S&P took quite a hit today - page 4.

exstasie

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Quote from: jackg on February 24, 2020, 03:10:12 PM

I'm looking at reports and a lot of them are saying it's due to the coronovirus, I don't know how much of an impact that would have on the American markets but it looks to be quite a big one, my small position lost $100 in profit since Friday. The rest of the international markets I.e the vuk and ftse 100uk also look to have responded but they seem to be a delayed response (unless anythings got worse that I haven't noticed from ignoring mainstream media and its general fear mongering).

You weren't kidding. That's one heck of a gap down on the daily chart! Haven't see one this big in years.

It also looks like an exhaustion gap, which could usher in a larger bearish correction. https://www.investopedia.com/terms/e/exhaustiongap.asp

Keep in mind, the S&P 500 is only down 5% from its ATH, reached last week. We were at this price 3 weeks ago. This is nowhere near a "crash" yet.

Something to consider though: if the coronavirus does end up developing into a major pandemic, it could usher in a recession quicker than I've been anticipating. Undecided

YuginKadoya

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I also think that it is not from the virus as well but the lingering fear from the people because of the virus is surely in it, but I really think that there is no effect on the market of crypto but with just the people itself,

But we can not set aside the problem on the coronavirus issue as a small kind of problem, There are many affected and not only China is involved here but the whole world itself it becomes a global threat in my opinion and as we speak it will just keep it worst day by day.

The Sceptical Chymist

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I have a feeling that drop wasn't due to any virus. The stock market has been on a tear for years now and I'm surprised we haven't seen more of these 3-4% corrections--and hell, I remember when the S&P 500 was stuck below 1000 for the longest time. I'm sure a big event like a viral contagion can affect things, but I just don't think it's that in this case. Could be wrong, of course.

There was a website that showed the death toll from corona virus, but I forgot what it is. Is the number getting much bigger or what? In any event, I don't think it's anywhere near the death toll from 9/11, and that's a big event that actually did affect the stock market for quite a while.

jackg

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https://bit.ly/387FXHi lightning theory

Quote from: TheAndy500 on February 24, 2020, 03:19:11 PM

I think that if the situation in China does not improve, in the long run, it may affect the increase in cryptocurrency prices.

Well if some stocks fall because of it then I can see bitcoin and ethereum taking a bit of an advantage over this since they've proved to be 'fairly' stable so far while the other markets haven't been and even quite a bit more prosporous...

It does look a lot like a retracement in the stock market though, as if it isn't irrecoverable and it may be nearing the bottom of its immediate correction. It did look to be stabalising and moving slightly upwards just before I wrote this, but not as much as it could so it'll likely either keep moving sideways or go up in the immediate term.

TheAndy500

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Coronavirus, or rather the fact that the industry in China has been very much limited, will certainly have an impact on the economy around the world. I am not sure how this could affect FIAT money rates. However, if stock prices fall on classic exchanges, then some capital should move to the cryptocurrency market. I think that if the situation in China does not improve, in the long run, it may affect the increase in cryptocurrency prices.

jackg

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https://bit.ly/387FXHi lightning theory

I'm looking at reports and a lot of them are saying it's due to the coronovirus, I don't know how much of an impact that would have on the American markets but it looks to be quite a big one, my small position lost $100 in profit since Friday. The rest of the international markets I.e the vuk and ftse 100uk also look to have responded but they seem to be a delayed response (unless anythings got worse that I haven't noticed from ignoring mainstream media and its general fear mongering).

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