Bear Market – March 28
After three days of going UP, the stock market roller coaster plunged back down on Friday.
Investors are white-knuckling this ride—on Friday the Dow was down more than 800 points, or 3.7%, while the S&P 500 and Nasdaq fell 3.2% (as of this email writing.)
Chevron, Boeing and American Express led the 30-stock Dow lower, sliding more than 5% each. In the S&P 500, Energy (5.8% drop) and Industrials (4.3% drop) were the worst performing sectors.
Better buckle up your seat belt because this ride looks to be more harrowing than any carnival ride you ever rode before.
Okay, enough with the roller coaster analogy.
Obviously, the bear market is here. Like our logo shows, the bear has turned the bull into a hamburger at this point.
However, this newsletter will not be hibernating. We are here to deliver helpful, interesting and practical economic and pandemic news, with a little bit of weird thrown in for entertainment.
Because we know you also currently have no plans of hibernating and you need this Bear Market newsletter to bring you the hottest, most important news items focused on the economy, COVID-19, and how the two intersect.
We want you to stay well and financially stable…To be alert and informed is crucial right now, and we’re probably guessing you are already tired of what cable news is doing to your nerves.
It is our pleasure to help keep you “woke” to what’s happening both economically and with the global pandemic.
Thanks again for subscribing![Economy – Supply Chain]
Truckers (Don’t) Want to Be a Part of It—New York, NY: It wouldn’t be surprising if 95% of the Truck Drivers in America carried a smartphone with them on the road, right? Naturally, Truckers are reading the news and are aware of what’s going on with the pandemic…so are we surprised that some truck drivers are putting the brakes on making deliveries into New York City? Many are now wary of the Big Apple, and this is causing delivery headaches for grocers. READ MORE
Did This Guy Try to Drive Down the Market? Pershing Square Capital manager Bill Ackman went into defense mode as critics contended his interview on CNBC was filled with scary predictions that caused the market to go down an additional 4%. Ackerman says the claim is “absurd.” See what he said and decide for yourself: READ MORE
Some Think This Guy May Be Coronavirus ‘Patient Zero’: A 57-year-old female shrimp peddler at Wuhan Chinese Market (where the coronavirus pandemic likely began) has been identified as one of the first victims of the COVID-19 virus and may even be “patient zero.” READ MORE
Doctor Says Too Many Young People Are Needing Coronavirus Treatment:
He’s an ER doctor on the front lines, helping those sick from COVID-19. He’s only 28, and like most people in their 20s and 30s a few weeks ago, was more concerned about his older loved ones getting the virus. He initially thought the young didn’t have much to worry about…Today, he no longer thinks that way. He’s seeing a flurry of young patients, and another doctor where he works said he has never seen so many young people in the ICU as he’s now seeing with COVID-19. READ WHAT THIS DOCTOR IS SEEING ON THE FRONT LINES
As Unemployment Soars—Amazon Filling Those 100,000 Jobs FAST: Known as a tech company with it’s cutting edge cloud-computing technology and e-commerce, Amazon is now also being seen as an employment lifeline for literally millions of Americans who have been laid off due to the COVID-19 economic shutdown. Here is why they are one of the companies expected to flourish during the COVID-19 crisis. HERE’S WHY
For Those Seeking Work-At-Home Opportunities, Here’s a List of Possibilities: Some people cannot work from home, and we salute those who are leaving their homes to make a living during this pandemic crisis. If you have suddenly found yourself at home and unemployed, we here at Bear Market are sorry you are dealing with this unexpected dilemma. Perhaps, something on this list of remote gigs could work for you. CHECK OUT LIST
Changes coming to commercial real estate as COVID-19 Shuts Down Businesses:
The current pandemic is impacting the commercial real estate market in a big way as businesses are shutting down across the country. Here is what you need to know, including a few silver linings. READ MORE
[Economy – Retail]
Retailers Are Extending Their Coronavirus Closings Indefinitely: When retailers first began closing their stores a few weeks ago, they were expecting to be back open by the end of March…of course, that has changed. Most retailers are now refusing to set a date, and are looking at staying closed well into spring. Here’s what this means for shoppers: READ MORE