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Total Meltdown: Global Markets Collapse On Virus, War Panic
Global stocks were in meltdown mode on Friday as virus anxiety conspired with worries about an immin
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One additional continent (Africa) was added today, which is alarming due to the lack of healthcare facilities there.
Hong Kong has 94 cases not 84. I live here and am acutely aware of the numbers. Fortunately, since everyone here wears a mask, it feels incredibly safe.
Cramer was a blithering idiot on CNBC this morning, blathering on about how he was going to put 25 percent of the cash in his travel trust into well-chosen stocks, even through he’s pretty sure markets will be down again on Monday. (Good advice, Jim.) he was right about one thing, though: the algos in control. What we’re watching is a major-league version of the flash crashes we’ve experienced over the last couple, three years. The machines, it would seem, are even more prone to herding behavior than humans. Can never be proved, but I seriously doubt we would’ve seen a decline this fast and sharp if not for algorithmic trading.
Think of how many 60+ boomers are watching their retirement savings evaporate in front of their eyes.
And I suspect more than a few may head to cash exacerbating the issue.