Posted by KAQ4468 > 2020-03-09 21:21 | Report Abuse

after that 1000 or 900 ???

Posted by Keyman188 > 2020-03-09 21:22 | Report Abuse

The market has triggered a ‘circuit breaker’ that keeps stocks from falling through the floor. Here’s what you need to know

(Published Mon, Mar 9 20206:19 AM EDTUpdated Moments Ago)

~ With stocks looking set to open sharply lower, investors will be watching for more market circuit breakers that can halt trading.

~ Futures contracts hit “limit down” on Sunday evening after CME-traded stock index futures contracts sank 5%, halting trading below that level and preventing futures from falling any further.

What is ‘limit down’?

According to the New York Stock Exchange, a market trading halt may occur at “three circuit breaker thresholds” on the S&P 500 due to large declines and volatility. The exchange classifies this at three levels based on the preceding session’s close in the S&P 500.

The rules, which apply to regular trading hours only, are as follows:

Level 1: If the S&P 500 drops 7%, trading will pause for 15 minutes. (This would occur today if the S&P falls 208 points).

Level 2: If the S&P 500 declines 13%, trading will again pause for 15 minutes if the drop occurs on or before 3:25 p.m. ET. There will be no halt if the drop happens after that. (This would occur today if the S&P falls 386 points).

Level 3: If the S&P 500 falls 20%, trading would halt for the remainder of the day. (This would occur if the S&P falls 594 points).

These circuit breakers have never been triggered in their current form during regular trading hours. The prior circuit breaker system was revamped after it failed to prevent the May 2010 flash crash. This current set of breakers were put into effect in February 2013.


##https://www.cnbc.com/2020/03/09/sp-500-futures-are-frozen-after-tanking-5percent-heres-what-happens-when-circuit-breakers-kick-in.html

Posted by Keyman188 > 2020-03-09 21:24 | Report Abuse

We all must praying hard...

Hopefully just triggering 1st level circuit breaker then reboun...

If reach 2nd level circuit breaker today...

Tomorrow definitely super duper panic selling for global market....


******Very Very Vulnerable...Very Very Unpredictable...........

Posted by Keyman188 > 2020-03-09 21:29 | Report Abuse

Cramer: Collapse of oil prices and bond yields is worse than ‘the chaos of 2007-2009’

(Published Mon, Mar 9 20207:10 AM EDTUpdated 32 min ago)

~CNBC’s Jim Cramer said early Monday that the collapse in oil prices and bond yields put the stock market in “uncharted waters.”

~“The speed and the thinness. That you could have such a monumental move in six hours is truly astounding,” Cramer tweeted.

~“The collapse in yields and oil is signalling an imminent recession,” he added.

CNBC’s Jim Cramer said early Monday that the collapse in oil prices and bond yields put the stock market in “uncharted waters” as Dow futures were pointing to a 1,300-point nosedive at Wall Street’s open.

As crude futures were plunging Sunday night after OPEC’s production cut deal failed and the 10-year Treasury yield was making shocking new lows in a global flight to the perceived safety of bonds, Cramer tweeted that these moves are “signalling an imminent recession.”

The 10-year Treasury yield, which moves inversely to price, dropped to a new record low of 0.318% early Monday before recovering some of those losses. Oil prices were off about 20%, though they had been 30% lower overnight.

At 4:15 a.m. ET, Cramer went a step further, tweeting that the moves in oil and yields, on top of the already widespread market concerns about the spread of the coronavirus, “are both unprecedented and exceed the chaos of 2007-2009 today.”

##https://www.cnbc.com/2020/03/09/cramer-collapse-of-oil-and-bond-yields-worse-than-chaos-of-2007-2009.html

Posted by ahbah > 2020-03-09 21:33 | Report Abuse

The oil crash n coronavirus exceed the chaos of 2007-2009, will the current mkt exceed the mkt chaos then ?

Posted by Keyman188 > 2020-03-09 21:34 | Report Abuse

DOW DROPS 1,700 POINTS AMID OIL SHOCK

(Published Sun, Mar 8 20206:01 PM EDTUpdated Moments Ago)

Stocks tumbled on Monday as investors braced for the economic fallout from the spreading coronavirus, while a shocking all-out oil price war added to the anxiety.

