• [stock-market-ticker symbols="AAPL;MSFT;GOOG;HPQ;^SPX;^DJI;LSE:BAG" stockExchange="NYSENasdaq" width"100%" palette="financial-light"]

    Trading Halted on NYSE Minutes After Opening

    March 9, 2020
    1 Comment

    The Dow is wiping out gains made over the past year as traders sell, sell, sell on news of coronavirus contagion, oil prices collapsing and low long term interest rates. The "circuit breakers" were triggered when the S&P 500 fell 7% on opening and the prospects for a wild day of trading set in.

    Stock Market
    Market sells off on virus and oil uncertainty
    photo by Pixabay CCO 1.0

    The world wide spread of coronavirus is negatively impacting travel, trade and public gatherings around the world. Conferences, religions gatherings from Mecca to Rome and public sporting events have all been canceled in an abundance of caution to contain the spread of COVID-19.

    On top of the economic uncertainty resulting from the "black swan event" of a potential world wide pandemic there is now a collapse in the energy market. Over the weekend the Saudi and Russian oil producers could not agree on an approach to stabilizing oil prices by limiting production and the bottom fell out of the market. With prices of crude oil falling by half the prospect of financial turmoil for domestic U.S. energy companies is a certainty.

    Trading stabilized when the markets reopened after a 15 minute halt but all eyes are on the Dow to see if uncertainty triggers a second sell off.



    CDM Staff

    The mission at Creative Destruction Media is to be the catalyst for the "process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one."
  • Subscribe
    Notify of

    1 Comment
    Inline Feedbacks
    View all comments

    Corona Virus Panick is disrupting everything, if people don't stop their ridiculous behavior towards Covid variant Omicron then you are sacrificing everything you have on what is no worse than the common cold. SMARTEN UP YOU IDIOTTS!


  • Subscribe to our evening newsletter to stay informed during these challenging times!!