# Stock Markets, Tariffs, Coronavirus **URL:** \ **Category:** Great Debates\ **Created:** [February 24, 2020, 9:02pm UTC](https://boards.straightdope.com/t/stock-markets-tariffs-coronavirus/848451 "2020-02-24T21:02:39Z")\ **Posts on this page:** 20\ **Page:** 11
**Author:** ![asahi](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/asahi/32/8693_2.png) [@asahi](https://boards.straightdope.com/u/asahi)\ **Post date:** [March 16, 2020, 2:25am UTC](https://boards.straightdope.com/t/stock-markets-tariffs-coronavirus/848451/201 "2020-03-16T02:25:03Z")
> [@asahi](#): > > If he really cared, he’d find ways to make sure that the money goes right into the hands of the consumer; instead it’s going into the banks’ hands. > > A bigger problem, though, is that Jay Powell’s being bullied into making political decisions. **The Fed is increasingly subject to political manipulation, and that’s bad.** And it looks like futures markets agree with me: they no longer trust the fed, but what this really means is that they no longer trust that this mother fucking ape of a president knows what he doesn’t know and to keep his fingers off the controls of the economy. I said it before, and yes, I will say it again: this country is headed for an economic dip. The question is, how bad will it be, and the answer to that question will depend on the response. Presidents have no control over a recession - in most cases they can’t be blamed for them. But they can be blamed for how they respond. The signs for this president and for this economy are ominous. ---
**Author:** ![JohnT](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/johnt/32/15048_2.png) [@JohnT](https://boards.straightdope.com/u/JohnT)\ **Post date:** [March 16, 2020, 4:22am UTC](https://boards.straightdope.com/t/stock-markets-tariffs-coronavirus/848451/202 "2020-03-16T04:22:58Z")
Congratulations to the GOP for giving America not just the Greatest of Recessions, not just the Greatest of Depressions, but also the current shitshow which will likely need a modifier greater than “Great”. Ah! I got it! #TheBiglyDepression ---
**Author:** ![JohnT](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/johnt/32/15048_2.png) [@JohnT](https://boards.straightdope.com/u/JohnT)\ **Post date:** [March 16, 2020, 4:39am UTC](https://boards.straightdope.com/t/stock-markets-tariffs-coronavirus/848451/203 "2020-03-16T04:39:45Z")
I will say that I am a bit surprised (stupid me) as to how quickly Trump ruined the economy. I figured 5 years, 6 at most. He took 3. ---
**Author:** ![JohnT](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/johnt/32/15048_2.png) [@JohnT](https://boards.straightdope.com/u/JohnT)\ **Post date:** [March 16, 2020, 4:41am UTC](https://boards.straightdope.com/t/stock-markets-tariffs-coronavirus/848451/204 "2020-03-16T04:41:17Z")
Will the market close tomorrow below what it was on 1/19/2017? Hell, will it _open_ below 1/19/2017? ---
**Author:** ![GreenWyvern](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/greenwyvern/32/2834_2.png) [@GreenWyvern](https://boards.straightdope.com/u/GreenWyvern)\ **Post date:** [March 16, 2020, 9:21am UTC](https://boards.straightdope.com/t/stock-markets-tariffs-coronavirus/848451/205 "2020-03-16T09:21:35Z")
Excellent video with a lot of common sense: [Yanis Varoufakis on the economic & political impact of the coronavirus](https://www.youtube.com/watch?v=Mm-wpDZkie4) ---
**Author:** ![JohnT](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/johnt/32/15048_2.png) [@JohnT](https://boards.straightdope.com/u/JohnT)\ **Post date:** [March 16, 2020, 11:30am UTC](https://boards.straightdope.com/t/stock-markets-tariffs-coronavirus/848451/206 "2020-03-16T11:30:32Z")
The Bigly Depression is coming. It may already be here. For reference purposes, here is the state of the market on the last full day of the Obama Administration: > **[Dow Jones Close 1/19/17 Stock Market Closing Prices](http://daytradingstockblog.blogspot.com/2017/01/dow-jones-close-11917-stock-market.html?m=1)** > > Stock Market Closing Prices - January 19, 2017 Dow Jones Industrial Average ( DJIA ) Close - 19742.58 Down 61.14 Nasdaq Stock Market Clos... DJIA: 19,742 NASDAQ: 5,543 S&P 500: 22,263 Oil: 52.38 Gold: 1,206 Silver: 17.04 ---
