April 20, 2020
A historic moment. The oil price fell below zero first time ever closing at minus US$37.63 as the fallout from the spread of the coronavirus leaves the world with more oil than it needs and nowhere to keep it. The reason why it went negative is there is no enough storage space and the demand has fallen off the cliff. So basically, people are paying to take their oil.
March 24, 2020
Another historic day in stock markets
The Dow rallied by over 11% to close up by over 2,100 points — only a day after a sell-off virtually erased all of the gains made since President Donald Trump was elected — and its best day in nearly 90 years. The S&P 500 Index had its strongest session since 2008, while the Nasdaq turned in its best performance in 7 days.
March 20, 2020
Stocks close at 3-year low in worst week since 2008; Trump era gains obliterated
March 18, 2020
Another historic day in the stock markets.
Some of the key events
-Circuit breaker was set off after S&P500 dropped 7%
-Everything got sold off, including, stocks, gold, oil, treasury .People are selling everything to raise cash.
-Oil at multi-year(18 years) low: U.S. crude fell $6.58, or 24.4 percent, to settle at $20.37 a barrel. U.S. crude futures have lost 56 percent over last 10 days
-The longest stretch of the days when stocks fell more than 4%
-Vix at highest point ever at 76.45
I have been following stock markets since 2002 and have never seen anything like this before, the stock rout
March 16, 2020
Today was another historic day in the stock markets. The Dow dived by 2,997 points, or 12.93%, and tumbled to 20,188.52, closing at its lowest level since May 2017 after Donald Trump warned the crisis may drag on well into the summer months. The sell-off represented the index’s biggest percentage decline since the “Black Monday” crash of 1987 — and the 2nd worst in its 100-plus year history — as well as its largest point decline on record.
The decline was so intense that it set off the circuit breaker ( after declining 7% ) within 15 seconds after trading started at 9:30 AM.
Future trading was also halted the previous evening after falling 5%
March 15, 2020
In an unprecedented move, The Federal Reserve Board announced this Sunday afternoon that it would be cutting interest rates by a full percentage point to zero for the first time since the financial crisis
Looks like The Fed is in full panic mode.
March 13, 2020
Another super volatile day in financial markets.
Stocks post monster gains; Dow surges 9% adding nearly 2000 points as Trump declares coronavirus emergency
The Bank of Canada Governor Poloz said he’s cutting the key overnight lending rate by 50 basis points to 0.75 percent.
Finance Minister Bill Morneau announced that $10-billion of immediate credit will be available to Canadian businesses impacted by the coronavirus through Ottawa’s Business Development Bank and Export Development Canada
He also promised to unveil a “significant stimulus package” next week, well before the March 30 federal budget.
March 12, 2020
Another historic day in financial markets around the world.
Stocks Plunge by the Most Since 1987
European stocks close 11% lower in worst one-day drop ever on coronavirus fears
March 9, 2020
Today was a historic day on Wall Street. Here are the main events:
Pre-market: Circuit breaker got triggered because of a 5% drop in the S&P 500 future
During Regular Market Hours:
Just after 3 minutes of market opening, the circuit breaker got triggered because S&P500 dropped more than 7%. After 15 minutes of break, markets resumed and continued going down. All the yield curve fell below 1%. (The entire US yield curve plunged below 1% for the first time ever. Here’s why that’s a big red flag for investors.)
By the end of the day, the indices were down as follows
23,851.02-2,013.76(-7.79%) – Biggest single day fall in history
March 5, 2020
Another down day in Financial markets. All the US indices were down by about 3% at the close
British airline Flybe went bankrupt
March 3, 2020
Today was a historic day in the financial world. The financial market had just started, around 10:00 am Eastern time, the Federal Reserve of the US announced that they are cutting the overnight interest rates by 50 basis points to contain the economic fallout due to the Coronavirus crisis. This was a historical move because there have been only 2-3 instances in history when interest cut decision was taken not during the regular Fed meeting. The last time the central bank cut the federal funds rate by a full 50 basis points outside of a regularly scheduled meeting was in October 2008, during the depths of the financial crisis. That action of the Fed spooked the markets and the markets went down by almost 2.5%. The Dow Jones went down by 785.91(-2.94%)
Another event taking place is the first time in history, the 10 year treasury yield fell below 1%
This clearly goes to show that investors have lost confidence in the Fed to overcome the financial crisis gripping the US and the entire world.