Discussion » Statements » Rosie's Corner » Markets just openend and the DJI is DOWN 1800 points? How is that possible?
RosieG

Markets just openend and the DJI is DOWN 1800 points? How is that possible?

How can it plunge so far so fast? I don' get how the stockmarket works.

Posted - March 9, 2020
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Responses


  • 34979
    People panicking.  If you got some extra money, there should be some good buys out there to be had. 
      March 9, 2020 7:38 AM MDT
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  • 113301
    I think a lot of is automatically triggered by programs set in place to react when stocks reach a certain level. Thank you for your reply m2c.
      March 9, 2020 8:35 AM MDT
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  • 19937
    There is overnight trading and the markets on the other side of the world are open.
      March 9, 2020 8:27 AM MDT
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  • 113301
    Thank you for the info L. It gobsmacked me how quickly it dove. Wonder where today will end? Thank you for your reply and Happy Monday! :)
      March 9, 2020 8:34 AM MDT
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  • 19937
    I have chosen not to look where the market lands or rises.  It will only make me nuts.  :)  Happy Monday. :)
      March 9, 2020 2:41 PM MDT
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  • 113301
    I am mesmerized by it but detached. We're not affected by it at all. We have annuities that are not tied to the stock market so for us it's just very wild and weird and frankly unbelievable. I hope you are not being adversely affected financially L. Thank you for your reply! :)
      March 10, 2020 3:24 AM MDT
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  • 19937
    Glad to hear your income is relatively safe.  I do have some stocks and bonds, so there will be some adverse effects for me, but not unduly so.  I also have annuities not tied to the market, I am still working 3 days a week which is good, but if everything else fails, I can live on my Social Security.  I just feel bad for people who aren't in such a solid position.  
      March 10, 2020 7:05 AM MDT
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  • 113301
    DJI shot up about 1000 pts at open on news of a stimulus package dumb don and his cabal et al are supposedly going to discuss today. Don't know where it is right now. Dumb don specifically said he is meeting with REPUBLICANS and mentioned Mitch McConnell. Clearly DEMS are disinvited. What a swell guy! Thank you for your reply L. We have annuites not tied to the market either. I know you have a very good head on your shoulders sweetie. I'm glad you won't have financial worries. Living within your means is always the best way to live a life! Happy Monday! :)
      March 10, 2020 7:18 AM MDT
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  • 19937
    I've pretty much always lived within my means.  When I started to seriously think about my retirement, I made sure that I had no debt and started putting money away.  Then I was recommended to a very good financial adviser and he has advised me very well.  Happy Tuesday. :)
      March 10, 2020 7:27 AM MDT
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  • 113301
    I don't doubt it my friend. I am ALWAYS attracted to very smart people. I've been very lucky to have them befriend me. I'm not sure why exactly. But you know L there is an Armenian saying that when translated says "If the soup tastes good don't stir it up to see what's at the bottom". Or "don't look a gift horse in the mouth"? ((hugs)) This post was edited by RosieG at March 10, 2020 7:40 AM MDT
      March 10, 2020 7:33 AM MDT
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  • 19937
    LOL ... I like that saying.
      March 10, 2020 7:40 AM MDT
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  • 113301
    I thought you would. It can be used in any quantity for any occasion! :)
      March 10, 2020 7:42 AM MDT
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  • 17035
    The only shares I own are those that came as part of my salary package. Origin is exposed to oil, so those fell sharply. If I relied on them, I'd be worried. I don't - yet.

    This particular crash will be blamed on coronavirus, but that's not the whole picture. Russia refused to consider OPEC's production cuts to prop up the price of crude, so the bottom has fallen out of the glutted oil market. The stuff is cheaper than it has been for over a decade.
      March 10, 2020 7:55 AM MDT
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