**Author:** ![septimus](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/septimus/32/410_2.png) [@septimus](https://boards.straightdope.com/u/septimus)\ **Post date:** [March 16, 2020, 12:43pm UTC](https://boards.straightdope.com/t/stock-markets-tariffs-coronavirus/848451/207 "2020-03-16T12:43:00Z")
> [@GreenWyvern](#): > > Excellent video with a lot of common sense: > > [Yanis Varoufakis on the economic & political impact of the coronavirus](https://www.youtube.com/watch?v=Mm-wpDZkie4) Thanks for the link! Common sense … but common sense is often lacking in today’s America. Yanis Varoufakis has a PhD in economics, has published books, has founded a political party (MeRa25 is part of the Democracy in Europe Movement 2025), and has served as Finance Minister. ---
**Author:** ![JohnT](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/johnt/32/15048_2.png) [@JohnT](https://boards.straightdope.com/u/JohnT)\ **Post date:** [March 16, 2020, 1:39pm UTC](https://boards.straightdope.com/t/stock-markets-tariffs-coronavirus/848451/208 "2020-03-16T13:39:08Z")
Dow open 2,250 points lower. Down 9.71%. Trading immediately halted. I’m not 100% on this, but this may be a speed record on halting trading. Last week we had a 4 minute gap between opening and halting, now I’m reading it was halted immediately upon opening. ---
**Author:** ![JohnT](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/johnt/32/15048_2.png) [@JohnT](https://boards.straightdope.com/u/JohnT)\ **Post date:** [March 16, 2020, 1:43pm UTC](https://boards.straightdope.com/t/stock-markets-tariffs-coronavirus/848451/209 "2020-03-16T13:43:56Z")
BTW, since Friday, the Fed has injected $2.25 trillion into the markets via QE and RBMS supports, and frankly I don’t know enough about the Repo markets to confidently speak to them, but the injections into those, _daily_, have equaled our military budget. Yes, _each day_. And it’s all vanishing. ---
**Author:** ![running\_coach](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/running_coach/32/15836_2.png) [@running\_coach](https://boards.straightdope.com/u/running_coach)\ **Post date:** [March 16, 2020, 1:46pm UTC](https://boards.straightdope.com/t/stock-markets-tariffs-coronavirus/848451/210 "2020-03-16T13:46:40Z")
> [@JohnT](#): > > Dow open 2,250 points lower. Down 9.71%. Trading immediately halted. > > I’m not 100% on this, but this may be a speed record on halting trading. Last week we had a 4 minute gap between opening and halting, now I’m reading it was halted immediately upon opening. Trading is resumed and it’s down over 2700. ---
**Author:** ![JohnT](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/johnt/32/15048_2.png) [@JohnT](https://boards.straightdope.com/u/JohnT)\ **Post date:** [March 16, 2020, 2:07pm UTC](https://boards.straightdope.com/t/stock-markets-tariffs-coronavirus/848451/211 "2020-03-16T14:07:46Z")
Guys and gals, I think I’m just going to have to wait on that much-needed [post 135 update](https://boards.straightdope.com/sdmb/showpost.php?p=22181215&postcount=135). At least for the duration of the emergency. ---
**Author:** ![JohnT](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/johnt/32/15048_2.png) [@JohnT](https://boards.straightdope.com/u/JohnT)\ **Post date:** [March 16, 2020, 2:10pm UTC](https://boards.straightdope.com/t/stock-markets-tariffs-coronavirus/848451/212 "2020-03-16T14:10:52Z")
This may be premature, but I, for one, would like to offer my congratulations to Herbert Hoover. It took 90-odd years, buddy, but you’re likely no longer on the hook as the President who did the most damage to the American economy. ---
**Author:** ![Oredigger77](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/oredigger77/32/3181_2.png) [@Oredigger77](https://boards.straightdope.com/u/Oredigger77)\ **Post date:** [March 16, 2020, 2:15pm UTC](https://boards.straightdope.com/t/stock-markets-tariffs-coronavirus/848451/213 "2020-03-16T14:15:35Z")
Trump is going to open his yap again this afternoon. I know there is a limit where they stop trading for the day. I wonder if we hit it during his speach. ---
