Dow Plunges As Trump Speaks, Closes 3000 Pts Down

Investor’s Business Daily reports:

Stocks crashed at the open to trigger a circuit breaker, halting trade for 15 minutes, following the Fed’s emergency rate cut over the weekend. The central bank slashed rates to essentially zero and announced a $700 billion quantitative easing program.

But instead of spurring stock purchases, the Dow Jones index plunged more than 2,700 points before moving off its lows. It’s now 29% below its February high. The Nasdaq and S&P 500 are 27% off their highs.

Among the Dow stocks, Boeing was the biggest loser, down 19%. It’s now trading at its lowest point since 2016 and is more than 60% off its 52-week high.

The Dow Jones Industrial Average

President Obama:
Jan. 20, 2009: 7949
Jan. 20, 2017: 19,827
(149% increase)

Donald Trump:
Jan. 20, 2017: 19,827
Feb. 12, 2020: 29,551
Mar. 16, 2020: 20,186

The Dow has dropped more than 9,000 points in the past month.

— Keith Boykin (@keithboykin) March 16, 2020

Dow Jones percentage drop of 12.9% 2nd worst in history, surpassing the Wall Street Crash of 1929.

— Doge (@IntelDoge) March 16, 2020