This current trend,,,a 1000+ a thousand - point swings,,,is something that few of us have ever seen. With the 5 day trading week the down days seem to get 3 out of the 5. If this current trend breaks to say 4 down days out of 5 then we are going to see some real carnage. Just the opposite if the up days rule the majority of any given week. The problem is that people are frightened regarding Covid 19. China was the epicenter of the outbreak and nobody trusts their reports of fewer cases. Now we look at Italy's numbers for reliability and it's not good. The overall markets were due for a correction but this virus created a perfect storm. What took me 50 minutes to drive now takes 25. I'm in South Florida and the grocery shelves are barren, bars ordered closed, no sporting events, churches closed, schools closed, daycare suspended and so on. Someone has to stay home with the kids and small businesses are taking it on the chin. How bad and long reaching this situation gets is anyone's guess but one thing for sure is that small deployments of the National Guard are being activated here and there which tells me that bigger plans will be announced soon.
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