Stock Market Crash 2020

Discussion in 'Current Affairs & Debate' started by OutSynk, Mar 12, 2020.

  1. OutSynk

    OutSynk Banned (by Suomi)

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    DISCUSS.
     
  2. Ag

    Ag User

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    Apparently today was worse a crash on the FTSE than 2008 or 1987. Which makes it worst economic crash in almost all of our lives*

    *except maybe the elderly @lolly who I believe was working the mines in 1929.
     
    Last edited: Mar 12, 2020
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  3. Ag

    Ag User

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    The numbers are just insane. Obviously we've already had a week of it, but £160 billion was wiped off UK stocks today alone.
     
  4. Gangsta Nancy Lam

    Gangsta Nancy Lam mess

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    Can't believe the Tories have caused a global financial crash.
     
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  5. lolly

    lolly Rowena? From Kuwait?

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    I do believe in 1987 I was hiding in the gents' toilets in Littlewoods and peeping through the spy hole.
     
  6. Beverley

    Beverley I Don't Wanna Change A THI-ING

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    i haven't absorbed it at all
     
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  7. Indie

    Indie REMAIN INDOORS

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    Everything these days is exaggerated and stock markets are not immune to this. There are a number of reasons why reactions today arent the same as 50 years ago, or even since 2008.

    Algorithms and machine learning has a big role to play here. Trades are done in instants and one algorithm run by a large stockbroker can fight against another downwards. We've seen stock markets suspended because of that sort of shit.

    And the role of hedge funders, who will actively "bet" against share prices by using derivatives. You can bet a few of those are making a pretty penny.

    Stock markets go up, stock markets go down. Things happen. They'll come back again. They're not actually the reason why any company is going to go bust.

    Makes my job more fun, anyway.
     
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  8. octophone

    octophone Techno Poo

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    It just reinforces how little supposed "wealth" is actually real and how much of it is just perceived value. One change in perception and OOOOOOOOOPPPPPSSSSS!
     
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  9. Penelope

    Penelope DON'T TALK TO ME

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    I mean, the idea that people can't TRAVEL TO AMERICA and that they won't be going shopping at all is a BIT OF A CHANGE IN PERCEPTION AS THINGS GO :D
     
  10. Penelope

    Penelope DON'T TALK TO ME

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    Anyway it's been most fun watching the normally utterly straight-laced FT losing its kittens over this :disco:
     
  11. vespertine

    vespertine A kind of fever chart

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    I've said it before and I'll say it again (unless Coro wipes me out) - stocks are the ONLY THING that people sell when they're on sale, rather than buy.
     
  12. Mats

    Mats User

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    I'm going to be the optimist here and hope that corona brings some much needed societal and economic change in its wake

    gullible, I know, but a boy's gotta dream
     
  13. ameraal

    ameraal i just wanna stay in the moonlight

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    i fear it'll only make us dumber and number.
     
  14. Mats

    Mats User

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    thanks for stabbing the dream balloon!
     
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  15. ameraal

    ameraal i just wanna stay in the moonlight

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    acquaintance living in austria whose work put everyone on leave: "and now they closed the fucking schools. i'd rather get it than spend two weeks at home with my children". they're in their tweens and early teens so i kinda get but still...
     
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  16. Mats

    Mats User

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    us survivors will make a better tomorrow :)
     
  17. octophone

    octophone Techno Poo

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    "Stabbing The Dream Balloon" is a delightful combination of words, well played.
     
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  18. Zu-Klara

    Zu-Klara User

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    :D!
     
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  19. lolly

    lolly Rowena? From Kuwait?

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    Stock market seems to be stabilising
     
  20. octophone

    octophone Techno Poo

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    I guess people can only panic for so long.
     
  21. ameraal

    ameraal i just wanna stay in the moonlight

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    they just injected it with a trillion and a half dollars! it's stabilised but i doubt it will make a big difference in the long run.

    give people paid leave though? we can't afford that!
     
  22. wurst

    wurst User

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    BA and Norwegian Airlines looking very wobbly right now, wouldn’t be surprised to see staff layoffs imminently :(
     
  23. ameraal

    ameraal i just wanna stay in the moonlight

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    all we need is an eyjafjallajökull and a power failure and we're back to prehistoric times.
     
  24. Mats

    Mats User

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    power could be out any moment now... imagine if all three technicians in a control room had to be quarantined :D:zombie:
     
  25. Ag

    Ag User

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    The £ crashed worst today than Brexit day.
     
  26. Lucille

    Lucille Tin Queen

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    I accidentally paid an invoice in Euros twice on Monday. Luckily we actually made money when it was refunded to us today.
     
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  27. Indie

    Indie REMAIN INDOORS

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    And the cost of government borrowing went up a fuckload.

    Both indications that national and international investors have no confidence in Johnson's handling of this.
     
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  28. ameraal

    ameraal i just wanna stay in the moonlight

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    what is everyone doing with their savings?

    i don't think i'll be looking to buy my apartment now (or look for another anytime soon - i'm starting to question living in this city overall) and i've had some cash just sitting in the bank at zero interest rate. i'm bad at capitalism.
     
  29. Mats

    Mats User

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    I was actually going to invest (with Mr M, DOUBLE POWER (bottom)) but now I don't know. but it seems my only shot at a decent pension
     
  30. ameraal

    ameraal i just wanna stay in the moonlight

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    it seems like my only shot at making any money soon short of opening a grocery - the bar is dead, the advertising market (for non-essential stuff) is dead and dancing is dead.
     
  31. COB

    COB Can't go incognito

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    Savings? Hahaha, good one!





    :(
     
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  32. Mats

    Mats User

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    @COB, stop buying all that weebo junk and grind the market instead :disco:
     
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  33. ButterTart

    ButterTart Mod of war

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    One of my friends is a flight attendant with BA - she's not been in the job long so I can well imagine she'll be a casualty of this.
     
  34. octophone

    octophone Techno Poo

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    Exactly. The dollar is shit too and for the same reason. You elect clowns, you get a circus...
     
  35. Sheena

    Sheena MAKE IT QUICK, LUCILLE!

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    The USD almost being the same as the Euro to the £ is absolutely fucking ridiculous.

    We'd JUST managed to get our profit margin sorted at work after two post-Brexit years of HELL (We sell mainly in £ and buy a lot in €/$) and HERE WE FUCKING GO AGAIN.
     
  36. cwej

    cwej User

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    Only the UK could lose record values on their currency during a GLOBAL PANDEMIC. Everyone should be fucking up... but hey guess what, the UK is fucking up even harder guys!
     
  37. Ag

    Ag User

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    They are I think.
     
  38. Ag

    Ag User

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    Anyway interest rates now at 0.1%. A record low.
     
  39. SDF

    SDF The Wait is Over

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    There’s been two rate cuts since I got a letter about remortgaging and yet there doesn’t seem to have had any impact on the rates the banks are offering me :side-eye:
     
  40. ameraal

    ameraal i just wanna stay in the moonlight

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    ikr? to compare, my credit card interest rate is 18.9%.
    i heard they were raising bank taxes here yesterday.

    it just blows my mind how corrupt everything is. a big story in the us today is how a few senators dumped millions worth of stock after a coronavirus briefing at the end of january. some of those are reported downplaying fears over the situation afterwards.
     
    Last edited: Mar 20, 2020

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