The markets are crashing become they finally realized that the senile Trump is too incompetent to handle a global pandemic. Via Vanity Fair:
“Even if Congress provides additional funding, there remain fears that the Trump administration has already hamstrung it’s ability to address this emergency. As Foreign Policy’s Laurie Garrett wrote last month, the administration has “intentionally rendered itself incapable” of dealing with a problem of this scale. It wiped out its “entire pandemic response chain of command, including the White House management infrastructure,” Garrett wrote, and shut down the National Security Council’s global health security team, as well as its counterpart in the Department of Homeland Security. In addition to proposing funding cuts for national and global health programs, the administration has also kneecapped its public health teams by declining to replace officials who have left. While the president established a Coronavirus Task Force led by Health and Human Services Secretary Alex Azar last month, “it’s not clear how it will function,” Garrett noted—essentially forcing the administration to “[resort] to improvisation” in its approach to the crisis.”
Did the market crash because it was over sold?
Perhaps it crashed because Bernie is going to be the Democratic nominee?
Or maybe it was out of fear that the coronavirus could spread out of control?
It’s likely that it was a compilation of all of those so-called “worries?”
Then again it could very well be that the 10% of Americans who actually own stock decided to take big profits and then buy the stock back at a cheaper price next week.
Remember, any excuse will due for the market to rise or to fall because the entire enterprise is rigged.