Caronavirus catching up to Wall Street today.

There are 14 replies in this Thread which has previously been viewed 3,148 times. The latest Post () was by Rice.

1st Official Post

    The major averages are giving up 3+ percent in a wild day of trading.


    I have been watching it all most of the day. There is a lot of concern for an economic slowdown as this spreads around the globe shuttering activities and businesses.

    International repercussions include areas we would expect, like travel (China had become the biggest spender on international tourism), and areas we might not think of, like human hair wigs and hair extensions (China produces up to 90% of the world’s supply). One of the major industries affected by the shutdowns is the bridal industry, starting with brides’ and bridesmaids’ gowns. China is a major supplier of these as well as prom dresses, for the spring season.


    According to CNN,
    “The most significant effect the virus has had on the global economy is a slowdown in supply chains. Apple alone lost $34 billion off its market value overnight recently, after the company announced the virus had made it impossible for it to meet its quarterly targets. It cited supply chain issues as a major factor.”


    Those who nostalgically long for a return to simpler days are choosing to ignore the global nature of, well, everything.

    Yes - Globalism is a force in both directions. Great for greed, even greater for fear.


    These multi nationals should be smart enough to have dual supply chains in separate geographic locations to avoid interruptions like this. If supply chain A is cheaper, they should still keep supply chain B busy to maintain the connection / availability if A goes down.


    To use a word INDUSTRIAL STRENGTH STUPID (errr 3 words!)

    • Official Post

    A payment service provider today sent me a survey on how coronavirus has impacted my business. =O


    It has not impacted my business at all, but my friends in Italy who are shop owners or freelancer are scared they won't make enough this month...

    Employees get paid anyway.


    I am wondering if I should take the bet and book a flight to Europe for July now, hoping the price will be lower due to the panic (in Italy, it is full panic right now, with no alcohol gel available, raided supermarkets, face mask sold at exorbitant prices etc.)

    Here is my airline booking procedure for a REPEAT DESTINATION.


    It has served me very well on the whole:


    I can generally remember the APPROXIMATE lowest price I ever paid for said fare and if I am really sharp, which airline it was with. I then set out to watch airfares. If I see a price that is near my historic low, I generally will book it. My reasoning being that the price is very close to the best I ever paid and the likelihood of a booking at a significantly lower price is MINIMAL at best. BUT - There is always the possibility (And it happens quite often, at least to me.) that if I don't book the ticket, the prices rise and never re trace to that value level I had the chance to buy at formerly. POINT BEING >>> If the air fare is near my historic low previous buy point, I feel safe. And truthfully I have never seen it fall more than a few percent lower such that I would be disappointed that I did not wait for a better opportunity. On the other hand many a time greed got the best of me and I'd have to chase the fare higher, spending much more than I wanted to. BONUS POINT >>> Airlines are only going to lower prices so low ... if they don't sell enough seats, they will cut the flight and force you to rebook. SO ... coronavirus could work against you if air traffic slows to a trickle.


    My 2 cents!

    one of the most important points by searching for tickets: use different computers with different users........the search platforms store your searches and "update" the prices accordingly to your "hunger" for a flight/destination!!!!!

    Trust me, it's not conspiracy theory but reality!!!!!!

    Quote from JAN

    one of the most important points by searching for tickets: use different computers with different users........the search platforms store your searches and "update" the prices accordingly to your "hunger" for a flight/destination!!!!!

    Trust me, it's not conspiracy theory but reality!!!!!!

    Actually, there is an easier way.


    Just do your searches with private browsing enabled. It has the very same effect / result.


    Also, a VPN is good as well as it allows you to change up your IP.

    On Monday and Tuesday, Wall Street’s big drops were apparently due to uncertainty.


    Today’s drop is for a more serious reason: Now that people can see that the virus will be spreading, it is expected that sales will fall at shopping malls, sporting events, restaurants, concerts, etc. as well as the more obvious flights, vacation resorts, etc. because people will be staying home.

    • Official Post

    Bring me something. I’ll bring you chicken soup if necessary. 😂



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