Dow plunges 3,000 points in worst selloff since 1987

As the Dow experienced its worst selloff since 1987, President Donald Trump and members of the White House’s COVID-19 coronavirus task force at a press conference this afternoon asked all Americans to avoid discretionary travel, not eat at restaurants or bars, not hold gatherings of over 10 people, and to quarantine themselves if they or a member of their household feels sick.

Dow has worst selloff since 1987Carleton English and Nicholas Jasinski for MarketWatch:

The Dow Jones Industrial Average opened with a loss of 9.7%, or 2,250.46 points, leaving it at 20,935.16. The S&P 500 dropped 8.1% and the Nasdaq Composite fell 6.1%. The drop immediately triggered a 15-minute trading halt for the third time since last Monday.

Stocks later regained some ground. But by the close, the Dow was back down 2,999.14 points, or 12.9%, the S&P 500 had lost 12%, and the Nasdaq was off 12.3%… Apple (AAPL) closed down 12.9%, due in part to being slapped with a $1.3 billion fine over anticompetitive sales practices. The iPhone maker also said it was closing stores outside of China amid the coronavirus.

MacDailyNews Take: Of course, this is what a rollercoaster ride does, up, down, up, down. It shouldn’t be surprising to see the Dow experience in worst selloff since 1987. The markets hate uncertainty and all we have right now is uncertainty. Thankfully, even the most violent rollercoaster rides glide to a stop eventually. Hang on tight and try to help your fellow passengers remain calm and not panic. Over the next 15 days, please stay home whenever possible, practice social distancing if you have to go out, and maintain proper hygiene at all times.


  1. Wow…from this is a hoax to the sky is falling in a matter of days. Trump is way over his head. Maybe next time people will think twice before voting for a snake-oil salesman to be President.

      1. already living in socialism my friend. you refuse to admit it. your favorite administration ever is deficit spending other people’s money. with full gop support.

        next you can spin why at times like these its good that cheapskates have the right to avoid healthcare insurance of any kind without penalty, while you fully accept the state requirements for car insurance. hypocrisy much?

      2. Of course, Sherm, because in your mind there is nothing between unregulated capitalism and complete government control. The USA has relied on a mixed economy (with plenty of socialism) since day 1. Old wild west movies, Ayn Rand hypocrisy novels, and libertarian propaganda full of historical revisionism don’t change the fact. In a health crisis, you are watching as people cooperate as a society to do the right thing. Tough survivalists who think they’re safe in their compounds and refuse to pay attention to this viral dem hoax will hopefully not have to learn the lesson the hard way. We are all in this together.

      3. sherm66: welcome to socialism. your orange village idiot is taking the US there.

        Next time you want to make inappropriate comparisons to Venezuela, which is suffering under a dictator, you should remember how this administration abandoned any free market principles.

        hope your neighborhood grocery stays stocked without price gouging.

      1. So you vote for the village idiot instead? Major eye rolls. World is changing in ways you can’t possibly comprehend. Keeping your head in the sand is not the best strategy right now. Just sayin’

      2. Dd: screw you. Orange Idiot is not only a demented fool, he’s a compulsive liar who takes no responsibility for anything. A boy scout would be better able to manage in a tough situation than the GOP savior. What prevents you from picking a capable candidate who isn’t in his 70s?

      3. The demented patient is inhabiting the WH and pretending to start taking the disaster seriously as part of his 3rd season of this reality TV charade.

        Too bad he ignored his advisers for 3 months. Dotard requires a room full of bureaucrats from what he himself called this month the “deep state” to correct his every press conference. Red party don’t have a competent leader, why would it be worse with the Blue party? Listening to the pompous unempathetic ass berate the press again because they ask real questions that a competent leader would answer cannot get any more annoying. The people would prefer a kindly old senile guy versus Emperor Nero wannabe who thinks the press should fellate him and throw flowers at his feet.

  2. I love this has happened on the Trumpster’s watch presiding over the worst stock market in 33 years (and adding to it’s woes mostly out of plain incompetence and specious inanities regarding the virus). That’ll look good on the presidential CV come November eh?

    Sad for how it’s effected the market and people in general.

    1. I seem to recall how your boy Obama came out just some three weeks ago touting how Trump was benefitting from the Obama economic recovery. Is everybody on the Left suffering from dementia and not just Joe?

      Well, if any good came from this Corona mess, it was to see Obama shut his pie hole and slink back underneath that slimy rock he crawled from under!

      1. Obama was never my “boy”, boy. I did not vote for him. I am also not a lefty, just a realist. What you say is a true statement. The economy was Trump’s to mess up on and the chickens have come home to roost, It’s hilarious listening to the conservatives here who are blind fools paying daily fealty to the imbecilic Dark Lord that is Trump, an accident of history and on the wrong side of history. That’s okay, keep falling all over yourselves trying to apologize for your incompetent Liar-In-Chief – it makes great entertainment.

        1. If ANYONE is getting paid by Putin, it is the Trump family. Lots of Russian money flowing through Deutsche Bank to Trump family investments that are (or were) in trouble. Follow the money and pay attention to how much the Trump family works to keep the information under wraps.

          Trump’s entire life is a lie constructed for his own self-aggrandizement. Want to know how he did in college? His records are under “special” seal. Want to know who Trump screwed over in business? Sorry, but sealed by NDAs. Want to get him for tax fraud? Well, he and his family are guilty, but cannot be prosecuted due to the statute of limitations on that crime (to be clear, just because he cannot be legally punished does not mean that he is “exonerated”). How about those illegal bagman money drops from Trump’s father to keep Trump’s casinos from defaulting on debt payments? Also illegal. Emoluments violations…illegal. Political corruptionbeteeen Trump and Russia…also illegal.

          Trump has been protected all of his life, he has been protected by money, by people in powerful positions, and by high-priced lawyers with no soul or conscience. More recently he was protected by the GOP-dominated Senate who refused to hear key witnesses. And, I am afraid, Trump is also protected by about 38% of the American electorate who has been deluded by the Trump lies and the nasty spin of Fox News.

          The justice system will eventually catch up with the Trump family and history will hold Trump accountable, even if the GOP is currently too scared to stand up for once sacred principles.

  3. Donald Trump is the most corrupt President in both the 20th and 21st centuries. We have a man who ran a mom & pop business structure trying to run the most complex either business or government structure the world has ever seen. In addition he like to work with people who will bend to his beliefs rather than learning from those with more knowledge or experience.

    I am not a fan of Bernie Sanders but even he would understand realities better than Trump!

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