Just a few minutes ago we hit another record low. The nasdaq of course is obviously under stress as well, down triple digits. Then of course, the Dow Jones Industrials completely lower by 1,862 points, although i would point out the low of the session is a loss of 2,096. Let me take you back to four minutes after the open. Stocks fell so aggressively that the First Circuit breaker as its called, the level, level 1, to halt trading kicked in and that exact trigger would be the s p 500 hitting level 1, a loss of about 7 at that time. Now, after 15 minutes, this is what the dow was doing earlier on the new york Stock Exchange, after 15 minutes of the halt, stocks then reopened and thats when the dow promptly fell 2,046 points. At its low, 9 50 a. M. Eastern time exactly, coming within 200 points of a bear market level. In the last 15 minutes, the dow hit another new intraday low so we can change that 2,158, 2,158. Lets talk about oils response to this deadly Coronavirus Impact on the glob
Joint action. Saudi arabia wants producers to agree on additional cuts of one Million Barrels per day. Nejra what a wipe out on wall street. We will get to that in a moment, but first, breaking headlines coming through. We are still in earnings season. Basf sees significant first half Coronavirus Impacts on the Global Economy, and it sees 2020 point 2 ebit of four billion euros to 4. 8 billion euros versus 4. 5 billion euros in 2018. Those are the two red headlines. They are saying they do not expect the virus effect to be fully offset over the years, so some important headlines coming through on the impact of coronavirus. Elsewhere in the numbers, it is proposing a full year Dividend Per Share meeting the highest estimate, but it sees a significant first half Coronavirus Impact on the Global Economy, bracing for a possible profit drop on coronavirus but also the slump in autos. That is the main takeaway here, adding to industrial gloom by adding to the profit drop due to the impact of
Home prices up 3. 8 year on year. Roadmap begins with a turnaround tuesday. Stocks set to bounceback as markets attempt to recover from the worst drop since 2018. The drug maker shipping the first batch of this Coronavirus Vaccine as the World Health Organization warns the outbreak has the potential to become a pandemic. And the top performer sector just last week losing more than 200 billion in market value yesterday and set to fall again at the open today. As stocks come off, as we said, the worst day in the couple years, the coronavirus numbers continue to climb both in and outside china. Total confirmed cases exceed 80,000. Deaths surpassing 2,700, heading into the session the downd at s and the s p are in negative territory. We have croatia, bahrain added some. The Iranian Deputy Health minister tested positive. You cant read all the headlines theyre coming too quickly. And i think iran and italy are the two that i think people are focused on. But all these others, they always in
Ss . The Trump Administration promising help for businesses big and small affected by the coronavirus outbreak. The cruise industry, will it be first in line, hat in hand, after getting soaked yesterday . Cruise line stocks are still getting buffeted by wild investor winds this session with major names halted multiple times in hopes of the government throwing the industry a life preserver. One of the worlds leading Infectious Disease experts faces off against cruise industry guru the cruise guy. He says cruise ships should not be taking off at all until the virus is better understood, while stuart says he would jump on one and travel the high seas right now. Stay tuned for that debate. One of the most respected Bank Analysts in the nation waved the warning flag on bank stocks five weeks ago. Dick bove way back on february 3rd said stay away from Financials Due to this mystery virus that appeared to be spreading back then in china. Dick is back today in a fox business exclusive. We will
With thetoday coronavirus fears, im taking a look at volatility. The vix has its biggest spike on a weekly basis going back to august. Mark sebastian said something that caught my attention. He thinks there is the possibility that monday could turn out to be similar to the black monday in august of 2015 when the dow at one point was dow 1000 points down 1000 points. There is a possible super spike in the making. There are lots of different ways to look at the vix. The point im making is we have higher lows going into what happened in 2008 back in 20142015. Ahead of the 2016 correction, we had a similar situation. Right now, we have higher lows telling you volatility is on the rise and we could see some sort of super spike. Taylor i wanted to fold in what you are talking about with Market Expectations given the coronavirus and growth expectations. This chart is all about those breakevens. Now down to 1. 6. 10year below that. This highlights the lack of inflation, the lack of growth expe