Stocks moved into the green at least briefly Thursday.
In general, the market has continued to look past fiscal and monetary stimulus measures taken by a government desperate to support the economy, as it likely falls deep into recession over what seems to be a stoppage in economic activity spurred by the Coronavirus.
The Dow Jones and Nasdaq both inched above 1% by midday, with the S&P 500 hovering around flat, dipping in and out of the red and green. In the morning, stocks were down as much as 3%, across indexes.
Investors have been jittery about the virus, which some say will cause GDP to decide 20% in the second quarter. Down days in stocks have been to the tune of 5% to 10%, while up days have been of the same magnitude. This has spurred trading stoppages in the form of circuit breakers and enforcement of the limit-up-limit-down rule, which says than price movements of 5% or more, in both directions, elicit a stop in trading for five minutes.
Thursday has been a rare normal day in markets.
Some on Wall Street have said that a sustained muted move in the market could potentially indicate the market is beginning to stabilize, as stocks are down almost 30% from their all-tome highs, which is a bear market. Still, some say the losses could worsen a bit from here before they stabilize.
The virus is the ‘x’ factor.
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