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Spreadsheet Ranger

The 2020 Financial Crisis

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Posted (edited)

Figured I might as well carve this thread in stone.

 

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Futures contracts tied to the major U.S. stock indexes dove early Thursday after an address from President Donald Trump failed to quell concerns over the possible economic slowdown from the coronavirus. 

 

Futures on the Dow Jones Industrial average, the S&P 500 and Nasdaq-100 all traded at the so-called limit down threshold, off by 5%. Dow futures implied a loss of more than 1,100 points at the open. The SPDR S&P 500 ETF Trust (SPY), which tracks the S&P 500, was down 5.5% in the premarket. 

 

Exchanges halt trading of futures contracts if they drop by more than 5%, acting as a floor for selling until regular trading resumes at the opening bell at 9:30 a.m. ET. After stocks open in regular trading, the S&P 500 must drop by 7% before triggering the New York Stock Exchange’s circuit breaker, which halts trading temporarily.

 

Thursday was the second time this week that exchanges were forced to halt futures trading prior to the market open: Futures hit a similar “limit down” prior to the opening of normal trading Monday morning. Later that day, the S&P 500 also hit NYSE’s 7% circuit breaker and the Dow fell more than 2,000 points.

 

Source: https://www.cnbc.com/2020/03/11/futures-are-steady-wednesday-night-after-dow-closes-in-bear-market-traders-await-trump.html

 

Edited by Spreadsheet Ranger

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South Africa’s benchmark stock index plunged the most since the market crash of October 1997 as reaction to U.S. measures aimed at curbing the spread of the coronavirus accelerated the sell-off sweeping through global equities.

 

The FTSE/JSE Africa All Share Index sank as much as 9.3% as of 3:34 p.m. in Johannesburg. Naspers Ltd., South Africa’s biggest stock, fell 7.1% to weigh heaviest on the overall market.

 

Mining stocks plummeted 14%, set for a record decline. All but three of the benchmark’s 158 members were lower Thursday as selling by risk-averse investors spread to all sectors.

 

https://www.moneyweb.co.za/news/markets/jse-stocks-plunge-the-most-since-1997-in-panic-sell-off/

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Palladium just took a noise dive while I was sleeping. The one day you are up almost 20%, then next you are down almost 20%...


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And I see some platinum miners have made some kind of breakthrough which means it can be used in the auto industry instead of palladium, so that might trigger a price surge.


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What are you guys doing with your TFSA's ?

I saw Bandit cashed out.

 

What are the rest of you up to ?

Riding it out, or pumping more money into it ?

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So what's the score ?

Do we wait it out or are there some possible " bargains" to be had ?

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9 hours ago, e4et said:

What are you guys doing with your TFSA's ?

I saw Bandit cashed out.

 

What are the rest of you up to ?

Riding it out, or pumping more money into it ?

 

I'm hodling (using bitcoin terminology). I haven't sold anything, and I will buy my R3000 TFIA on the 25th as usual. Rand-cost averaging, I suppose. It will go up again - it always does.

 

You own the shares, whether high or low. You only make a loss if you sell low.

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10 hours ago, SaurusDNA said:

You own the shares, whether high or low. You only make a loss if you sell low.

 

Yeah, too late to sell now. If you're still in you've made your bet and best to ride it out.

 

I do wish I paid more attention (the curse of passive investing) else I would've cashed out earlier and bought government bonds. By the time I woke up it was already inflated.


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