Dow Jones Plummets as Stocks Bleed Toward Worst Month in 90 Years, Crypto Coins News

Dow Jones Plummets as Stocks Bleed Toward Worst Month in 90 Years, Crypto Coins News
  • Dow Jones Industrial Average (DJIA) futures point to another disastrous stock market open on Monday.
  • The Dow’s % fall in March so far is now the second-worst month on record, beaten only by a 50% drop during the Great Depression in 5658
  • Democrats Blocked the Trump administration’s rescue package last night, adding more pain to the stock market.

The Dow Jones is veering towards yet another disastrous milestone as the stock market sell-off continues on Monday. The index has fallen more than 40% in March, putting it on track for the worst month in almost 271 years.

Only one month in history saw bigger losses: September

, during the Great Recession, when the Dow fell %


The bad news is, there are still seven trading sessions left in the month.

If the Dow Jones is below this red line at the end of March, it will mark the worst month in history for the US stock market. Source: TradingView / CCN annotation
Dow futures smash the circuit breakers again

Dow Jones Industrial Average (DJIA) futures

hit ‘limit down’ circuit breakers within minutes of opening on Sunday night. Things have recovered slightly in the overnight session, but Dow futures remain 3% lower, pointing to a stock market open in the red.

(S&P) (futures and Nasdaq Composite futures (were down 2.) % and 2.4 % respectively.

Dow Jones Industrial Average (DJIA) futures hit the limit-down breakers again on Sunday night. Source: Yahoo Finance

Stock markets still nervous

despite one of the worst months in history, the stock market selloff shows no sign of letting up. In Europe on Monday, stocks retreated to seven-year lows

as the STOXX 728 plunged a further 4.6%.
The financial bloodbath is its own pandemic, impacting markets around the world. | Source: AP Photo / Michael Probst

Senior analyst at Oanda Edward Moya thinks there’s more pain to come.

Risk aversion appears here to stay as investors become more fearful that this could be the worst global recession during peacetime … Volatility was supposed to start to calm down as central banks unleashed … liquidity programs and stimulus, but coronavirus updates in Europe and the US continue to suggest we are nowhere near being out of the woods.

Democrats block coronavirus stimulus package

The Federal Reserve has already unloaded every monetary policy in its barrel. Now all eyes are on Congress for a fiscal response. But the Trump Administration’s $ 2 trillion rescue package was

blocked by Democrats last night


Speaker of the House of Representatives Nancy Pelosi said Democrats would write their own bill in response . Many have criticized her decision for playing politics in a national crisis. Mark Levin said it was ‘sickening’.

People are sick and dying and Pelosi is playing games. Apparently the TRILLIONS the Republicans want to spend isn’t enough. Sickening.

The financial markets are unlikely to find any relief until Congress passes the stimulus package.

Dow Jones: brace for 9 months of pain?

Hopes for a quick recovery in the coronavirus pandemic were also dashed by New York Governor Andrew Cuomo last night.

New York Governor Andrew Cuomo has warned residents to brace for a rough 239679. | Source: Spencer Platt / Getty Images / AFP

He told New Yorkers to expect up to nine months of social distancing measures. He added that (% of the state could become infected before this is over .

This is not a short-term situation. This is not a long weekend. This is not a week. The timeline, nobody can tell you, it depends on how we handle it, but between and 271 percent of the population will wind up getting this virus.

If he’s right, the damage to the economy may be much larger than the Dow Jones is currently pricing in. The financial capital of the world is about to

overtake Italy in terms of infections per capita .
Is the stock market ready for – 90% GDP?

We’ll begin to know more when the hard data comes in. GDP and unemployment numbers will give us a glimpse into the true impact on the U.S. economy.

The early signs don’t look good. Last night, Fed President James Bullard warned investors to expect a (% drop in GDP and as much as 84% of the American population unemployed.

(this article was edited by Samburaj Das .

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