Jim Cramer's got some thoughts on the market.
He even penned an obituary for the bull market.
But, First, the Markets
Stock futures extended steep declines Thursday and shares in Asia and Europe sank after the World Health Organization declared the coronavirus outbreak a pandemic and after President Donald Trump said travel between the U.S. and Europe would be suspended for 30 days.
The president also laid out financial measures to stem the threat to the economy from the virus but his announcements from the Oval Office late Wednesday failed to calm investors.
And, for the second time this week, futures fell 5%, triggering the limit-down, and halting trading until the open.
Rest In Peace Bull Market
Or, so reads Cramer's column on Real Money this morning.
Here's what Cramer wrote:
The Bull had a long history of tussling with ailments, fed rate hikes, erratic policy statements, overly exuberant froth and hedge funds who would come on tv and fret endlessly about the federal reserve. But it was an actual illness that laid him low and when he was toppled he landed upon thousands of dip buying flies who had always thought they could dart in and out without much worry. They were faster than he was until he departed. Then fell like a ton of bricks.
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