Stocks decimated, with TSX & Dow Jones plunging.
As this is being written, there’s a bloodbath in the markets as people wake up to the massive disruption Coronavirus is bringing.
The TSX is down 1,557.92 points, a full 10.92%.
Circuit breakers were triggered after the markets plunged:
“LEVEL 1 MARKET-WIDE CIRCUIT BREAKERS TRIGGERED: At the instruction of IIROC, TSX, TSXV and TSX Alpha have been halted due to the triggering of a level 1 market-wide circuit breaker. Markets are now in Pre-Open state and are set to resume trading at 09:51:00.”
LEVEL 1 MARKET-WIDE CIRCUIT BREAKERS TRIGGERED: At the instruction of IIROC, TSX, TSXV and TSX Alpha have been halted due to the triggering of a level 1 market-wide circuit breaker. Markets are now in Pre-Open state and are set to resume trading at 09:51:00.
— TMX Group (@TMXGroup) March 12, 2020
The Dow Jones is currently down 2,159.98 points, a full 9.17% drop.
The circuit breakers on the Dow were also triggered.
European stocks closed the day 11% lower, the worst one day fall in history in Europe.
Coronavirus is now spreading out of control in parts of the world, as social distancing measures and closures appear to have been taken too late.
As more and more people wake up to the danger and disruption, we can expect to see the focus move from stocks (which are being bludgeoned), to keeping the core economy alive.
Spencer Fernando
Photo – Twitter
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