Stock Market Roller Coaster, As Panic Selling Prolong

Published by Kathy Newton March 13, 2020 Categorie(s): Latest News

Stock market

The stock market has tremendously suffered from a massive drop of 2,300 points as panic selling continues. For the second time this week, the stock market has come to a 15-minute halt of trading amid the coronavirus crisis.

Dow Jones Industrial Average massively fell 2,352 points and that is nearly 10% the first biggest drop since 1987. Moreover, the S&P 500, as well as the NASDAQ, were also down with more than 9%.

Nevertheless, the said indexes are now on a downwards curve with at least 27% from the highest record set the previous month. Dow Jones is now down with nearly 8,400 points from its peak on February 2.

This Thursday, the stock market drop led to a close to 6% plunge, and that has caused a major effect in the Dow exchange.

On the other hand, the stock market massive drop came after US President Donald Trump made an announcement on a 30-day travel ban on visitors from European countries. Trump highlighted that it was an effort to make sure that they prevent the spread of coronavirus. This move caused a lot of misunderstanding on all sides of the Atlantic and it triggers scepticism from various health specialists.

Trump Shields Travel Ban

As the exchange rates continue to tumble, Trump has defends the travel ban, highlighting that the stock market will surely bounce back.

The US President brief reporters that the ban is the only to protect American citizens from the spreading coronavirus. At the same time, he made a prediction that the stock market will surely bounce back.

“It’s not important compared to life and death,” Trump said during his meeting with the Irish Prime Minister Leo Varadkar at the Oval office.

“You have to have a separation, or this thing takes longer to go away,” he highlighted. Donald Trump highlighted that he didn’t warn the European leader before making his decision. “It takes a long time to make individual calls”, but he managed to spoke to some leaders within the continent.

Bull vs Bear market

Surely, nothing good lasts forever, and not even the magnificent rising of stock market exchange that keeps on going up.

Amid coronavirus infection, most investors are now kissing goodbye to the longest-running bulls in the stock market exchange history.

Well, the same cannot be said about online casino gambling. Real money casino players have been spared of the coronavirus infection since they are able to play real money games from the comfort of their homes.

Elsewhere, the Dow Jones Industrial Average is now in the bear market whereas it has declined with more than 20%. However, as of Thursday, the blue-chip index also faced a massive drop to nearly 8,400 points and that is a staggering 28%.

As coronavirus, dominate every aspect of the global livelihood. Analysts have highlighted that the market is not exactly the economy. But a bear market is a true reflection that can causes a lot of anxieties about the performance of the economy.

This is reported as the worst bear market in history since the Great Depression and the Great Recession.