Dow's 4th-worst loss in history
“The Dow had its worst day since 1987, plunging about 10%, despite moves by the Fed and ECB to calm markets,” the WSJ reports at the end of a grim trading day Thursday.
The 10 percent drop is the worst since 1987's Black Monday.
Benchmarks fell more than 8% as the S&P and Nasdaq joined the Dow in new bear-market territory.
From the WSJ:
The U.S. stocks sell-off that pushed the Dow Jones Industrial Average into a bear market continued at a furious pace Thursday as the coronavirus pandemic threatened to deeply harm global growth.
The S&P 500 shed more than 7% shortly after the opening bell, sending that index into bear market territory and triggering a 15-minute halt in trading. The drop marked the second time this week that a rarely-used circuit breaker was triggered.
COVID-19 sure has created some weird shortages. Clorox disinfectant wipes are one such product.
“Hammer Time” becomes “Sanitize” when Dr. Quentin J. Lee an Alabama principal, “sings a rap song about Covid to MC Hammer’s classic hit of ‘Can’t Touch This.'”
Behind the sensationalist headlines about the largest pullback in US history, there’s a lot of nuance and complexity, but the overall message is clear: the US economy is in big big trouble, especially the services sector. Economics Explained takes a deep dive and asks the question: is this the end of an empire?.
Now that the initial furor and shortages have subsided, it’s probably not a bad time to start considering your long-term cleaning and disinfecting plans. Sure, that might seem anywhere from overly cautious to outright ridiculous, but the threat of COVID-19 appears poised to be present for a while and the need for quick travel clean-up […]
With more and more companies moving all their operations into the cloud, the need has never been greater for those with the skills to map exactly how an organization reconstitutes itself in that new environment. Network architects responsible for determining all the communication, storage, and infrastructure needs of an expansive organization are among the most […]
Even after months of working from home, you’d be forgiven for thinking the whole experience still doesn’t quite feel…well, normal. In addition to all the obvious environmental changes of handling your 9 to 5 from your den or dining room table, the technological aids you didn’t realize you loved back at the office probably don’t […]