Futures on the Dow Jones Industrial Average indicated an opening drop of 1,300 points. The S&P 500 futures indicated a 5% drop at Monday’s open, hitting their limit down levels. The sharp declines followed a roller-coaster week that saw the S&P 500 swing up or down more than 2.5% for four days straight.

The massive sell-off could trigger key market circuit breakers during regular trading hours. If the S&P 500 drops 7%, trading will pause for 15 minutes.

While Monday’s drop is poised to be significant, it still wouldn’t crack the 20 worst days in the S&P 500.

Investors continued to seek safer assets amid additional fears that the coronavirus will disrupt global supply chains and tip the economy into a recession. The yield on the benchmark 10-year Treasury note dropped below 0.5% for the first time ever, while the 30-year rate breached 1%.

Saudi Arabia on Saturday slashed official crude selling prices for April, in a sudden U-turn from previous attempts to support the oil market as the coronavirus hammers global demand. The move came after OPEC talks collapsed Friday, prompting some strategists to see oil prices crater to $20 this year.

“Crude has become a bigger problem for markets than the coronavirus,” Adam Crisafulli, founder of Vital Knowledge, said Sunday. “It will be virtually impossible for the [S&P 500] to sustainably bounce if Brent continues to crater,” he added.

International benchmark Brent crude futures plummeted 29.07% to $32.11 per barrel after dropping 30% earlier. U.S. West Texas Intermediate crude futures dropped 30.98% to $28.49 per barrel, on track for its worst day since 1991. The Energy Select Sector SPDR Fund (XLE), which tracks the energy sector, tumbled 15% in Monday’s premarket trading.

Bank stocks are getting smashed as lower yields put pressure on their margins, while an oil crash could cause energy companies to default on their obligations. JPMorgan plunged 9.3% in premarket trading.

Investors have already been on edge about the coronavirus outbreak that caused major stock averages to tumble into correction territory. As of Sunday, global cases of the infection have climbed to more than 109,000 with at least 3,801 deaths around the world. The situation is also worsening in the U.S. with New York, California and Oregon all declaring a state of emergency.

“The idea that lower gasoline prices is going to put more cash in workers’ pockets and give consumer spending and the economy a boost doesn’t seem to cushion the blow for stock market investors,” Chris Rupkey, MUFG Union Bank’s chief financial economist, said in a note Sunday. “They want out. Big time. The sky is falling. Get out, get out while you can. Wall Street’s woes have to eventually hit Main Street’s economy hard.”

Gold, another safe-haven asset, crossed $1,700 an ounce, hitting its highest level since Dec. 2012. Meanwhile, copper prices hit a more than three-year low of $2.46. Copper is seen as a barometer of broad economic demand given its applications in electrical equipment and manufacturing.

The Federal Reserve announced an emergency rate cut last week to combat the economic impact from the virus, its first such move since the financial crisis. President Donald Trump on Friday signed a sweeping spending bill of an $8.3 billion package to aid medical research.

The New York Fed said Monday it will increase the amount of money it is offering to banks for their short-term funding needs. To make sure the funding, or repo, markets are working properly, the central bank said it will up the amount it offers in overnight operations from $100 billion to $150 billion through Thursday.

Traders expect the central bank to slash rates by three-quarters of a percentage point at its upcoming March meeting. Chances for a full percentage point cut this month were at 29.2%, according to the CME FedWatch tracker.

The S&P 500 has fallen 8% this year after suffering its worst week since the financial crisis at the end of February. The benchmark is down more than 12% from its recent peak.

The iShares High Yield Corporate Bond ETF (HYG) fell 4.5% in premarket, on concerns that a oil price crash will cause many small energy companies to default, hitting the high yield credit market that they’ve become so a large part of.


##https://www.cnbc.com/2020/03/08/dow-futures-drop-700-points-as-all-out-oil-price-war-adds-to-coronavirus-stress.html

Posted by KAQ4468 > 2020-03-09 21:41 | Report Abuse

Dow Jones Industrial Average

INDEXDJX: .DJI
23,979.90 −1,884.88 (7.29%)







Hooorreeeyyyyyyyyyyyyyyyyyyyyyyy


Tomorrow Bursa kaw kaw punya

Posted by ahbah > 2020-03-09 22:03 | Report Abuse

Coming soon.

