US equities opened very significantly lower, pressured via further Coronavirus headlines.
I will merely note, that many out there seem more concerned with declining stock prices and upset capital markets, than the loss of life. Kudlow, whom I could cite many past instances... simply doesn't recognise the gravity of the situation the US might be facing. I could go on... but I'm sure some of you could guess the rest.
Trump continued on Twitter...
I will merely note, in late January, the Corona threat became clear. Whilst the US President did eventually take action to prevent inbound flights from China, the Chinese then merely side-stepped to Vietnam (or some other nearby country), and then took a second flight to the US.
Flights - from ALL nations should have been stopped, along with all cruise/leisure trips. But no, that would have harmed stock prices, and 'they' prize that above almost everything else.
The sad irony is that rather than taking those decisive measures, things are set to be far worse. I'd again refer you to the Rogan/Osterholm interview, that I highlighted yesterday.
The afternoon saw the WHO finally declare the Coronavirus outbreak as a Pandemic. They are some 4-6 weeks slow in declaring it, and some number of deaths are 'on their hands'. The medical historians of the 22nd century will have more to say on such things.
Volatility picked up, with the VIX settling +13.9% at 53.90. S/t outlook offers the mid sp'2550s. I'd acknowledge an extra washout to the Dec'2018 low of 2346 is very viable, before putting in a s/t hyper spike floor.
|London is still taking inbound flights. Not. So. Smart.|
|Magnolias as spring is nearing|
|A fine evening|
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Goodnight from London
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