Stores are almost out of stock and the panic level has increased substantially. I can't even get my oven fixed, no parts.
Wtf make up your mind! Minutes ago CNBC you posted he said we are going into a global recession, and now he thinks it looks less scary Well last time I checked a global recession wouldn’t constitute “less scary”. Seriously who is your twtr person. My god🤦🏻♂️
Well duh. The FED is bailing them out.
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