Posted by Keyman188 > 2020-03-09 23:30 | Report Abuse

Very very vulnerable level...

If break this level...

Bleeding until 1220 level soon...

Posted by Keyman188 > 2020-03-10 07:15 | Report Abuse

Dow sinks 2,000 points in worst day since 2008, S&P 500 drops more than 7%

(Published Sun, Mar 8 20206:01 PM EDTUpdated 2 hours ago)

The Dow Jones Industrial Average sank more than 2,000 points on Monday, its worst day since 2008, as fears about the spread of the new coronavirus and an oil price war sent investors scrambling out of stocks.

The Dow dropped 2,013.7 points — 7.79% — as Boeing, Apple, Goldman Sachs and Caterpillar cut the index by at least 100 points each. The Dow ended the day at 23,851.02 and represented its single-worst day since Oct. 15, 2008, when it fell 7.87%.

The S&P 500 plunged 7.6% to 2,746.56 as investors punished financials and energy stocks. Energy names in the S&P 500, including Exxon Mobil, Hess and Marathon Oil, finished the day down more than 20%. Financial stocks ended down more than 10%. The equity benchmark suffered its worst day since Dec. 1 2008.

The Nasdaq Composite fell 7.29% to end the day at 7,950.68.

The massive sell-off triggered a key market circuit breaker minutes after the opening bell. Trading was halted for 15 minutes until reopening at 9:49 a.m. ET. The sharp declines on Monday followed a roller-coaster week that saw the S&P 500 swing up or down more than 2.5% for four days straight.


##https://www.cnbc.com/2020/03/08/dow-futures-drop-700-points-as-all-out-oil-price-war-adds-to-coronavirus-stress.html

Posted by Keyman188 > 2020-03-10 07:17 | Report Abuse

DJIA & S&P500 already very very close to bear market territory level (20% off from high)

The global market really tragedy

Posted by Keyman188 > 2020-03-10 07:22 | Report Abuse

Oil plunges 24% for worst day since 1991, hits multi-year low after OPEC deal failure sparks price war

(Published Sun, Mar 8 20206:03 PM EDTUpdated 3 hours ago)

Oil prices plunged to multi-year lows on Monday as tensions between Russia and Saudi Arabia escalate, sparking fears on the Street that an all-out price war is imminent.

The sell-off in crude began last week when OPEC failed to strike a deal with its allies, led by Russia, about oil production cuts. That, in turn, caused Saudi Arabia to slash its oil prices as it reportedly looks to ramp up production

U.S. West Texas Intermediate crude and international benchmark Brent crude on Monday posted their worst day since 1991.

WTI plunged 24.59%, or $10.15, to settle at $31.13 per barrel. It was WTI’s second worst day on record. International benchmark Brent crude slid $10.91, or 24.1%, to settle at $34.36 per barrel.

Earlier in the session each contract fell more than 30%. WTI dropped to $30 while Brent traded as low as $31.02, both of which were the lowest levels since Feb. 2016.

“This has turned into a scorched Earth approach by Saudi Arabia, in particular, to deal with the problem of chronic overproduction,” Again Capital’s John Kilduff said. “The Saudis are the lowest cost producer by far. There is a reckoning ahead for all other producers, especially those companies operating in the U.S shale patch.”

On Saturday, Saudi Arabia announced massive discounts to its official selling prices for April, and the nation is reportedly preparing to increase its production above the 10 million barrel per day mark, according to a Reuters report. The kingdom currently pumps 9.7 million barrels per day, but has the capacity to ramp up to 12.5 million barrels per day.

“We believe the OPEC and Russia oil price war unequivocally started this weekend when Saudi Arabia aggressively cut the relative price at which it sells its crude by the most in at least 20 years,” Goldman Sachs analyst Damien Courvalin said in a note to clients Sunday. “The prognosis for the oil market is even more dire than in November 2014, when such a price war last started, as it comes to a head with the significant collapse in oil demand due to the coronavirus,” the firm added.

Goldman cut its second and third quarter Brent forecast to $30 per barrel, and said that prices could dip into the $20s.

Saudi Arabia’s price cut followed a breakdown of talks in Vienna last week. On Thursday, OPEC recommended additional production cuts of 1.5 million barrels per day starting in April and extending until the end of the year. But OPEC ally Russia rejected the additional cuts when the 14-member cartel and its allies, known as OPEC+, met on Friday.

