Dow plunges 1,100 points as the coronavirus sends the market tumbling into correction territory

[brooklynite]

Source: CNBC

Stocks fell sharply in volatile trading Thursday as investors worried the coronavirus may be spreading in the U.S. A slew of corporate and analyst warnings on the virus also dragged down the major averages.

The Dow Jones Industrial Average plummeted 1,190.95 points, or 4.4%, to close at 25,766.64. The S&P 500 slid 4.4% to 2,978.76 while the Nasdaq Composite dropped 4.6% to 8,566.48.

Thursday marked the Dow’s biggest one-day points decline in history. The S&P 500 also closed below 3,000 for the first time since last October.

Those losses put the Dow, S&P 500 and Nasdaq in correction territory, down more than 10% from their record closes. It took the Dow just 10 sessions to tumble from its all-time high into a correction. The S&P 500 and Nasdaq set record highs last week.

Read more: https://www.cnbc.com/2020/02/26/dow-futures-fall-after-microsoft-issues-coronavirus-warning.html

[Turbineguy]

1. Another record

for trump to brag about.

[gibraltar72]

2. What did the Dems do now??

[durablend]

7. Exist.

[Submariner]

3. Trump will be pissed that this is killing the 409(K)s

[Iliyah]

4. California did it . . .

8,400 under observation.

[Bernardo de La Paz]

5. Biggest one day decline (in points) is on tRump watch. Obama market rose faster higher first 1130 da

Last edited Thu Feb 27, 2020, 07:37 PM - Edit history (1)

S&P 500, for the first 1130 days of each presidency.

Obama:
Jan 20, 2009: 804.47
Feb 24, 2012: 1366 up 69.8 %

Trump:
Jan 20, 2017: 2263.69
Feb 24, 2020: 3225.89 up 42.5 %

And that is not counting today's drop.

Even if we use the intra-day high of 3393.52 from Feb 13, 2020, tRump only managed 50% compared to Obama's 70%.

[progree]

14. I think you meant Feb 24,2012: 1366 up 69.8%

not 2009? (Just a quibble on my part)

https://finance.yahoo.com/quote/%5EGSPC/history?period1=1328832000&period2=1330473600&interval=1d&filter=history&frequency=1d

On Trump, as of today's close (2979), his record is +31.6%

[Bernardo de La Paz]

15. You are correct, and it is worth pursuing details like that. Thanks. . . . nt

[BigmanPigman]

6. I remember way back when

a sharp stock market decline and possibility of a pandemic wouldn't have a silver lining. I hope this sends tRump out the door.

[bucolic_frolic]

8. Black Swan meets Bullish Blowoff topping event

I doubt this will go away anytime soon.

You see that last red candle? https://www.finviz.com/quote.ashx?t=SPY&ty=c&ta=0&p=m

They come in three's. Long threes. SPY 230-240 territory. We're at 297.

Same with the QQQ https://www.finviz.com/quote.ashx?t=QQQ&ty=c&ta=0&p=m

25 points to the downside. And all this is technical charts sans Cov-19.

[cstanleytech]

9. Hey wait a minute!! Wasn't Trump bragging and taking responsibility for the economy a few weeks ago?

Perhaps we should give him and the Republicans "all" the responsibility then including this crash?

[CanonRay]

10. Trump's been claiming for three years that this is HIS economy.

Own it, fuckwad.

[riversedge]

13. Trump will only own his wallet!!

[bucolic_frolic]

11. After hours futures, 5:00PM, DJIA down 1379 points more

http://thestockmarketwatch.com/markets/after-hours/trading.aspx

[Stuart G]

12. Trump is much too stupid, to know that he is stupid. If Trump claims that this is "his economy"

than this is "his stock market fall."

But anyone this stupid and arrogant really has no clue. On November 3, evening, he will figure it out.