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Trading halted as U.S. stocks plummet

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Re: Trading halted as U.S. stocks plummet

#61

Post by SkyBelow »

whatshisface wrote: post #21
aazaa wrote: post #10

This will be blamed on COVID-19, but the problems go much deeper. Last year the Fed lost control of the repo market. the event was widely discounted at the time as an end-of-tax-year fluke. It wasn't. Six month ago, the yield curve inverted. People who should have known better said "this time is different." Speculators have been trained over the course of 10+ years to buy the dip. The Fed has your back. What we're se…

> Six month ago, the yield curve inverted. People who should have known better said "this time is different." How does your story jive with the fact that the yield curves went back to normal? Either they are an indicator or they aren't.

>Either they are an indicator or they aren't.

Third option is that it is an indicator as long as people aren't treating it as one, but once people react to it then it ceases having the power to indicate what is happening.

Re: Trading halted as U.S. stocks plummet

#62

Post by cesarb »

gzu wrote: post #36
Lagogarda wrote: post #8

first time since the 2016 U.S. presidential election after they fell more than the daily limit of 5%

Those were futures the night of the election... Futures have a hault at 5% Normal trading hours have the 7% stop

And from what I read, the futures did halt at 5% yesterday. So it was already sort of expected that the 7% stop would be hit today.

Re: Trading halted as U.S. stocks plummet

#63

Post by Waterluvian »

pureagave wrote: post #33
deugtniet wrote: post #2

Just to clarify the title: Trading was halted for 15 minutes.

Correct. 7% decline is a pause. If it drops 13% it will pause for another 15 minutes. If it drops 20% it will end trading for the day.

I'm going to say it. It can't possibly collapse 20% in one day... can it?

Re: Trading halted as U.S. stocks plummet

#64

Post by dreamcompiler »

aazaa wrote: post #10

This will be blamed on COVID-19, but the problems go much deeper. Last year the Fed lost control of the repo market. the event was widely discounted at the time as an end-of-tax-year fluke. It wasn't. Six month ago, the yield curve inverted. People who should have known better said "this time is different." Speculators have been trained over the course of 10+ years to buy the dip. The Fed has your back. What we're se…

The Market is like a supercooled liquid. It's been poised to freeze for months, just waiting for a crystallization seed. COVID-19 and the Saudis gave it two.

Re: Trading halted as U.S. stocks plummet

#65

Post by azhenley »

aswanson wrote: post #39
aazaa wrote: post #10

This will be blamed on COVID-19, but the problems go much deeper. Last year the Fed lost control of the repo market. the event was widely discounted at the time as an end-of-tax-year fluke. It wasn't. Six month ago, the yield curve inverted. People who should have known better said "this time is different." Speculators have been trained over the course of 10+ years to buy the dip. The Fed has your back. What we're se…

Correction is way overdue. Problem is, Fed has no ammo left with interest rates at near zero. We're in for rough days, people.

It is possible for interest rates to be negative. Not that I'm recommending that to happen!

Re: Trading halted as U.S. stocks plummet

#66

Post by deugtniet »

Waterluvian wrote: post #63
pureagave wrote: post #33

Earlier quoted context omitted.

Correct. 7% decline is a pause. If it drops 13% it will pause for another 15 minutes. If it drops 20% it will end trading for the day.

I'm going to say it. It can't possibly collapse 20% in one day... can it?

Based on the rules it cannot drop _more_ than 20% in a day :-)

There are examples of it happening in other countries though. Zimbabwe and Argentina come to mind for some crazy inflation and stock numbers.

Re: Trading halted as U.S. stocks plummet

#67

Post by 76543210 »

ailideex wrote: post #47
aazaa wrote: post #10

This will be blamed on COVID-19, but the problems go much deeper. Last year the Fed lost control of the repo market. the event was widely discounted at the time as an end-of-tax-year fluke. It wasn't. Six month ago, the yield curve inverted. People who should have known better said "this time is different." Speculators have been trained over the course of 10+ years to buy the dip. The Fed has your back. What we're se…

> This will be blamed on COVID-19 Good. Because I don't buy for a moment that without COVID-19 the situation would be what it is now. Hindsight is 2020 and predictions of doom and stock market collapse is a dime a dozen.

In 2013 I wouldn't be predicting a recession.

In 2017 after Trump announced tariffs and it was ~10 years since the last recession. I was concerned.

Maybe stock prices were fine, but multiple companies I've worked for became unprofitable and got rid of tens of thousands of contractors.

Recession? Definitions are toxic to the real problem.

Re: Trading halted as U.S. stocks plummet

#68

Post by Waterluvian »

aguyfromnb wrote: post #27
adreamingsoul wrote: post #25

(I'm not a trader) if I wanted to watch the market with a near-real-time dashboard, does that exist?

Koyfin: https://www.koyfin.com/home

"I don't know how to read most of this, but I do see that everything's red."

Re: Trading halted as U.S. stocks plummet

#69

Post by VikingCoder »

facethrowaway wrote: post #16

For reference, someone might want to post a chart of the gains the markets have made in the past 5 years. I would hardly call this a crash.

The largest daily point loss in the Dow is -1,190. Today we briefly hit -2030.

The 19th largest daily percentage loss in the Dow is -7.32%. Today we briefly hit -7.9%.

The 19th largest daily percentage loss in the S&P 500 is -7.18. Today we briefly hit -7.2%.

If you don't classify that as a "crash," then please state your criteria for us to examine. It may not be a major crash, but it's definitely notable.

https://en.wikipedia.org/wiki/List_of_largest_daily_changes_...

https://en.wikipedia.org/wiki/List_of_largest_daily_changes_...

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