Stock Market Crash 2020

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

  1. OutSynk

    OutSynk My name is Matilda.

    Joined:
    Aug 16, 2010
    Messages:
    9,373
    Location:
    Oreo Chromatica
    DISCUSS.
     
  2. Ag

    Ag BRING BACK TAGS

    Joined:
    Aug 3, 2009
    Messages:
    188,477
    Location:
    BRING BACK TAGS
    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
    Pipo, vespertine, Star and 3 others like this.
  3. Ag

    Ag BRING BACK TAGS

    Joined:
    Aug 3, 2009
    Messages:
    188,477
    Location:
    BRING BACK TAGS
    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

    Joined:
    Jun 6, 2012
    Messages:
    9,224
    Location:
    The streets
    Can't believe the Tories have caused a global financial crash.
     
    SDF likes this.
  5. lolly

    lolly Rowena? From Kuwait?

    Joined:
    Feb 3, 2004
    Messages:
    154,531
    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

    Joined:
    Mar 31, 2005
    Messages:
    24,052
    Location:
    Regína's GUMS.
    i haven't absorbed it at all
     
    ameraal likes this.
  7. Indie

    Indie Great Tits

    Joined:
    Feb 3, 2004
    Messages:
    54,922
    Location:
    :noitacoL
    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.
     
    ameraal and Suomi like this.
  8. octophone

    octophone O = 0

    Joined:
    Feb 3, 2004
    Messages:
    46,023
    Location:
    Sudden Roundabout
    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!
     
    HeLikedTurner, Suedey, COB and 3 others like this.
  9. Penelope

    Penelope Look right for CALMING INFLUENCE

    Joined:
    Jul 21, 2009
    Messages:
    29,428
    Location:
    BRING BACK TAGS
    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 Look right for CALMING INFLUENCE

    Joined:
    Jul 21, 2009
    Messages:
    29,428
    Location:
    BRING BACK TAGS
    Anyway it's been most fun watching the normally utterly straight-laced FT losing its kittens over this :disco:
     
  11. vespertine

    vespertine God damn it Claude

    Joined:
    Dec 31, 2007
    Messages:
    884
    Location:
    Drowned World
    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

    Joined:
    Dec 31, 2007
    Messages:
    25,025
    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 la loi de murphy

    Joined:
    Jun 24, 2004
    Messages:
    45,061
    i fear it'll only make us dumber and number.
     
  14. Mats

    Mats User

    Joined:
    Dec 31, 2007
    Messages:
    25,025
    thanks for stabbing the dream balloon!
     
    Lucille, Zu-Klara, octophone and 2 others like this.
  15. ameraal

    ameraal la loi de murphy

    Joined:
    Jun 24, 2004
    Messages:
    45,061
    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...
     
    OutSynk, Lucille and Zu-Klara like this.
  16. Mats

    Mats User

    Joined:
    Dec 31, 2007
    Messages:
    25,025
    us survivors will make a better tomorrow :)
     
  17. octophone

    octophone O = 0

    Joined:
    Feb 3, 2004
    Messages:
    46,023
    Location:
    Sudden Roundabout
    "Stabbing The Dream Balloon" is a delightful combination of words, well played.
     
    ButterTart likes this.
  18. Zu-Klara

    Zu-Klara ALLES QUATSCH!

    Joined:
    Jun 15, 2009
    Messages:
    27,027
    :D!
     
    Penelope likes this.
  19. lolly

    lolly Rowena? From Kuwait?

    Joined:
    Feb 3, 2004
    Messages:
    154,531
    Stock market seems to be stabilising
     
  20. octophone

    octophone O = 0

    Joined:
    Feb 3, 2004
    Messages:
    46,023
    Location:
    Sudden Roundabout
    I guess people can only panic for so long.
     
  21. ameraal

    ameraal la loi de murphy

    Joined:
    Jun 24, 2004
    Messages:
    45,061
    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

    Joined:
    May 9, 2014
    Messages:
    4,436
    BA and Norwegian Airlines looking very wobbly right now, wouldn’t be surprised to see staff layoffs imminently :(
     
  23. ameraal

    ameraal la loi de murphy

    Joined:
    Jun 24, 2004
    Messages:
    45,061
    all we need is an eyjafjallajökull and a power failure and we're back to prehistoric times.
     
  24. Mats

    Mats User

    Joined:
    Dec 31, 2007
    Messages:
    25,025
    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 BRING BACK TAGS

    Joined:
    Aug 3, 2009
    Messages:
    188,477
    Location:
    BRING BACK TAGS
    The £ crashed worst today than Brexit day.
     
  26. Lucille

    Lucille Sniffing in the VIP area

    Joined:
    Mar 21, 2013
    Messages:
    15,420
    Location:
    The Bins, Hackney
    I accidentally paid an invoice in Euros twice on Monday. Luckily we actually made money when it was refunded to us today.
     
    octophone likes this.
  27. Indie

    Indie Great Tits

    Joined:
    Feb 3, 2004
    Messages:
    54,922
    Location:
    :noitacoL
    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.
     
    ButterTart likes this.
  28. ameraal

    ameraal la loi de murphy

    Joined:
    Jun 24, 2004
    Messages:
    45,061
    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

    Joined:
    Dec 31, 2007
    Messages:
    25,025
    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 la loi de murphy

    Joined:
    Jun 24, 2004
    Messages:
    45,061
    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 Skullomania nude on spacehopper

    Joined:
    Apr 8, 2010
    Messages:
    30,218
    Savings? Hahaha, good one!





    :(
     
    SDF, Ag and ButterTart like this.
  32. Mats

    Mats User

    Joined:
    Dec 31, 2007
    Messages:
    25,025
    @COB, stop buying all that weebo junk and grind the market instead :disco:
     
    COB likes this.
  33. ButterTart

    ButterTart Drop dead cynical

    Joined:
    Jul 27, 2014
    Messages:
    23,043
    Location:
    The Land of Broken Dreams
    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 O = 0

    Joined:
    Feb 3, 2004
    Messages:
    46,023
    Location:
    Sudden Roundabout
    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!

    Joined:
    Feb 3, 2004
    Messages:
    122,161
    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

    Joined:
    Feb 4, 2004
    Messages:
    47,905
    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 BRING BACK TAGS

    Joined:
    Aug 3, 2009
    Messages:
    188,477
    Location:
    BRING BACK TAGS
    They are I think.
     
  38. Ag

    Ag BRING BACK TAGS

    Joined:
    Aug 3, 2009
    Messages:
    188,477
    Location:
    BRING BACK TAGS
    Anyway interest rates now at 0.1%. A record low.
     
  39. SDF

    SDF We're all Angles in Chainz

    Joined:
    Jun 23, 2004
    Messages:
    17,636
    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 la loi de murphy

    Joined:
    Jun 24, 2004
    Messages:
    45,061
    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

Share This Page