Human beings want to live through this terrible virus. So figure. I guess they aren't worried that much about stockholder returns. OMG, there are no pants on fire bailouts.
The strength of the USA economy is the consumer. This is not difficult. The markets need to stop gambling with their fancy inventive financial instruments.
By Emily Graffeo
That's according to James McDonald, Hercules Investments CEO and investment chief, who said on Wednesday that the S&P 500 index could tumble an additional 20% before the presidential inauguration in January as cases of the coronavirus surge in the US and swaths of Europe begin to lock down again.
The benchmark index lost as much as 3.6% during Wednesday trading and closed at 3,271 - its lowest level since late September. McDonald said the market turmoil isn't over just yet.
"Expectations that COVID-19 would be under control by now have vanished and we see stocks falling by another 10-20% from here," McDonald said. "We believe that if the S&P 500 breaks below 3,200 before the election, its next move may be down another 12% to 2,890."...
