INSUBCONTINENT EXCLUSIVE:
Investors seem to be taking a wait-and-see approach to the markets right now, after a bumpy evening where a presidential tweet and
commitment of economic support seemingly sent traders to smash buy buttons before realizing that there was no new substance behind Monday
night moves.
Economies around the world are in for a rough ride as businesses shut down and social distancing measures take effect to limit
the spread of the novel coronavirus, which is already a global pandemic and an epidemic in the United States
After their worst day of
trading since 1987, stocks rose sharply in overnight trading
The pattern of shares falling sharply, followed by a rebound of sorts, continues, then, as traders continue to look for signals amidst the
global noise; how to value one promise of further government stimulus, for example, against more border shutdowns and bad corporate news is
now daily labor.
All major indices take a hit as COVID-19 pandemic continues
But as stocks opened domestically, they did manage slight
gains, a welcome sight after yesterday sharply negative trading
Here the morning report at the open:
Dow Jones Industrial Average: rose 314.81 to 20,503.33 for a gain of 1.56%
S-P 500: rose 52.91 to
2,439.04 for a gain of 2.22%
Nasdaq Composite: rose 147.45 to 7,052.05+147.45 for a gain of 2.14%
Even cryptocurrencies are seeing a bit of
a comeback, though they, like stocks, remain depressed when compared to recent highs
Bitcoin, the most famous of all cryptos (as the distributed tokens are sometimes called), is off by about half.
The latest economic
Goldman Sachs expects a Q1 contraction of perhaps 5%, a shocking figure
Even more, per reporting, the bank sees it likely that the United States will enter a recession
If you were waiting for the correction, this is it
We have now seen the end of the long-running bull cycle that brought companies like Dropbox and Airbnb and Slack and Zoom from
little-to-nothing to giant-status
A new generation of startups will soon be born that will lead the markets higher in the future
But, given the economic data we&re seeing, not yet.
The TechCrunch crew will keep tracking the public markets so long as they are
More on how select companies performed when the day closes.
As remote work booms, Slack stumbles
