Webberweather53
Meteorologist
The single-largest daily percentage drops in the dow since the late 1980s all occurred in 2008-09 and were about 7-8%, we're already at 5% before the markets have even opened. This is gonna be ugly...
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Misc Stock Market
- Thread starter ForsythSnow
- Start date
Webberweather53
Meteorologist
Looks like we hit the circuit breaker overnight, wonder how many we end up tripping today.
cyclogent
Member
Well, at these prices, domestic oil production is toast. That side of the bond market is fubar.
D
Deleted member 1449
Guest
Which is exactly what Putin and OPEC wanted.
Webberweather53
Meteorologist
Gas is already nearing $1.70 in parts of the Triangle area now, prices at the pump are already plummeting
D
Deleted member 1449
Guest
Gas prices in the Triad remain higher for now, which really amazes me given that the gas pipeline and storage is located in the Triad. $2.19 at my local station this morning.
Webberweather53
Meteorologist
Exchange trade funds (which continue trading regardless of market circuit breakers) are hinting that the Dow will start off the day at about a 1600-1800 point loss. It's about time to hit the panic button.
Lol about time??!
Webberweather53
Meteorologist
We're gonna hit the next circuit breaker as soon as the markets open. It's definitely panic time.
https://www.cnbc.com/quotes/?symbol=DIA
https://www.cnbc.com/quotes/?symbol=DIA
Nerman
Member
Trump thought Putin was his buddy. I know, political. But that guys just wants to watch the world burn around Russia. No surprise here.
I'm all in SQQQ triple inverse Nasdaq.
Nerman
Member
The New York Fed announced Monday that it would increase its daily overnight repo operations to at least $150 billion from $100 billion in the first four days of the week.
www.marketwatch.com
New York Fed raises size of repo operations for this week
The New York Fed announced Monday that it would increase its daily overnight repo operations to at least $150 billion from $100 billion in the first four...
www.marketwatch.com
Yellow Snow
Member
That makes no sense - plummeting prices are bad for Russia and devastating to OPEC member states.
D
Deleted member 527
Guest
Exactly. I don’t get all the panic over this virus. It’s ridiculous.
Nerman
Member
Putin takes aim at US shale oil industry
Oil prices crashed Sunday evening after Saudi Arabia launched a price war against Russia following the Kremlin’s decision not to agree to production cuts.
www.foxbusiness.com
Russia’s move looks to be a calculated one – both a response to U.S. sanctions and designed to target the U.S. shale industry, which is currently under significant financial distress.
D
Deleted member 1449
Guest
They can absorb a short term hit but US shale companies cannot.
Nerman
Member
Battle of the deepest pockets.
Yellow Snow
Member
The WSJ had a good article on the subject yesterday - this could be the end of OPEC.
OPEC, R.I.P.
Sunday’s spectacular oil-price collapse marks the effective end of the cartel’s power and a devastating setback for the U.S. shale patch.
www.wsj.com
Webberweather53
Meteorologist
S&P 500 ETF down nearly 8% at opening bell. Mayday
Dow is down 7%.