The meeting also concluded with no directive about the production cuts that are currently in place but set to expire at the end of the month. This effectively means that nations will soon have free rein over how much they pump.

“As from 1 April we are starting to work without minding the quotas or reductions which were in place earlier,” Russian Energy Minister Alexander Novak told reporters Friday at the OPEC+ meeting in Vienna, adding, “but this does not mean that each country would not monitor and analyze market developments.”

Oil prices have already moved sharply lower this year as the coronavirus outbreak has led to softer demand for crude. A potential supply glut could pressure prices further.


##https://www.cnbc.com/2020/03/08/oil-plummets-30percent-as-opec-deal-failure-sparks-price-war-fears.html

Posted by Keyman188 > 2020-03-10 07:27 | Report Abuse

Hopefully & praying harder & harder...

Hopefully brent oil wouldn't reach at $20...

If not all multiple & domino effect will be emerged on the table...

1) Unprecedented virus outbreak

2) Oil price tumble - Gulf War

3) Currency crash - oil exporter countries huge impact (like Malaysia)

4) Banking lending policy tightening

5) Property market crash...

6) Consumption power become weaker & weaker due to household debt anytime burst (currently about 87%)

7) Finally economic RECESSION


No play play....current situation Fast & Furious impact all sector....

Posted by Keyman188 > 2020-03-10 07:59 | Report Abuse

end of 2019 (31/12/19) : KLCI = 1588.76

As per today : KLCI = 1424.16

YTD : -10.36%

Posted by Keyman188 > 2020-03-10 08:01 | Report Abuse

From 1896.03 (20/04/18)...

Until....

As per today 1424.16 (09/03/20)...

Bear marker level : -24.89%


Really tragedy Bursa Malaysia....

Posted by Keyman188 > 2020-03-12 07:35 | Report Abuse

Dow drops 1,400 points and tumbles into a bear market, down 20% from last month’s record close

(Published Tue, Mar 10 20207:37 PM EDTUpdated 3 hours ago)

The coronavirus-induced sell-off reached a new low on Wednesday as Wall Street grappled with the rapid spread of the virus as well as uncertainty around a fiscal response to curb slower economic growth resulting from the outbreak.

The Dow Jones Industrial Average tumbled 1,464.94 points, or 5.9%, to close at 23,553.22. The 30-stock average closed in a bear market, down more than 20% below the record close set only last month and putting to end an expansion that started in 2009 amid the financial crisis.

The S&P 500 ended the day 4.9% lower at 2,741.38 and just short of a bear market. The Nasdaq Composite fell 4.7% to 7,952.05 and was also about 19% below its all-time high. A 20% decline is considered a bear market on Wall Street. However, most investors don’t recognize it officially until an index does it on a closing basis.

“We can see the panic in the equity market,” said Jerry Braakman, chief investment officer of First American Trust. “The big question for most people is, are we at the bottom yet? I think we’re only about halfway there.”

Losses intensified on Wednesday after the World Health Organization declared the outbreak an official global pandemic. The number of coronavirus cases around the world totaled more than 100,000, according to data from Johns Hopkins University. In the U.S. alone, more than 1,000 cases have been confirmed. This increase in cases added to fears of a global economic slowdown and have increased calls for government intervention.

President Donald Trump suggested Tuesday a 0% payroll tax rate that could last until the end of the year. However, the timing of such policies being implemented remains uncertain. Sen. Chuck Grassley, who heads the Senate Finance Committee, said such a tax cut needed to be examined.

“Markets seem disappointed that the White House did not release details of its fiscal response to the coronavirus,” said Brian Gardner, a Washington policy analyst at KBW. “We are still in early days and policymakers are continuing to grapple with different options and negotiate between the two parties and between Congress and the administration.”

Central banks have also acted to curb slower economic growth. The Bank of England on Wednesday cut its benchmark rate by 50 basis points to 0.25%. The Federal Reserve also increased the amount of money it is providing to banks through overnight repo lending to $175 billion. This follows the Fed’s emergency half point rate cut last week.

