{"id":176827,"date":"2020-03-11T19:33:00","date_gmt":"2020-03-12T00:33:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2020\/03\/11\/look-out-below\/"},"modified":"2020-03-11T19:33:00","modified_gmt":"2020-03-12T00:33:00","slug":"look-out-below","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2020\/03\/11\/look-out-below\/","title":{"rendered":"Look Out Below"},"content":{"rendered":"<div>We are now <a href=\"https:\/\/www.theguardian.com\/business\/2020\/mar\/11\/us-stocks-latest-bull-to-bear-market-signs-coronavirus-impact\">officially in a bear market<\/a>:<\/div>\n<blockquote><p><span style=\"color: blue;\">Wall Street\u2019s record-breaking 11-year \u201cbull market\u201d came to an end on Wednesday as fears about the spreading Covid-19 pandemic hit stock markets again. <\/p>\n<p>US stock markets have been on an unprecedented streak since 2009, a bull market of gains. On Wednesday investors sold off shares across all sectors after the World Health Organization declared the outbreak a pandemic for the first time and criticized \u201calarming levels of inaction\u201d by governments in corralling the virus. <\/p>\n<p>The Dow Jones Industrial Average closed down over 1,400 points, 5.8%. After days of wild fluctuations, the Dow has now fallen 20% from its most recent highs \u2013 finally signaling a bear market. The S&amp;P 500 also fell and is now 19% below its recent high.<\/span><\/p><\/blockquote>\n<p>I would note that the bulk, if not the totality of all net stock purchases over that period has been stock buybacks.<\/p>\n<p>This is long overdue, and luckily, it&#8217;s happening during an election year with an incumbent Republican.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>We are now officially in a bear market: Wall Street\u2019s record-breaking 11-year \u201cbull market\u201d came to an end on Wednesday as fears about the spreading Covid-19 pandemic hit stock markets again. US stock markets have been on an unprecedented streak since 2009, a bull market of gains. On Wednesday investors sold off shares across all &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[392,456,572,374],"class_list":["post-176827","post","type-post","status-publish","format-standard","hentry","tag-economy","tag-finance","tag-pandemic","tag-politics"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/176827"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=176827"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/176827\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=176827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=176827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=176827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}