03-09-2020, 02:19 AM
Honestly, I thought after Thursday drop, markets would pop back on Friday. Then over the weekend, I thought it might pop tomorrow (Monday). There seem to be larger forces at work than I can comprehend:
That's today, or rather just this evening.
NK is firing missiles, the Saudi royal family appears to be at war with each other, everyone except the President is freaked out over coronavirus (State Department now says no one should take a cruise), and...dogs and cats, living together. Yikes!
OPEC’s failure last week to strike a deal to cut production prompted Saudi Arabia to lean in aggressively on cheaper oil prices, which fanned concerns about a full-fledged price war that sent oil into free-fall...[oil] prices collapsed, falling by as much as 31% on Sunday evening in what was the largest single-day drop since the U.S. invaded Iraq in 1991.
S&P 500 futures (ES=F) fell 5% to 2,819, triggering a trading halt. The Chicago Mercantile Exchange does not allow these contracts to trade by more than 5% up or 5% down during non-U.S. trading hours.
Dow futures (YM=F): 24,807.00, down 982 points or -3.81%
Nasdaq futures (NQ=F): 8,130.75, down 372.5 points or -4.38%
That's today, or rather just this evening.
NK is firing missiles, the Saudi royal family appears to be at war with each other, everyone except the President is freaked out over coronavirus (State Department now says no one should take a cruise), and...dogs and cats, living together. Yikes!