The uncertainty around fiscal stimulus, coupled with a reduction in travel demand and rising coronavirus cases, pressured airline and cruise line stocks. American, Delta, United and JetBlue all fell at least 4.3%. Norwegian Cruise Line and Carnival fell 26.7% and 9.5%, respectively.

“We need to see meaningful support for economic activity and credit backstops especially for small businesses, not a targeted approach executed only by the executive branch,” Joe Kalish, chief global macro strategist at Ned Davis Research, said in a note. “We will likely need congressional involvement. This is a potential solvency problem.”

Bank shares also fell broadly. Bank of America and JPMorgan Chase fell 4% and 4.7%, respectively. Citigroup lost 8.6% while Morgan Stanley and Goldman Sachs both dropped more than 6.5%.

Wednesday’s moves came after the major averages posted sharp gains in the previous session. The Dow rallied more than 1,100 points while the S&P 500 had its best one-day performance since Dec. 26, 2018.

“Stocks posted impressive headline gains, but more strength needs to be seen beneath the surface to have confidence that the downside momentum in stocks has been broken,” Willie Delwiche, investment strategist at Baird, said in a note. “The weight of the evidence continues to argue for caution in the near term and we recommend that investors remain patient in the face of ongoing market volatility.”

##https://www.cnbc.com/2020/03/10/dow-futures-point-to-a-loss-of-more-than-400-points-after-tuesdays-surge.html

Posted by Keyman188 > 2020-03-12 07:59 | Report Abuse

Bull Market Ends Like It Began: In Chaos, Without Any Warning

(March 12, 2020, 4:34 AM GMT+8 Updated on March 12, 2020, 4:49 AM GMT+8)

Eleven years ago, with the global economy reeling from the ravages of the financial crisis, stocks strung together a little run that lifted the Dow Jones Industrial Average about 10% in four days.

Nobody knew then, but it was the start of a rally that would ultimately add $20 trillion to equities and become the most enduring in history.

Now, a bull market that nobody saw coming has ended the same way it began -- amid panic, and with little warning. Based on when it last hit a record, the Dow plunged 20% from Feb. 12, and investors who had only just begun to wade back in are getting crushed by a global health scare that has, thus far, resisted every effort to halt. (Inconveniently for market statisticians, the bear market arrived first in the Dow and not their preferred gauge, the S&P 500.)

In the end, it was one more crisis than could be contained by the market’s guardians. What set apart this bull market was, of course, the Federal Reserve. In modern history, no rally has been more closely associated with the central bank -- and its unprecedented experiments in monetary policy -- than this one. But policy makers who had so successfully shielded investors from credit crises, subpar economic growth and all manner of market turmoil, had no answer for a virus threatening to cause a global recession.

“What changed during this bull market is we assumed the Fed could solve everything. If this becomes a global demand problem, the Fed won’t be as able to help –- not with conventional policy,” said Peter Tchir, head of macro strategy at Academy Securities LLC.

It’s testament to the power of the advance that a plunge as violent as this one has lowered the annualized bull market return by less than 2 percentage points. If by a miracle you bought at the bottom, you’re still sitting on handsome gains -- about 15% a year. Someone who waited 12 months before jumping in is doing fine, too.

“The bull market became an old friend and maybe we took its ability to fly for granted a bit too much, its ability to continue to power on,” said Marvin Loh, senior global macro strategist for State Street. “It was unique, it was euphoric. It made a lot of people feel great. But a lot of people didn’t participate as much as they could have, also.”

Not everyone will mourn an era whose early stages were fueled by Ben Bernanke’s controversial approach to stimulus, experiments with names like Quantitative Easing and Operation Twist designed to spur investment by pushing banks and individuals out of the fixed-income havens to which they flocked during the crisis. Every time the rally threatened to collapse -- and shares twice before came within points of losing 20% -- central bank pronouncements breathed new life.

“Looking back on this bull market, financial textbooks will be re-written to start with central bank policy,” said Matt Miskin, co-chief investment strategist at John Hancock Investment Management. “And that section could equate to nearly half the content.”

The rally was a monster by many measures. At its peak on Feb. 19, the S&P 500 needed to climb about 3% more to eclipse the return of the mother of all bull markets, the dot-com frenzy that lifted it 545%. At the same time, its slow-and-steady nature kept it out of the ranks of the fastest. Going by the S&P 500 -- which isn’t in a bear market, technically -- the 18.3% annualized gain at the top is actually smaller than all but one of 12 previous bull markets.

