Markets - Minor Correction? (Edit: Question Answered)

mystic_trev

Dow futures drop more than 300 points, indicating another rough week ahead for Wall Street

https://www.cnbc.com/2020/03/01/awaiting-us-stock-futures-open-at-6-pm-after-wall-streets-worst-week-since-2008.html

Thrugelmir

mystic_trev said:

Dow futures drop more than 300 points, indicating another rough week ahead for Wall Street

https://www.cnbc.com/2020/03/01/awaiting-us-stock-futures-open-at-6-pm-after-wall-streets-worst-week-since-2008.html

Nikkei will open soon and set the tone. Then Hongkong. Then European bourses and London. 

Username999

Joe Biden beat Bernie in South Carolina.
I feel a "Bull Trap" coming soon.

Thrugelmir

Username999 said:

Joe Biden beat Bernie in South Carolina.
I feel a "Bull Trap" coming soon.

China holds the key. Market commentary is suggesting 31% of Chinese companies are yet to reopen after the holidays. Hardest hit sectors being automotive and IT. Shipping and logistics firms are above the average closure rate too. Effects already being felt in Australia, i.e. miners. Chatting to a friend in Sydney this evening. Lobsters are selling at half price locally. As the export to China market has all but dried up. 

masonic

mystic_trev said:

Dow futures drop more than 300 points, indicating another rough week ahead for Wall Street

https://www.cnbc.com/2020/03/01/awaiting-us-stock-futures-open-at-6-pm-after-wall-streets-worst-week-since-2008.html

Dow Jones Futures Rise In Wild Reversal Even As Covid-19 Cases Rise, U.S. Fears Grow In Coronavirus Stock Market Correction

https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-coronavirus-stock-market-correction-tesla-nvidia-shopify-servicenow/

I think all we can say at this point is volatility has returned to the markets. Nikkei and Hang Seng are both up at the time of writing.

fun4everyone

😷😷😷😷😷😷😷😷😷😷

[Deleted User]

FTSE 100 up over 2pc.

MK62

It would appear the bounce is due to hopes/expectations of market stimulus from central banks - if that doesn't appear, or is inadequate, this bounce might evaporate very quickly.......in the meantime we can but watch and see what happens. 

2010

Dead cat bounce to entice the bottom fishers in.
The trend is down, hold on to your money.

Bravepants

"dead cat bounce

noun

Stock Market

noun: dead cat bounce; plural noun: dead cat bounces

a temporary recovery in share prices after a substantial fall, caused by speculators buying in order to cover their positions."

Surely it's the stimulus brought about by the central banks? Not speculators!