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Old 13-03-2020, 03:14 PM   #7
Professor Farnsworth
Fossil fuel consumer
 
Join Date: Jul 2005
Location: Mod For: Pub, Bar, Sales Yard, Show 'N Shine, Photoshop, AU to BF, FG to FGX, Territory & Sports Bar
Posts: 17,027
Valued Contributor: For members whose non technical contributions are worthy of recognition. - Issue reason: Many years of valuable contributions to the forum, including some superb build threads. 
Default Re: Coronavirus scare causing markets to fall

I keep a very keen eye on these things. And these things are going to get very much worse - anyone thinking otherwise is not paying attention. Stocks and shares are based on panic at their very core, on public perception and social media information in recent years. The ASX has lost over 500 billion in recent trade and is still going down. The NYSE has had it's worst trade since 1987. People are going underground and the effects will be far reaching. Companies were already going bust late last year and early this year before this virus became a real thing. You will see a lot more companies filing insolvency, shutting doors in the coming weeks and months. Travel agents, cruise liners, airlines, airports potentially, deficits will became gigantic and this is just the beginning. We may see banks and financial institutions go down. It doesn't take much. We were planning an investment property but there's no chance now in the current climate.

Feel free to come back and quote this post in six months!
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