Its biggest claim to history is its length. While a robust debate exists among wonks over how to date bull markets, most statisticians consider this to be the most durable on record. It lasted 11 years and two days and featured two calendar years in which the total return exceeded 30%.

The unrelenting climb has made U.S. stocks the envy of the world for a decade. In the past 10 years, the S&P 500’s gained more than 135%, compared with an advance of about 60% in the MSCI All-Country World Index. Emerging market stocks fell around 2% over that period.

“It was an all-American bull market. It paid to be provincial,” said Doug Ramsey, chief investment officer at Leuthold Group. “Toward the end, consumer discretionary did exceptionally well, especially considering we came out of a massive consumer recession. That’s an all-American thing: consumption.”

## https://www.bloomberg.com/news/articles/2020-03-11/bull-market-ends-like-it-began-in-chaos-without-any-warning?srnd=premium-asia

Posted by Keyman188 > 2020-03-12 08:52 | Report Abuse

Very excited trading day today...

Bear market territories...........

Tragedy market...turbulence market....

Posted by Keyman188 > 2020-03-13 07:01 | Report Abuse

Dow plunges 10% amid coronavirus fears for its worst day since the 1987 market crash
(Published Wed, Mar 11 20206:06 PM EDTUpdated 3 hours ago)

Stocks plummeted once again on Thursday after President Donald Trump and the Federal Reserve both failed to quell concerns over the economic slowdown stemming from the coronavirus, leading to a historic drop for the U.S. markets.

The Dow Jones Industrial Average closed 2,352.60 points lower, or 9.99%, at 21,200.62. The index had its worst drop since the 1987 “Black Monday” market crash, when it collapsed by more than 22%.The S&P 500 plummeted 9.5% to 2,480.64, joining the Dow in a bear market. The S&P 500 also had its worst day since 1987. The Nasdaq Composite closed 9.4% lower at 7,201.80.

“The coronavirus is scary and people don’t know what to expect,” said Kathy Entwistle, senior vice president of wealth management at UBS. “It’s like the tsunami is coming. We know it’s going to hit any day and nobody knows what the outcome is going to be.”

The major averages got a brief respite during the trading day after the Fed announced it will ramp up its overnight funding operations to more than $500 billion on Thursday. It will then offer more repo operations totaling $1 trillion on Friday. The Fed also expanded the types of securities it would purchase with reserves.

However, stocks quickly traded back towards their session lows as investors awaited more aggressive measures to support the economy and target the virus outbreak directly.

“These changes are being made to address highly unusual disruptions in Treasury financing markets associated with the coronavirus outbreak,” said the statement from the New York Federal Reserve, which conducts these operations on behalf of the Fed.

Trading was halted at one point

Thursday’s sell-off got so bad, that trading was halted briefly after the open for 15 minutes as markets hit the mandated “circuit-breaker” threshold used by U.S. exchanges. Despite the halt, the Dow went on to notch its fifth-worst decline in its history, according to FactSet. Even the worst one-day drop of 2008 financial crisis did not reach this magnitude.

Not much was immune to the financial market plunge. Small-cap benchmark the Russell 2000 index cratered by 11%. Gold fell. Oil plunged. Credit market spreads widened significantly. Even U.S. Treasurys, a reliable safe haven earlier in the sell-off, ended Thursday lower.

“We are going into a global recession,” said Mohamed El-Erian, chief economic adviser at Allianz, on CNBC’s “Squawk Box.” “After what’s been happening the last few days, we are going to see a spread of economic sudden stops.”

“The trouble with economic sudden stops is it’s not easy to restart an economy,” El-Erian said. He believes the selling won’t stop until the bear market hits down 30%.

In his address, Trump announced travel from Europe will be suspended for 30 days as part of the government’s response to the coronavirus outbreak. Trump also said the administration would provide financial relief for workers who are ill, caring for others due to the virus or are quarantined.

These moves were not enough for investors, however, who were looking for a more targeted fiscal response to address the issue slower economic growth stemming from the coronavirus.

