#STS: Save The Stocks
Somebody needs to save the stocks.
US equities turned sharply lower mid-morning on Tuesday, dashing hopes that Monday's nightmare on Wall Street would be at least partially erased once the opening bell sounded on a new cash session. Regardless of how things turn out, the action was not inspiring to the extent you were expecting an immediate snap-back.
To be sure, the virus news flow is weighing heavily on sentiment. South Korea and Italy are "hot zones" (so to speak) and some fear the worst in
“We are asking the American public to work with us to prepare in the expectation that this could be bad,” Dr. Nancy Messonnier, a top official at CDC, told reporters on a conference call.
Somebody is going to get fired.
And cue Larry Kudlow to announce that the US has contained the virus, there will not be an economic tragedy, and there are no supply disruptions.
Oh Larry……
There aren’t any dip buyers because the cast majority if investors are “all in”. The level of bullishness was insane. Not much mention of FOMO and TINA last few days…………………