NEW YORK (AP) — Stock tumbled at the open on Wall Street following a sell-off in markets in Europe and Japan as investors grow more concerned about the potential economic impact of an outbreak of a deadly coronavirus.
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Chinese authorities reported 2,744 people sickened and 81 killed by the new virus first found in the central Chinese city of Wuhan.
Major US indexes fell more than 1% Monday, with the Dow Jones Industrial Average dropping as many as 500 points. Hotels, airlines and other travel and tourism companies fell the most. Oil dropped more than 2%, while gold rose. Bonds rose and the yield on the 10-year Treasury fell to 1.61%.
Stock slide due to BOLTON TESTIFYING. LOL
Buy high, sell low.
Notice that each day the media knows the reason the market moved the way it did… after it moves. And, gee, do media really believe that there is anyone of any consequence who thinks that the many trillions of dollars of investment and trading capital EVER moves a particular direction because of any one reason?
85% of market trading is done by computers.
The largest few companies in the world (a minimum of 400 billion dollars in assets) that have a huge fiduciary responsibility to their shareholders probably didn’t go anywhere today.