"Harrowing Plunge": Traders Are Flying Blind in S&P Futures After CME Limits Are Hit

By artappraiser on Sun, 03/08/2020 - 11:12pm |

Updated on March 8, 2020, 10:51 PM EDT

CME rules stipulate futures can’t fall more than 5% from close; S&P 500 futures sink as Saudi Arabia wages oil price war

Just so normie non-finance people understand what's going on right now, stock market futures plunged so hard that they LITERALLY SHUT DOWN THE WHOLE THING: https://t.co/5Z8tYYde4E via @markets
— Joshua Green (@JoshuaGreen) March 9, 2020

URL:

https://www.bloomberg.com/news/articles/2020-03-08/rout-in-u-s-stock-futures-would-trigger-trading-curbs-at-5

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Found retweeted by Frank Rich:

Delete your account #StockMarketCrash2020 https://t.co/s3S8L1Klhb
— ᎠᏌNᎬᎷYᎢᎻᎪNᏩ™️ (@Kris_Sacrebleu) March 9, 2020

Four hours ago:

Wow

Officially panic time #StockMarketCrash2020 pic.twitter.com/6cUDEGVez0
— Wall Street Yoda (@WallStreetYoda) March 8, 2020

by artappraiser on Sun, 03/08/2020 - 11:24pm

Obama's chief economic adviser------> https://t.co/lINVtQCuW1
— Alec MacGillis (@AlecMacGillis) March 9, 2020

by artappraiser on Sun, 03/08/2020 - 11:33pm

Brent at $32. This is absolutely awful for Iraq, which cannot make payroll at this level (given OSPs) and will have to start eating into its forex reserves just to get by.
— Patrick Osgood (@PatrickOsgood) March 9, 2020

by artappraiser on Mon, 03/09/2020 - 1:24am

It is a bloodbath out there in markets - oil prices down 30%, futures indicating FTSE 100 to open nearly 7% down, Wall St called 5% lower. Tin hat time. Rpt by @KangHexin https://t.co/AuxhVOZGsZ
— Tony Tassell (@TonyTassell) March 9, 2020

Nigeria's budget dependent on $57 oil price.
Oil now $30, expected to go lower.#Buhari just took $22.7 billion foreign loan to be repaid till 2040.
25% of budget already goes on debt servicing.
Buhari returning to SAP-era.
https://t.co/77TPeIaBzA via @financialtimes
— Dr Remi Adekoya (@RemiAdekoya1) March 9, 2020

by artappraiser on Mon, 03/09/2020 - 3:37am

Drumpf has tweeted that it's all the fault of Russia, Saudia Arabia and fake news--CNBC just noted on live TV

So last year 37,000 Americans died from the common Flu. It averages between 27,000 and 70,000 per year. Nothing is shut down, life & the economy go on. At this moment there are 546 confirmed cases of CoronaVirus, with 22 deaths. Think about that!

10:47 AM - 9 Mar 2020

Saudi Arabia and Russia are arguing over the price and flow of oil. That, and the Fake News, is the reason for the market drop!

10:36 AM - 9 Mar 2020

Good for the consumer, gasoline prices coming down!

10:36 AM - 9 Mar 2020

So much FAKE NEWS!

9:17 AM - 9 Mar 2020

Apparently sticking to the coronavirus as fake news thing. I like to keep in mind that he has shown he can change narratives on a dime and lie about who was responsible for something he supported that was unpopular. He's sticking to this, like "The Wall" for some special reason.

Meanwhile the talking heads on CNBC are talking about how the Fed Gov. needs to step up and spend on things like: all related medical expenses, lost wages just like with unemployment insurance and lost business income for small business.

Edit to add: And Azar is basicall saying on Fox News "ignore what the clown in front of the curtain is saying on Twitter":

HHS Sec. Alex Azar on Fox News: "This is a very serious health problem. Nobody is trying to minimize that."
— Aaron Blake (@AaronBlake) March 9, 2020

by artappraiser on Mon, 03/09/2020 - 10:48am

"Why this oil crash is different"

The epic oil price collapse since Friday's failed OPEC meeting will change the face of geopolitics, and could even impact the U.S. election, Jason Bordoff writes.https://t.co/DFl3QV7ar9
— Foreign Policy (@ForeignPolicy) March 10, 2020

by artappraiser on Tue, 03/10/2020 - 10:25am

Some insight on the Saudi/Russian oil game-theory:

"I don't think Putin and MBS have a list of US shale companies they want to go bankrupt, .. but they understand US debt levels are really high and that capital markets are closed" to those companies" -- NASDAQ's Essner, on @CNBC
— Carl Quintanilla (@carlquintanilla) March 10, 2020

by artappraiser on Tue, 03/10/2020 - 11:57am

Sassy CNN Money tool I just learned about:

Fear & Greed Index/What emotion is driving the market now? How the Index works: CNN's Fear & Greed Index tracks seven indicators of investor sentiment

by artappraiser on Tue, 03/10/2020 - 10:52am

NPR's Marketplace host:

I really don’t want to be a downer here, but of all the ways today’s market action should be read, ‘oh hey, everything’s fine’ is def not one of them.
— Kai Ryssdal (@kairyssdal) March 10, 2020

by artappraiser on Tue, 03/10/2020 - 11:59am

The purpose of QE as a coronavirus response is not to reduce Treasury rates; those are already historically low.

The purpose is to take risky corporate debt off of banks' balance sheets to prevent the pandemic from causing a financial crisis.https://t.co/iU6mstFs06
— Noah Smith (@Noahpinion) March 10, 2020

by artappraiser on Tue, 03/10/2020 - 2:04pm

"Harrowing Plunge": Traders Are Flying Blind in S&P Futures After CME Limits Are Hit

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