Economy
Related: About this forumSTOCK MARKET WATCH - Tuesday, 10 March 2020
STOCK MARKET WATCH, Tuesday, 10 March 2020
Previous SMW:
SMW for 9 March 2020
AT THE CLOSING BELL ON: 9 March 2020
Dow Jones 23,851.02 -2,013.76 (7.79%)
S&P 500 2,746.56 -225.81 (7.60%)
Nasdaq 7,950.68 -624.94 (7.29%)
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Market Conditions During Trading Hours:
Google Finance
MarketWatch
Bloomberg
Stocktwits
(click on links for latest updates)
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Currencies:
Gold & Silver:
Petroleum:
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DU Economics Group Contributor Megathreads:
Progree's Economic Statistics (with links!)
mahatmakanejeeves' Rail Safety Megathread
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This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.
TexasTowelie
(112,150 posts)but if it provides a reason for GOP voters to dump Trump then I'll be able to bear it.
Warpy
(111,254 posts)but it's very plucky of anyone to look at this page today, let alone post it. I told people at another site not to look at the stock market until well after noon as I saw the futures trading dip below -5%, going nowhere but down. Tomorrow likely won't be nearly as bad but the overall trend will be down for a while. All that tax cut money that with to the 0.1% and corporations just went "poof" and that's a good thing. If anything, it shows them that money as an end in itself is foolish, maybe now they'll be a little less risk averse and start to provide seed money to scale up some of the new technology coming along.
TexasTowelie
(112,150 posts)I was fortunate when the market crashed in 2008. While I lost some money in my 401k, I was also purchasing stock in the insurance company that I worked for. That company was a counter-party in the derivative trading that crushed AIG back then and the price of that stock doubled in about a six-month period. I saw signs that the real estate market was over-inflated back in 2003 and when I read the insurance company's annual report I noticed the potential of a payout on the derivative trading, plus I considered it as a hedge if the stock market dropped. I started having a small portion of my paycheck withheld through the ESOP in 2004 and over a four-year period the amount I withheld had a growth rate of 30% per year.
For a guy that didn't ever take an economics class, buying stock at $120 a share and seeing it sold at $275 a share was a pleasant experience.
Warpy
(111,254 posts)so you can imagine how far their paper price has gone up. Still, they're only worth what you get for them on the day that you sell them, something dinned into my little head while I was still in diapers.
Not needing to use net worth to leverage debt is a great feeling. It helps me keep a cool head when panicky people are selling stocks and going into a very depressed bond market.
Futures look like the bargain hunters will be out in force tomorrow, over 2% in all 3 markets. I've got some shopping money put by, but I don't think this is quite over yet.
sandensea
(21,627 posts)And when they pop, they've always been spectacular.
It's the Taj Mahal economy with this one.