**Author:** ![JohnT](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/johnt/32/15048_2.png) [@JohnT](https://boards.straightdope.com/u/JohnT)\ **Post date:** [March 16, 2020, 2:19pm UTC](https://boards.straightdope.com/t/stock-markets-tariffs-coronavirus/848451/214 "2020-03-16T14:19:59Z")
We already hit it. And, if I recall correctly, that’s it for the day - no more circuit breakers. ---
**Author:** ![MortSahlFan](https://avatars.discourse-cdn.com/v4/letter/m/3bc359/32.png) [@MortSahlFan](https://boards.straightdope.com/u/MortSahlFan)\ **Post date:** [March 16, 2020, 2:20pm UTC](https://boards.straightdope.com/t/stock-markets-tariffs-coronavirus/848451/215 "2020-03-16T14:20:40Z")
> [@GreenWyvern](#): > > Excellent video with a lot of common sense: > > [Yanis Varoufakis on the economic & political impact of the coronavirus](https://www.youtube.com/watch?v=Mm-wpDZkie4) Yeah, he’s great. Most trusted economist. ---
**Author:** ![GIGObuster](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/gigobuster/32/421_2.png) [@GIGObuster](https://boards.straightdope.com/u/GIGObuster)\ **Post date:** [March 16, 2020, 2:57pm UTC](https://boards.straightdope.com/t/stock-markets-tariffs-coronavirus/848451/216 "2020-03-16T14:57:40Z")
> [@JohnT](#): > > We already hit it. And, if I recall correctly, that’s it for the day - no more circuit breakers. According to Barrons, there is another breaker if the market goes under a 13% decline. [https://www.barrons.com/articles/wall-street-is-bracing-for-another-day-of-big-losses-in-the-dow-51584362387](https://www.barrons.com/articles/wall-street-is-bracing-for-another-day-of-big-losses-in-the-dow-51584362387) ---
**Author:** ![JohnT](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/johnt/32/15048_2.png) [@JohnT](https://boards.straightdope.com/u/JohnT)\ **Post date:** [March 16, 2020, 3:23pm UTC](https://boards.straightdope.com/t/stock-markets-tariffs-coronavirus/848451/217 "2020-03-16T15:23:54Z")
Thanks! I was looking for confirmation, but got called into a meeting. Also, in a conference call which just ended, USAA… one of the larger insurance companies in America… is looking at going 100% work-from-home. ---
**Author:** ![Oredigger77](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/oredigger77/32/3181_2.png) [@Oredigger77](https://boards.straightdope.com/u/Oredigger77)\ **Post date:** [March 16, 2020, 4:00pm UTC](https://boards.straightdope.com/t/stock-markets-tariffs-coronavirus/848451/218 "2020-03-16T16:00:58Z")
Apparently, the one I was thinking of was a [20% drop in the S&P500](https://www.marketwatch.com/story/us-stock-index-futures-trigger-limit-down-rule-heres-how-limit-rules-and-stock-market-circuit-breakers-work-2020-03-16?mod=home-page) then trading is shut down for the rest of the day. ---
**Author:** ![D\_Anconia](https://avatars.discourse-cdn.com/v4/letter/d/67e7ee/32.png) [@D\_Anconia](https://boards.straightdope.com/u/D_Anconia)\ **Post date:** [March 16, 2020, 5:02pm UTC](https://boards.straightdope.com/t/stock-markets-tariffs-coronavirus/848451/219 "2020-03-16T17:02:05Z")
> [@Oredigger77](#): > > Trump is going to open his yap again this afternoon. Where are you seeing this? C-Span is saying it’s going to be the Vice President. ---
**Author:** ![JohnT](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/johnt/32/15048_2.png) [@JohnT](https://boards.straightdope.com/u/JohnT)\ **Post date:** [March 16, 2020, 5:29pm UTC](https://boards.straightdope.com/t/stock-markets-tariffs-coronavirus/848451/220 "2020-03-16T17:29:22Z")
To the lie which is American capitalism, note that we are a mere 4 weeks from all-time market highs and now we have zero rates, $700B in QE, $500B in repos, and a $1.5 trillion RBMS injection… … and it’s still not enough to save the system. [Previous page](https://boards.straightdope.com/t/stock-markets-tariffs-coronavirus/848451.md?page=10) [Next page](https://boards.straightdope.com/t/stock-markets-tariffs-coronavirus/848451.md?page=12)