New York Stock Exchange – The Stock Market was halted within 5 minutes of its open this morning as stocks plummeted over 7%. This continues a downward trend that started nearly a week ago since the Coronavirus has demonstrated a significant affect to global markets and US businesses. This down fall is not limited to stocks, as major commodities such as oil, gold and silver see significant declines. This is a clear indication that yesterday’s address by President Donald Trump did little to no affect to ease the market fears.
While the stock market is a very clear indication of what is the sentiment of investors, the reality hits home when you have flight cancellations, cancellations to cruise vacations, the avoidance of congregation which affect everything from houses of worship to nightlife and even the recent cancellation of the NBA remaining 2019-2020 basketball season as Rudy Gobert, from the Utah Jazz, tested positive to COVID-19.
A video posted in social media shows and even greater chilling affect as shipping docks show empty lots where in normal times one can see mountains of stacked trailers of merchandised that for the most part are filled with products from China.
So the lasting affects to both the market and even more deeply to individuals and small businesses will be incalculable.
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