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Coronavirus spreading fear plummets stock market The old saw used be that "when the U.S. sneezes, the rest of the world catches a cold". Now, a more apropos adage for market bears may be that "when an outbreak of Coronavirus grinds the world's second-largest economy a halt, the rest of the world catches a recession". Wuhan Coronavirus has spread from China the world, the more serious countries including Japan, Singapore, South Korea, Hong Kong now Italy, Egypt, .... It effects traveling industry and hotel reservation being cancelled. Masks and gloves shortages. Cities and towns lockdown for quarantine. Streets are empty. Food prices raised. Wuhan mayor said there were estimated 5 million people escaped out from Wuhan city before Xi announced to lockdown Wuhan on January 23rd. Those 5 million Chinese either went to other cities in China, or go abroad to many countries, Japan, S. Korea, Hong Kong, Singapore, USA, Italy. Many countries weren't aware of the Coronavirus spreading and let those people into their countries. There is a 80 y/o S. Korean woman went to church to worship their god and spread out virus to more than 153 persons in church. Yesterday, Feb 24th, Dow Jones plummeted 1,031.61 points and today, Tuesday, Dow Jones slides another 879.44 points. Dow Jones has consecutively down for the past 4 trading days. Blood stream on the Wall Street. I have sold most of my stocks and became a CASH account. I won't be margin called. I have discipline to sell my stocks when the indexes were all-time high. The U.S. Secretary of State, Mike Pompeo, Proud Antagonist of the U.S. Press, Calls Out China For Stifling Media Coverage of Coronavirus. President Trump went to India to sign trade deal with India. India has 2nd largest population in the world, their labor are low and good in computer knowledge. So, China could be step down from 2nd-largest economy country in the foreseeable future. "Sea of Red" the three indexes went sharply down. Dow Jones, Nasdaq and S&P charts.    Honesty is the best policy. |
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Indeed, recession fears resurfaced on Wall Street last week, even as equity markets stood not far from all-time highs amid volatile trade that whipsawed mostly on jitters that supply chains and economies could suffer from the spread of infectious illness that originated in Wuhan, China, known as COVID-19. The coronavirus spread definitely injects an element of uncertainty into markets for the near term and for the longer term as well. The probabilities of a recession have increased and it is reflected in the action in long-bonds like the 10-year Treasury note and the 30 year Treasury bond, which plunged Friday to its lowest rate on records. Investors will flee to the presumed safety of U.S. government bonds, diving yields lower, with the hope of avoiding losses that can derail riskier assets in a selloff. Honesty is the best policy.
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Dow Jones was at all-time high of 29,568.57 points on Feb 12th, and nose dived to 24,681.01 points on Feb 28th. Lost 4,887.56 points or 16.53% in just 11 trading days. Nasdaq (high-tech ) was at all-time high of 9,838.37 points on Feb 19th, and plunged to 8,26416 points on Feb 28th. Down 1,574.21 points or 16% in just 7 trading days. S&P 500 was at all-time high of 3,393.52 points on Feb 19th, and plummeted to 2,855.84 points on Feb 28th. Plunged 537.68 points or 15.844% in 7 trading days. I have sold more than 2/3 of my Amazon holdings on Feb 11th and got lot of profits back. So, I nibbled a little shares of Amazon. If Amazon continued to go down next week, I still have money reserved to buy more. I always have discipline to sell and buy stocks. I bought some Microsoft, Walt Disney, Cisco and Taiwan semi-conductor. Honesty is the best policy.
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Dow Jones down 123.77 points again on Feb 26th. It is all China's coronavirus fault. Honesty is the best policy.
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Xi dreamed he will be the "ruler of the world". It is a pipe dream. Xi talked about "one belt one road" 一帶一路 [the Silk Road Economic Belt and the 21st-century Maritime Silk Road is a development strategy proposed by the Chinese government which focuses on connectivity and cooperation between Eurasian countries, primarily the People's Republic of China (PRC), the land-based Silk Road Economic Belt (SREB ) and the ocean-going Maritime Silk Road (MSR).] Now, the Coronavirus brought down China, also brought down Xi's ambition. When China's Cultural Revolution for a decade that brought down their economy to recession. During that time, the world still stayed in prosperous level. China had to catch up with rest of world, so they build and built to bring up their GDP growth rate by "cheap labor" for the largest population people. However, they didn't change from communist dictatorship to Democracy. CCP controls its people and brainwashed them. Chinese people became "silent lambs" in order to be survived. What a pity!!! Coronavirus is a pandemic disease. In 20/03, China had SARS that spread in Asia mainly, but this time Coronavirus is even worse that spread to USA, Europe, Mid-East and Africa. Chinese people have bad habits, i.e. spit on ground, blow nose on street, pee and poo on streets. I have posted a blog with pictures that a Chinese woman poo poo in San Gabriel public street in front of a Mexican house. Yesterday, I went to my Chase Bank local branch, an employee told me one Chinese urinated on bank carpet. Such a shameful bad habit. (Chase Bank has rest room for public) Honesty is the best policy.
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I go to the saloon to have my hair dyed every 4 weeks. Those Chinese hair workers said they think CCP did a good job for China. Their live have been improved so much from Cultural Revolution. They said their government (CCP) lead their country to be the world 2nd-largest country. They are proud of China and CCP. Those deplorable Chinese have been brainwashed by CCP. They said they don't believe those videos showed Chinese people died on Coronavius and believed in CCP official death toll numbers. Those Chinese hair worker have been in USA for ten, twenty or thirty years, but they still have parents or siblings in China. They are afraid if they said something inappropriate to CCP, their relatives will be in jail or k*lled. Those hairstylists are uneducated and been brainwashed. They don't know what is right, what is wrong. They believe their government brought China to a prosperous country. They live in USA but still afraid of CCP's spy to report them. I am thinking to change saloon to the Hong Kong immigrant saloon. Hong Kong people have much better knowledge about what is right and what is wrong. Honesty is the best policy.
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CCP should apologize to their Chinese people and the whole world for spreading Coronavirus. This virus has caused fear. Many governments don't know should lockdown or not. This virus spread caused its and the whole world health and economy crisis. Honesty is the best policy.
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The pandemic disease has spread to the world. Nobody knows the actual death toll in China, they covered-up the truth, said they don't have enough test agents to identify Coronavirus or normal Pneumonia. There is no medicine that can cure the Coronavirus except Gilead Biotech company's Remesivir has some treatment. The big problem is this virus has spread to other countries, i.e. Japan, Singapore, South Korea, USA, Italy, Egypt and Iran. It spreads very fast and difficult to treat. Stock investors fear about the virus spreading and sold their stock holdings. It became "panic selling". It started from transportation, airline companies, Boeing, hotels, travel agencies, to semi-conductors that supply for iPhone and other brand of smartphones. Apple Inc. CEO Tim Cook has warned that its revenue could be short from analysts estimate due to "supply chain" shortage. Even for those companies don't do businesses in China got sold, i.e. Go*gle, Facebook, Twitter, Amazon, .... The "Bear" controls the stock market. Honesty is the best policy.
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