“President Trump in an extraordinary Oval Office address didn’t offer up major new ideas on stimulus and only said he’d propose a vague payroll tax holiday to Congress without strongly standing up for any firm size/magnitude,” wrote Ernie Tedeschi, policy economist for Evercore ISI, in a note. “This effectively kicks the issue to Congress.”

Cruise line shares dropped sharply. Royal Caribbean closed 31.8% lower while Carnival and Norwegian Cruise Line slid 15% and 20.7%, respectively. Airline shares such as United, Delta and American all fell more than 21%.

## https://www.cnbc.com/2020/03/11/futures-are-steady-wednesday-night-after-dow-closes-in-bear-market-traders-await-trump.html

Posted by Keyman188 > 2020-03-13 08:27 | Report Abuse

Oil drops as much as 8%, on pace for worst week in more than a decade
(Published Thu, Mar 12 202010:25 AM EDTUpdated 6 hours ago)

Oil prices dropped as much as 8% on Thursday as crude continues to take a hit on both the supply and demand side. U.S. West Texas Intermediate crude is now down more than 25% this week, putting it on track for its worst week since December 2008, and its third largest weekly decline on record.

On Thursday WTI fell $1.48, or 4.49%, to settle at $31.50 per barrel. Earlier in the session it traded as low as $30.02. International benchmark Brent crude fell $2.51, or 7%, to trade at $33.31 per barrel.

The coronavirus outbreak has led to softer demand for crude as people cut back on travel, among other things. On Wednesday, President Donald Trump imposed a 30-day ban on foreigners arriving from most of Europe, a move likely to reduce demand further.

“Our initial assessment of the impact of cancelling transatlantic flights between the US and Europe is a direct loss of about 600,000 barrels per day per month in jet fuel demand,” Rystad Energy’s head of oil markets Bjoernar Tonhaugen said.

Since the beginning of the year, WTI has lost half of its value, as the coronavirus outbreak escalated into a global pandemic.

OPEC deal unwinds

As prices fell, OPEC met in Vienna last week where Wall Street largely expected an announcement of additional production cuts in an effort to prop up prices.

The 14-member cartel proposed an additional cut of 1.5 million barrels per day, but ally Russia rejected the proposal.

OPEC then decided that the production cuts currently in place, but that expire at the end of the month, would not be extended. This means that starting April 1, nations can pump as much as they want. WTI dropped 10% on Friday after the meeting ended with no agreement.

Following Russia’s rejection of the proposal, OPEC de facto leader Saudi Arabia retaliated by slashing its official oil prices while announcing plans to ramp up production.

As tensions between the two powerhouse producers escalated, WTI and Brent each plummeted 24% on Monday, posting their worst day in nearly three decades while sending prices to a more than four-year low.

Then on Wednesday, Saudi Aramco said that it received a directive to increase its production capacity from 12 million barrels per day to a record 13 million barrels per day.

Earlier in the week there had been reports that talks between OPEC and its allies might continue, but Reuters reported on Thursday, citing sources, that the OPEC+ technical meeting scheduled for March 18 was unlikely to go ahead.


##https://www.cnbc.com/2020/03/12/oil-drops-as-much-as-8percent-on-pace-for-worst-week-in-more-than-a-decade.html

Posted by Keyman188 > 2020-03-13 08:46 | Report Abuse

Today KLCI very high possibility drop to between 1380 ~ 1390 range

Posted by Keyman188 > 2020-03-14 15:42 | Report Abuse

Unexpected KLCI reached until 1320....

Posted by Trouble Huat > 2020-03-14 15:46 | Report Abuse

there should be possible rebound before another new low. as the bear market just started

Posted by ahbah > 2020-03-14 15:51 | Report Abuse

Interestingly, from peak to trough, the FBM KLCI had dropped 79% during the 97/98 Asian Financial Crisis (AFC), 45% during the 08/09 Global Financial Crisis, but between April 2018 and now, the benchmark index has dropped by only 25%.

Does this indicate that there’s more downside to come?

What should investors do?

Posted by bnmacai > 2020-03-14 16:43 | Report Abuse

i'm bullish on MY market. Don't takut lah. Best time for you to make money. Rock bottom already

Posted by bnmacai > 2020-03-14 16:43 | Report Abuse

end of this year index will be at 1700

Posted by Junichiro > 2020-03-16 09:17 | Report Abuse

https://invst.ly/q4jxv